Quantinno Capital Management LP Makes New Investment in Global-E Online Ltd. (NASDAQ:GLBE)

Quantinno Capital Management LP purchased a new stake in Global-E Online Ltd. (NASDAQ:GLBE) during the third quarter, according to its most recent filing with the SEC. The firm purchased 6,549 shares of the company’s stock, valued at approximately $252,000.

Other large investors have also recently made changes to their positions in the company. Avitas Wealth Management LLC purchased a new position in Global-E Online in the second quarter valued at about $224,000. Meitav Investment House Ltd. raised its stake in shares of Global-E Online by 3.4% during the 2nd quarter. Meitav Investment House Ltd. now owns 572,798 shares of the company’s stock worth $20,770,000 after acquiring an additional 19,000 shares in the last quarter. Principal Financial Group Inc. lifted its position in Global-E Online by 166.9% during the second quarter. Principal Financial Group Inc. now owns 18,365 shares of the company’s stock valued at $666,000 after acquiring an additional 11,484 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in Global-E Online by 32.8% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 7,649 shares of the company’s stock valued at $277,000 after acquiring an additional 1,888 shares during the last quarter. Finally, Van ECK Associates Corp boosted its stake in Global-E Online by 7.2% in the second quarter. Van ECK Associates Corp now owns 32,320 shares of the company’s stock valued at $1,172,000 after acquiring an additional 2,161 shares in the last quarter. 94.60% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Jefferies Financial Group increased their price objective on Global-E Online from $45.00 to $50.00 and gave the company a “buy” rating in a report on Monday, November 18th. Wells Fargo & Company raised their price target on Global-E Online from $45.00 to $60.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. 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. Needham & Company LLC reiterated a “buy” rating and issued a $48.00 target price on shares of Global-E Online in a research note on Monday, November 18th. Finally, Benchmark boosted 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 report on Monday, November 18th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $51.33.

Global-E Online Stock Up 1.1 %

Shares of GLBE stock opened at $57.07 on Tuesday. Global-E Online Ltd. has a 52-week low of $28.11 and a 52-week high of $57.67. The stock has a market cap of $9.37 billion, a PE ratio of -98.40 and a beta of 1.24. The business has a 50-day simple moving average of $44.32 and a 200-day simple moving average of $37.95.

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.