JPMorgan Chase & Co. Purchases 533,675 Shares of Global-E Online Ltd. (NASDAQ:GLBE)

JPMorgan Chase & Co. raised its holdings in Global-E Online Ltd. (NASDAQ:GLBE - Free Report) by 40.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,846,479 shares of the company's stock after acquiring an additional 533,675 shares during the period. JPMorgan Chase & Co. owned about 1.12% of Global-E Online worth $70,979,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of the business. Capital Performance Advisors LLP acquired a new position in Global-E Online in the 3rd quarter worth $32,000. Toronto Dominion Bank acquired a new position in shares of Global-E Online during the second quarter worth about $40,000. Venturi Wealth Management LLC acquired a new position in shares of Global-E Online during the third quarter worth about $87,000. Quarry LP grew its holdings in shares of Global-E Online by 226.1% during the third quarter. Quarry LP now owns 2,286 shares of the company's stock worth $88,000 after buying an additional 1,585 shares in the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in Global-E Online in the 2nd quarter valued at approximately $220,000. Institutional investors and hedge funds own 94.60% of the company's stock.

Global-E Online Stock Up 2.3 %

Shares of NASDAQ GLBE traded up $1.23 during midday trading on Friday, hitting $54.98. 1,194,906 shares of the company's stock were exchanged, compared to its average volume of 1,718,772. Global-E Online Ltd. has a 12 month low of $28.11 and a 12 month high of $57.85. The company's 50 day moving average price is $49.06 and its 200 day moving average price is $40.23. The firm has a market capitalization of $9.03 billion, a PE ratio of -94.79 and a beta of 1.24.

Wall Street Analysts Forecast Growth

GLBE has been the subject of several research reports. Benchmark raised their price target on shares of Global-E Online from $41.00 to $45.00 and gave the stock a "buy" rating in a research note on Monday, November 18th. KeyCorp raised their target price on shares of Global-E Online from $38.00 to $55.00 and gave the company an "overweight" rating in a research report on Tuesday, November 26th. Wells Fargo & Company lifted their price target on shares of Global-E Online from $45.00 to $60.00 and gave the company an "overweight" rating in a research note on Thursday, November 21st. Piper Sandler restated an "overweight" rating and issued a $63.00 price objective (up previously from $44.00) on shares of Global-E Online in a report on Thursday, November 21st. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $48.00 target price on shares of Global-E Online 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, Global-E Online presently has an average rating of "Moderate Buy" and a consensus price target of $51.33.

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.