Abdiel Capital Advisors LP Sells 849,000 Shares of Global-E Online Ltd. (NASDAQ:GLBE)

Abdiel Capital Advisors LP decreased its holdings in shares of Global-E Online Ltd. (NASDAQ:GLBE - Free Report) by 12.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,927,495 shares of the company's stock after selling 849,000 shares during the period. Global-E Online makes up about 13.8% of Abdiel Capital Advisors LP's portfolio, making the stock its 5th largest position. Abdiel Capital Advisors LP owned approximately 3.61% of Global-E Online worth $227,853,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Capital Performance Advisors LLP acquired a new position in Global-E Online during the 3rd quarter worth approximately $32,000. Toronto Dominion Bank bought a new position in shares of Global-E Online during the second quarter worth approximately $40,000. Venturi Wealth Management LLC bought a new stake in shares of Global-E Online during the third quarter valued at approximately $87,000. DekaBank Deutsche Girozentrale lifted 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 valued at $146,000 after purchasing an additional 624 shares during the last quarter. Finally, RiverPark Advisors LLC lifted its position in Global-E Online by 146.3% in the 3rd quarter. RiverPark Advisors LLC now owns 6,036 shares of the company's stock valued at $232,000 after acquiring an additional 3,585 shares in the last quarter. Hedge funds and other institutional investors own 94.60% of the company's stock.

Analysts Set New Price Targets

GLBE has been the subject of a number of recent analyst reports. Piper Sandler restated an "overweight" rating and set a $63.00 price objective (up previously from $44.00) on shares of Global-E Online in a research note on Thursday, November 21st. Morgan Stanley downgraded shares of Global-E Online from an "overweight" rating to an "equal weight" rating and set a $40.00 target price for the company. in a research report on Friday, October 18th. JMP Securities boosted their price objective on Global-E Online from $46.00 to $64.00 and gave the company a "market outperform" rating in a research report on Thursday, November 21st. Wells Fargo & Company raised their target price on shares of Global-E Online from $45.00 to $60.00 and gave the stock an "overweight" rating in a research note on Thursday, November 21st. Finally, Raymond James upped their price objective 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. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $51.33.

Global-E Online Stock Performance

Shares of NASDAQ:GLBE traded up $0.42 during midday trading on Friday, reaching $52.28. 851,923 shares of the company's stock were exchanged, compared to its average volume of 1,622,066. Global-E Online Ltd. has a 12 month low of $28.11 and a 12 month high of $52.75. The firm has a market capitalization of $8.59 billion, a PE ratio of -90.14 and a beta of 1.10. The company's 50 day simple moving average is $40.60 and its two-hundred day simple moving average is $36.03.

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.