JPMorgan Chase & Co. Purchases 533,675 Shares of Global-E Online Ltd. (NASDAQ:GLBE)

JPMorgan Chase & Co. increased its holdings in shares of Global-E Online Ltd. (NASDAQ:GLBE) by 40.7% in the third quarter, HoldingsChannel reports. The firm owned 1,846,479 shares of the company’s stock after buying an additional 533,675 shares during the period. JPMorgan Chase & Co.’s holdings in Global-E Online were worth $70,979,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Franklin Resources Inc. acquired a new stake in Global-E Online during the 3rd quarter valued at $223,000. Tidal Investments LLC boosted its holdings in shares of Global-E Online by 4.6% during the 3rd quarter. Tidal Investments LLC now owns 70,792 shares of the company’s stock worth $2,721,000 after buying an additional 3,129 shares during the period. Barclays PLC lifted its position in Global-E Online by 83.2% during the third quarter. Barclays PLC now owns 29,636 shares of the company’s stock worth $1,139,000 after acquiring an additional 13,463 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Global-E Online by 3.4% during the third quarter. Geode Capital Management LLC now owns 933,476 shares of the company’s stock worth $35,722,000 after acquiring an additional 30,995 shares during the period. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Global-E Online in the third quarter valued at approximately $2,843,000. Institutional investors own 94.60% of the company’s stock.

Global-E Online Stock Performance

NASDAQ GLBE opened at $54.98 on Friday. Global-E Online Ltd. has a fifty-two week low of $28.11 and a fifty-two week high of $57.85. The stock has a market cap of $9.03 billion, a PE ratio of -94.79 and a beta of 1.24. The firm’s fifty day moving average price is $49.06 and its two-hundred day moving average price is $40.17.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on GLBE shares. Morgan Stanley lowered Global-E Online from an “overweight” rating to an “equal weight” rating and set a $40.00 price objective on the stock. in a report on Friday, October 18th. Needham & Company LLC reissued a “buy” rating and issued a $48.00 price objective on shares of Global-E Online in a report on Monday, November 18th. Benchmark lifted their price target on shares of Global-E Online from $41.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, November 18th. UBS Group cut their target price on 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. Finally, KeyCorp boosted their price target on Global-E Online from $38.00 to $55.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $51.33.

Global-E Online 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.