State Street Corp Grows Position in Global-E Online Ltd. (NASDAQ:GLBE)

State Street Corp grew its holdings in Global-E Online Ltd. (NASDAQ:GLBE) by 3.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,550,647 shares of the company’s stock after buying an additional 55,760 shares during the period. State Street Corp’s holdings in Global-E Online were worth $59,607,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of GLBE. CIBC Asset Management Inc raised its holdings in Global-E Online by 4.4% in the 3rd quarter. CIBC Asset Management Inc now owns 9,420 shares of the company’s stock valued at $362,000 after acquiring an additional 393 shares during the last quarter. Daiwa Securities Group Inc. increased its holdings in shares of Global-E Online by 7.4% in the second quarter. Daiwa Securities Group Inc. now owns 7,300 shares of the company’s stock valued at $265,000 after purchasing an additional 500 shares during the last quarter. Van ECK Associates Corp increased its holdings in shares of Global-E Online by 1.6% in the third quarter. Van ECK Associates Corp now owns 32,828 shares of the company’s stock valued at $1,235,000 after purchasing an additional 508 shares during the last quarter. Lombard Odier Asset Management USA Corp boosted its stake in Global-E Online by 6.2% during the second quarter. Lombard Odier Asset Management USA Corp now owns 10,782 shares of the company’s stock worth $391,000 after buying an additional 632 shares during the last quarter. Finally, Focus Financial Network Inc. boosted its stake in Global-E Online by 11.2% during the third quarter. Focus Financial Network Inc. now owns 6,899 shares of the company’s stock worth $265,000 after buying an additional 694 shares during the last quarter. 94.60% of the stock is owned by hedge funds and other institutional investors.

Global-E Online Trading Down 3.9 %

Shares of NASDAQ GLBE opened at $54.62 on Thursday. The stock has a market capitalization of $8.97 billion, a PE ratio of -94.17 and a beta of 1.24. Global-E Online Ltd. has a twelve month low of $28.11 and a twelve month high of $57.85. The stock has a fifty day simple moving average of $45.06 and a 200-day simple moving average of $38.25.

Analyst Upgrades and Downgrades

Several research firms have recently commented on GLBE. JMP Securities lifted their price target 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. Benchmark lifted their target price on shares of Global-E Online from $41.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, November 18th. Wells Fargo & Company boosted their target price on shares of Global-E Online from $45.00 to $60.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. Raymond James raised their price target on shares of Global-E Online from $41.00 to $55.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Finally, Morgan Stanley cut 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. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average 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.