Geode Capital Management LLC Raises Stock Position in Global-E Online Ltd. (NASDAQ:GLBE)

Geode Capital Management LLC lifted its stake in Global-E Online Ltd. (NASDAQ:GLBE) by 3.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 933,476 shares of the company’s stock after purchasing an additional 30,995 shares during the period. Geode Capital Management LLC’s holdings in Global-E Online were worth $35,722,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Capital Performance Advisors LLP bought a new position in Global-E Online in the third quarter worth about $32,000. Toronto Dominion Bank purchased a new position in shares of Global-E Online during the 2nd quarter worth approximately $40,000. Venturi Wealth Management LLC bought a new position in shares of Global-E Online in the 3rd quarter worth approximately $87,000. Quarry LP lifted its stake in shares of Global-E Online by 226.1% in the 3rd quarter. Quarry LP now owns 2,286 shares of the company’s stock valued at $88,000 after purchasing an additional 1,585 shares during the period. Finally, Acadian Asset Management LLC bought a new stake in shares of Global-E Online during the second quarter valued at approximately $220,000. Institutional investors own 94.60% of the company’s stock.

Global-E Online Price Performance

GLBE stock opened at $55.15 on Thursday. The stock has a market capitalization of $9.06 billion, a P/E ratio of -95.09 and a beta of 1.24. Global-E Online Ltd. has a 1-year low of $28.11 and a 1-year high of $57.85. The business has a fifty day moving average price of $46.74 and a 200-day moving average price of $39.10.

Wall Street Analyst Weigh In

GLBE has been the subject of a number of research reports. JMP Securities increased their price objective on Global-E Online from $46.00 to $64.00 and gave the stock a “market outperform” rating in a report on Thursday, November 21st. Raymond James lifted their price target 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. UBS Group cut their price objective on shares of Global-E Online from $50.00 to $48.00 and set a “buy” rating on the stock in a report on Friday, October 18th. KeyCorp lifted their target price on shares of Global-E Online from $38.00 to $55.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. Finally, Piper Sandler reissued an “overweight” rating and issued a $63.00 price target (up from $44.00) on shares of Global-E Online in a research report on Thursday, November 21st. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Global-E Online presently has a consensus rating of “Moderate Buy” and a consensus price target 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.