Principal Financial Group Inc. Sells 11,617 Shares of Global-E Online Ltd. (NASDAQ:GLBE)

Principal Financial Group Inc. cut its holdings in shares of Global-E Online Ltd. (NASDAQ:GLBE - Free Report) by 63.3% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,748 shares of the company's stock after selling 11,617 shares during the quarter. Principal Financial Group Inc.'s holdings in Global-E Online were worth $259,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Robeco Institutional Asset Management B.V. raised its position in shares of Global-E Online by 37.4% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 8,609 shares of the company's stock valued at $331,000 after acquiring an additional 2,343 shares in the last quarter. Van ECK Associates Corp grew its stake in shares of Global-E Online by 1.6% in the third quarter. Van ECK Associates Corp now owns 32,828 shares of the company's stock worth $1,235,000 after purchasing an additional 508 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new stake in shares of Global-E Online in the 3rd quarter worth approximately $362,000. Focus Financial Network Inc. increased its position in shares of Global-E Online by 11.2% during the 3rd quarter. Focus Financial Network Inc. now owns 6,899 shares of the company's stock valued at $265,000 after purchasing an additional 694 shares during the period. Finally, Mediolanum International Funds Ltd bought a new stake in Global-E Online in the third quarter worth about $315,000. Institutional investors own 94.60% of the company's stock.

Analyst Ratings Changes

GLBE has been the subject of a number of recent research reports. Wells Fargo & Company increased their price objective on 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 reissued an "overweight" rating and issued a $63.00 price target (up previously from $44.00) on shares of Global-E Online in a research note on Thursday, November 21st. Bank of America decreased 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 report on Thursday, August 15th. KeyCorp increased their price objective on Global-E Online from $38.00 to $55.00 and gave the company an "overweight" rating in a research report on Tuesday. Finally, UBS Group decreased their price target on shares of Global-E Online from $50.00 to $48.00 and set a "buy" rating on the stock in a research report on Friday, October 18th. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat, Global-E Online currently has an average rating of "Moderate Buy" and a consensus price target of $51.33.

Global-E Online Stock Down 0.7 %

NASDAQ:GLBE traded down $0.36 during trading hours on Tuesday, reaching $51.66. The company had a trading volume of 1,401,089 shares, compared to its average volume of 1,145,791. The stock has a 50-day moving average of $39.47 and a two-hundred day moving average of $35.45. Global-E Online Ltd. has a one year low of $28.11 and a one year high of $52.57. The firm has a market capitalization of $8.49 billion, a PE ratio of -89.07 and a beta of 1.10.

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.