Eventide Asset Management LLC Has $60.09 Million Position in Global-E Online Ltd. (NASDAQ:GLBE)

Eventide Asset Management LLC increased its position in shares of Global-E Online Ltd. (NASDAQ:GLBE - Free Report) by 59.1% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,563,254 shares of the company's stock after purchasing an additional 580,450 shares during the quarter. Eventide Asset Management LLC owned approximately 0.95% of Global-E Online worth $60,091,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Dragoneer Investment Group LLC grew its stake in Global-E Online by 9.6% during the second quarter. Dragoneer Investment Group LLC now owns 14,734,024 shares of the company's stock worth $534,403,000 after buying an additional 1,288,829 shares during the last quarter. Abdiel Capital Advisors LP grew its position in Global-E Online by 1.4% during the 2nd quarter. Abdiel Capital Advisors LP now owns 6,776,495 shares of the company's stock worth $245,783,000 after acquiring an additional 95,741 shares during the last quarter. Clearbridge Investments LLC acquired a new stake in Global-E Online during the 2nd quarter valued at $83,036,000. Kayne Anderson Rudnick Investment Management LLC raised its position in Global-E Online by 30.0% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,639,490 shares of the company's stock valued at $59,464,000 after purchasing an additional 378,827 shares during the last quarter. Finally, Hood River Capital Management LLC acquired a new position in Global-E Online in the second quarter worth $36,182,000. Institutional investors and hedge funds own 94.60% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on GLBE. KeyCorp raised their target price on Global-E Online from $38.00 to $55.00 and gave the company an "overweight" rating in a research note on Tuesday. Wells Fargo & Company raised their price objective 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, November 21st. Piper Sandler reaffirmed an "overweight" rating and issued a $63.00 target price (up from $44.00) on shares of Global-E Online in a research note on Thursday, November 21st. Raymond James increased 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, Bank of America dropped their price objective on shares of Global-E Online from $47.00 to $45.00 and set a "buy" rating for the company in a research report on Thursday, August 15th. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $51.33.

Global-E Online Stock Performance

NASDAQ:GLBE traded up $0.42 during mid-day trading on Friday, hitting $52.28. The company had a trading volume of 851,923 shares, compared to its average volume of 1,143,978. The firm has a market cap of $8.59 billion, a P/E ratio of -90.14 and a beta of 1.10. The business's fifty day moving average is $40.60 and its two-hundred day moving average is $35.99. Global-E Online Ltd. has a fifty-two week low of $28.11 and a fifty-two week high of $52.75.

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.