Worldquant Millennium Advisors LLC Invests $1.65 Million in Global-E Online Ltd. (NASDAQ:GLBE)

Worldquant Millennium Advisors LLC purchased a new position in shares of Global-E Online Ltd. (NASDAQ:GLBE - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 43,012 shares of the company's stock, valued at approximately $1,653,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in GLBE. Clearbridge Investments LLC acquired a new stake in shares of Global-E Online during the 2nd quarter worth approximately $83,036,000. Fred Alger Management LLC acquired a new stake in Global-E Online in the 3rd quarter valued at approximately $53,493,000. Dragoneer Investment Group LLC increased its holdings in 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. Hood River Capital Management LLC acquired a new stake in Global-E Online in the 2nd quarter valued at approximately $36,182,000. Finally, Assenagon Asset Management S.A. increased its holdings in Global-E Online by 369.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 847,094 shares of the company's stock valued at $30,724,000 after purchasing an additional 666,491 shares during the last quarter. Institutional investors and hedge funds own 94.60% of the company's stock.

Global-E Online Stock Performance

NASDAQ GLBE traded down $0.29 during trading on Monday, reaching $53.92. The company's stock had a trading volume of 1,042,418 shares, compared to its average volume of 1,147,507. The firm has a market cap of $8.86 billion, a price-to-earnings ratio of -92.97 and a beta of 1.24. Global-E Online Ltd. has a twelve month low of $28.11 and a twelve month high of $54.55. The business's fifty day moving average price is $42.12 and its 200-day moving average price is $36.90.

Analyst Ratings Changes

Several research firms recently weighed in on GLBE. Jefferies Financial Group lifted their target price on shares of Global-E Online from $45.00 to $50.00 and gave the company a "buy" rating in a report on Monday, November 18th. Benchmark raised their price target on shares of Global-E Online from $41.00 to $45.00 and gave the company a "buy" rating in a research report on Monday, November 18th. Wells Fargo & Company raised 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 report on Thursday, November 21st. Raymond James raised their price target on shares of Global-E Online from $41.00 to $55.00 and gave the company an "outperform" rating in a research report on Thursday, November 21st. Finally, Needham & Company LLC reissued a "buy" rating and issued a $48.00 price target on shares of Global-E Online in a research report on Monday, November 18th. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $51.33.

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.