Swiss National Bank Acquires 2,600 Shares of Global-E Online Ltd. (NASDAQ:GLBE)

Swiss National Bank grew its holdings in shares of Global-E Online Ltd. (NASDAQ:GLBE) by 0.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 298,920 shares of the company’s stock after purchasing an additional 2,600 shares during the quarter. Swiss National Bank’s holdings in Global-E Online were worth $11,490,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. CIBC Asset Management Inc increased its position in Global-E Online by 4.4% during the third quarter. CIBC Asset Management Inc now owns 9,420 shares of the company’s stock worth $362,000 after buying an additional 393 shares during the last quarter. American International Group Inc. increased its holdings in shares of Global-E Online by 3.2% during the 1st quarter. American International Group Inc. now owns 15,619 shares of the company’s stock valued at $568,000 after acquiring an additional 484 shares during the last quarter. Daiwa Securities Group Inc. raised its stake in shares of Global-E Online by 7.4% in the 2nd quarter. Daiwa Securities Group Inc. now owns 7,300 shares of the company’s stock valued at $265,000 after acquiring an additional 500 shares in the last quarter. Van ECK Associates Corp lifted its holdings in Global-E Online by 1.6% in the 3rd quarter. Van ECK Associates Corp now owns 32,828 shares of the company’s stock worth $1,235,000 after purchasing an additional 508 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its position in Global-E Online by 18.4% during the first quarter. DekaBank Deutsche Girozentrale now owns 4,010 shares of the company’s stock worth $146,000 after purchasing an additional 624 shares during the period. Institutional investors and hedge funds own 94.60% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Wells Fargo & Company lifted their price target 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. KeyCorp cut their target price on shares of Global-E Online from $40.00 to $38.00 and set an “overweight” rating for the company in a research report on Thursday, August 15th. Piper Sandler reiterated an “overweight” rating and issued a $63.00 price objective (up from $44.00) on shares of Global-E Online in a research note on Thursday. Needham & Company LLC restated a “buy” rating and set a $48.00 target price on shares of Global-E Online in a research note on Monday, November 18th. Finally, Raymond James lifted their price target on Global-E Online from $41.00 to $55.00 and gave the stock an “outperform” rating in a research report on Thursday. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $49.92.

Global-E Online Stock Performance

GLBE opened at $49.89 on Friday. The stock has a market cap of $8.19 billion, a PE ratio of -86.02 and a beta of 1.10. Global-E Online Ltd. has a 1 year low of $28.11 and a 1 year high of $52.26. The stock’s 50 day simple moving average is $39.16 and its 200-day simple moving average is $35.26.

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.