Spyglass Capital Management LLC Sells 21,215 Shares of Global-E Online Ltd. (NASDAQ:GLBE)

Spyglass Capital Management LLC reduced its stake in shares of Global-E Online Ltd. (NASDAQ:GLBE - Free Report) by 1.5% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,392,671 shares of the company's stock after selling 21,215 shares during the period. Global-E Online comprises 3.5% of Spyglass Capital Management LLC's investment portfolio, making the stock its 15th biggest position. Spyglass Capital Management LLC owned approximately 0.85% of Global-E Online worth $53,534,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Capital Performance Advisors LLP purchased a new stake in Global-E Online in the third quarter worth $32,000. Toronto Dominion Bank purchased a new stake in Global-E Online in the 2nd quarter worth about $40,000. Venturi Wealth Management LLC purchased a new stake in Global-E Online during the third quarter valued at about $87,000. DekaBank Deutsche Girozentrale boosted its position in Global-E Online by 18.4% during the first quarter. DekaBank Deutsche Girozentrale now owns 4,010 shares of the company's stock worth $146,000 after purchasing an additional 624 shares during the period. Finally, Russell Investments Group Ltd. increased its stake in shares of Global-E Online by 15.2% in the first quarter. Russell Investments Group Ltd. now owns 5,911 shares of the company's stock worth $215,000 after purchasing an additional 780 shares in the last quarter. Hedge funds and other institutional investors own 94.60% of the company's stock.

Global-E Online Stock Performance

GLBE traded up $0.42 on Friday, reaching $52.28. The company had a trading volume of 851,923 shares, compared to its average volume of 1,143,978. Global-E Online Ltd. has a 52-week low of $28.11 and a 52-week high of $52.75. The company has a market cap of $8.59 billion, a price-to-earnings ratio of -90.14 and a beta of 1.10. The business has a 50 day simple moving average of $40.31 and a 200 day simple moving average of $35.83.

Analysts Set New Price Targets

GLBE has been the subject of several analyst reports. Bank of America cut 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 lifted their price target on Global-E Online from $38.00 to $55.00 and gave the company an "overweight" rating in a research report on Tuesday. Wells Fargo & Company boosted their price objective on Global-E Online from $45.00 to $60.00 and gave the company an "overweight" rating in a research note on Thursday, November 21st. JMP Securities raised their target price on Global-E Online from $46.00 to $64.00 and gave the stock a "market outperform" rating in a research note on Thursday, November 21st. Finally, Jefferies Financial Group upped their price target on Global-E Online from $45.00 to $50.00 and gave the company a "buy" rating in a research report on Monday, November 18th. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price 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.