UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Lowers Position in Global-E Online Ltd. (NASDAQ:GLBE)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its holdings in Global-E Online Ltd. (NASDAQ:GLBE) by 0.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 618,316 shares of the company’s stock after selling 2,720 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.38% of Global-E Online worth $23,768,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Public Sector Pension Investment Board lifted its position in shares of Global-E Online by 23.8% during the third quarter. Public Sector Pension Investment Board now owns 51,950 shares of the company’s stock valued at $1,997,000 after buying an additional 10,000 shares during the last quarter. FMR LLC lifted its position in shares of Global-E Online by 4.1% during the third quarter. FMR LLC now owns 979,371 shares of the company’s stock valued at $37,647,000 after buying an additional 38,597 shares during the last quarter. Daiwa Securities Group Inc. lifted its position in shares of Global-E Online by 6.8% during the third quarter. Daiwa Securities Group Inc. now owns 7,800 shares of the company’s stock valued at $300,000 after buying an additional 500 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Global-E Online by 10.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 71,151 shares of the company’s stock valued at $2,735,000 after buying an additional 6,485 shares during the last quarter. Finally, Cedar Wealth Management LLC lifted its position in shares of Global-E Online by 32.5% during the third quarter. Cedar Wealth Management LLC now owns 29,030 shares of the company’s stock valued at $1,116,000 after buying an additional 7,121 shares during the last quarter. 94.60% of the stock is owned by hedge funds and other institutional investors.

Global-E Online Trading Down 0.3 %

Shares of NASDAQ:GLBE opened at $53.18 on Friday. Global-E Online Ltd. has a twelve month low of $28.11 and a twelve month high of $53.99. The company’s 50 day moving average is $41.49 and its 200 day moving average is $36.53. The company has a market cap of $8.73 billion, a PE ratio of -91.69 and a beta of 1.24.

Analyst Upgrades and Downgrades

Several analysts have commented on GLBE shares. KeyCorp increased their price target on shares of Global-E Online from $38.00 to $55.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. Bank of America decreased their price objective on shares of Global-E Online from $47.00 to $45.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. UBS Group decreased their price objective on shares of Global-E Online from $50.00 to $48.00 and set a “buy” rating for the company in a research report on Friday, October 18th. Raymond James increased their price objective on shares of Global-E Online from $41.00 to $55.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Finally, Wells Fargo & Company increased their price objective on shares of Global-E Online from $45.00 to $60.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $51.33.

Global-E Online Company Profile

Global-E Online Ltd., together with its subsidiaries, provides a platform to enable and accelerate direct-to-consumer cross-border e-commerce in Israel, the United Kingdom, the United States, and internationally. Its platform enables international shoppers to buy online and merchants to sell from, and to, worldwide.