Public Sector Pension Investment Board Increases Position in Global-E Online Ltd. (NASDAQ:GLBE)

Public Sector Pension Investment Board lifted its holdings in Global-E Online Ltd. (NASDAQ:GLBE) by 23.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 51,950 shares of the company’s stock after buying an additional 10,000 shares during the quarter. Public Sector Pension Investment Board’s holdings in Global-E Online were worth $1,997,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of GLBE. FMR LLC lifted its position in shares of Global-E Online by 4.1% during the third quarter. FMR LLC now owns 979,371 shares of the company’s stock worth $37,647,000 after purchasing an additional 38,597 shares during the last quarter. Daiwa Securities Group Inc. grew its stake in Global-E Online by 6.8% in the third quarter. Daiwa Securities Group Inc. now owns 7,800 shares of the company’s stock worth $300,000 after purchasing an additional 500 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Global-E Online by 10.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 71,151 shares of the company’s stock worth $2,735,000 after purchasing an additional 6,485 shares in the last quarter. Cedar Wealth Management LLC raised its position in Global-E Online by 32.5% during the 3rd quarter. Cedar Wealth Management LLC now owns 29,030 shares of the company’s stock valued at $1,116,000 after purchasing an additional 7,121 shares in the last quarter. Finally, Swiss National Bank lifted its holdings in shares of Global-E Online by 0.9% in the 3rd quarter. Swiss National Bank now owns 298,920 shares of the company’s stock worth $11,490,000 after buying an additional 2,600 shares during the period. 94.60% of the stock is owned by institutional investors.

Global-E Online Price Performance

Shares of GLBE opened at $53.18 on Friday. The company’s fifty day moving average price is $41.49 and its 200-day moving average price is $36.53. Global-E Online Ltd. has a 1-year low of $28.11 and a 1-year high of $53.99. The firm has a market capitalization of $8.73 billion, a PE ratio of -91.69 and a beta of 1.24.

Wall Street Analyst Weigh In

A number of research firms have commented on GLBE. JMP Securities raised their target price on shares of Global-E Online from $46.00 to $64.00 and gave the company a “market outperform” rating in a research report on Thursday, November 21st. Raymond James increased their target price on Global-E Online from $41.00 to $55.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Bank of America reduced their price target on Global-E Online from $47.00 to $45.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. UBS Group cut their target price on Global-E Online from $50.00 to $48.00 and set a “buy” rating on the stock in a research note on Friday, October 18th. Finally, Needham & Company LLC restated a “buy” rating and issued a $48.00 price target on shares of Global-E Online in a report on Monday, November 18th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $51.33.

About Global-E Online

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.