Principal Financial Group Inc. Sells 11,617 Shares of Global-E Online Ltd. (NASDAQ:GLBE)

Principal Financial Group Inc. trimmed its position in shares of Global-E Online Ltd. (NASDAQ:GLBE) by 63.3% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 6,748 shares of the company’s stock after selling 11,617 shares during the period. Principal Financial Group Inc.’s holdings in Global-E Online were worth $259,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Toronto Dominion Bank bought a new position in shares of Global-E Online during the 2nd quarter worth approximately $40,000. DekaBank Deutsche Girozentrale boosted its stake in Global-E Online by 18.4% in the first quarter. DekaBank Deutsche Girozentrale now owns 4,010 shares of the company’s stock valued at $146,000 after acquiring an additional 624 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in Global-E Online by 15.2% in the first quarter. Russell Investments Group Ltd. now owns 5,911 shares of the company’s stock worth $215,000 after purchasing an additional 780 shares during the last quarter. Acadian Asset Management LLC acquired a new position in shares of Global-E Online during the second quarter worth $220,000. Finally, Avitas Wealth Management LLC purchased a new stake in shares of Global-E Online during the 2nd quarter valued at $224,000. 94.60% of the stock is currently owned by institutional investors.

Global-E Online Price Performance

NASDAQ GLBE opened at $52.02 on Tuesday. The company has a fifty day moving average of $39.47 and a 200 day moving average of $35.45. The company has a market capitalization of $8.54 billion, a PE ratio of -89.69 and a beta of 1.10. Global-E Online Ltd. has a 1 year low of $28.11 and a 1 year high of $52.37.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. UBS Group dropped their target price on Global-E Online from $50.00 to $48.00 and set a “buy” rating on the stock in a research note on Friday, October 18th. JMP Securities upped their price objective on shares of Global-E Online from $46.00 to $64.00 and gave the company a “market outperform” rating in a report on Thursday, November 21st. KeyCorp lowered 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 note on Thursday, August 15th. Raymond James upped 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 note on Thursday, November 21st. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $48.00 price target on shares of Global-E Online in a report on Monday, November 18th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $49.92.

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.