Brown Capital Management LLC trimmed its holdings in shares of Global-E Online Ltd. (NASDAQ:GLBE – Free Report) by 3.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,847,060 shares of the company’s stock after selling 71,232 shares during the period. Global-E Online comprises approximately 1.5% of Brown Capital Management LLC’s holdings, making the stock its 24th biggest holding. Brown Capital Management LLC’s holdings in Global-E Online were worth $71,001,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of GLBE. Russell Investments Group Ltd. increased its position in Global-E Online by 15.2% during the first quarter. Russell Investments Group Ltd. now owns 5,911 shares of the company’s stock worth $215,000 after buying an additional 780 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its position in Global-E Online by 3.3% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 48,279 shares of the company’s stock worth $1,755,000 after purchasing an additional 1,523 shares in the last quarter. American International Group Inc. raised its stake in Global-E Online by 3.2% in the 1st quarter. American International Group Inc. now owns 15,619 shares of the company’s stock valued at $568,000 after purchasing an additional 484 shares during the last quarter. Capital International Investors lifted its holdings in Global-E Online by 51.2% in the 1st quarter. Capital International Investors now owns 1,003,229 shares of the company’s stock valued at $36,467,000 after purchasing an additional 339,591 shares in the last quarter. Finally, Capital World Investors boosted its stake in shares of Global-E Online by 60.5% during the 1st quarter. Capital World Investors now owns 4,983,485 shares of the company’s stock worth $181,150,000 after purchasing an additional 1,877,953 shares during the last quarter. 94.60% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several equities analysts recently issued reports on GLBE shares. Piper Sandler reissued an “overweight” rating and set a $63.00 price objective (up previously from $44.00) on shares of Global-E Online in a research note on Thursday. UBS Group decreased their price objective on Global-E Online from $50.00 to $48.00 and set a “buy” rating on the stock in a report on Friday, October 18th. Needham & Company LLC reiterated a “buy” rating and issued a $48.00 target price on shares of Global-E Online in a research note on Monday. JMP Securities raised their price target on Global-E Online from $46.00 to $64.00 and gave the stock a “market outperform” rating in a research note on Thursday. Finally, Wells Fargo & Company upped their price objective 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. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $49.45.
Global-E Online Stock Up 12.0 %
GLBE opened at $47.86 on Thursday. Global-E Online Ltd. has a 52-week low of $28.11 and a 52-week high of $52.26. The company has a 50 day moving average of $38.65 and a two-hundred day moving average of $35.02. The company has a market cap of $7.86 billion, a P/E ratio of -73.63 and a beta of 1.10.
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.
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