Geode Capital Management LLC Purchases 30,995 Shares of Global-E Online Ltd. (NASDAQ:GLBE)

Geode Capital Management LLC increased its stake in shares of Global-E Online Ltd. (NASDAQ:GLBE - Free Report) by 3.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 933,476 shares of the company's stock after acquiring an additional 30,995 shares during the period. Geode Capital Management LLC owned about 0.57% of Global-E Online worth $35,722,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new stake in shares of Global-E Online in the 3rd quarter valued at about $32,000. Toronto Dominion Bank bought a new position in shares of Global-E Online during the second quarter worth about $40,000. Venturi Wealth Management LLC acquired a new stake in Global-E Online in the 3rd quarter valued at approximately $87,000. Quarry LP lifted its stake in Global-E Online by 226.1% in the 3rd quarter. Quarry LP now owns 2,286 shares of the company's stock valued at $88,000 after acquiring an additional 1,585 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new position in shares of Global-E Online during the 2nd quarter worth approximately $220,000. 94.60% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on GLBE shares. Piper Sandler reissued an "overweight" rating and issued a $63.00 price objective (up previously from $44.00) on shares of Global-E Online in a research report 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 price objective for the company. in a research note on Friday, October 18th. UBS Group decreased their price objective on Global-E Online from $50.00 to $48.00 and set a "buy" rating for the company in a report on Friday, October 18th. Jefferies Financial Group upped their target price on Global-E Online from $45.00 to $50.00 and gave the stock a "buy" rating in a report on Monday, November 18th. Finally, KeyCorp raised their price target on Global-E Online from $38.00 to $55.00 and gave the company an "overweight" rating in a research note on Tuesday, November 26th. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $51.33.

Global-E Online Price Performance

Global-E Online stock traded up $0.57 during mid-day trading on Thursday, hitting $55.72. 690,641 shares of the company's stock traded hands, compared to its average volume of 1,150,963. Global-E Online Ltd. has a fifty-two week low of $28.11 and a fifty-two week high of $57.85. The stock has a market cap of $9.15 billion, a price-to-earnings ratio of -96.07 and a beta of 1.24. The firm has a 50 day simple moving average of $47.10 and a two-hundred day simple moving average of $39.21.

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.