Brown Capital Management LLC Sells 71,232 Shares of Global-E Online Ltd. (NASDAQ:GLBE)

Brown Capital Management LLC lowered its position in Global-E Online Ltd. (NASDAQ:GLBE - Free Report) by 3.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,847,060 shares of the company's stock after selling 71,232 shares during the quarter. Global-E Online accounts for approximately 1.5% of Brown Capital Management LLC's investment portfolio, making the stock its 24th largest position. Brown Capital Management LLC owned approximately 1.12% of Global-E Online worth $71,001,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. Tidal Investments LLC acquired a new position in shares of Global-E Online in the first quarter worth approximately $2,521,000. Capital International Investors lifted its position in shares of Global-E Online by 51.2% in the 1st quarter. Capital International Investors now owns 1,003,229 shares of the company's stock worth $36,467,000 after purchasing an additional 339,591 shares during the period. Dragoneer Investment Group LLC boosted its stake in shares of Global-E Online by 9.6% in the 2nd quarter. Dragoneer Investment Group LLC now owns 14,734,024 shares of the company's stock valued at $534,403,000 after purchasing an additional 1,288,829 shares during the last quarter. WINTON GROUP Ltd acquired a new stake in shares of Global-E Online during the second quarter worth $623,000. Finally, Clearbridge Investments LLC bought a new position in Global-E Online during the second quarter worth $83,036,000. Institutional investors own 94.60% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have commented on GLBE shares. Needham & Company LLC reaffirmed a "buy" rating and set a $48.00 price target on shares of Global-E Online in a research report on Monday. Bank of America cut their target price on Global-E Online from $47.00 to $45.00 and set a "buy" rating on the stock in a research report on Thursday, August 15th. Wells Fargo & Company lifted their target price on Global-E Online from $45.00 to $60.00 and gave the stock an "overweight" rating in a report on Thursday. Morgan Stanley cut Global-E Online from an "overweight" rating to an "equal weight" rating and set a $40.00 price target on the stock. in a report on Friday, October 18th. Finally, Piper Sandler reiterated an "overweight" rating and issued a $63.00 price objective (up previously from $44.00) on shares of Global-E Online in a research note on Thursday. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $49.92.

Global-E Online Price Performance

Shares of NASDAQ:GLBE traded up $2.03 during midday trading on Thursday, hitting $49.89. 4,083,345 shares of the company's stock were exchanged, compared to its average volume of 1,125,225. Global-E Online Ltd. has a 12 month low of $28.11 and a 12 month high of $52.26. The company has a market cap of $8.19 billion, a PE ratio of -76.75 and a beta of 1.10. The stock has a 50 day moving average price of $38.90 and a 200-day moving average price of $35.12.

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.