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

Spyglass Capital Management LLC reduced its holdings in Global-E Online Ltd. (NASDAQ:GLBE) by 1.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,392,671 shares of the company’s stock after selling 21,215 shares during the quarter. Global-E Online accounts for about 3.5% of Spyglass Capital Management LLC’s investment portfolio, making the stock its 15th largest holding. Spyglass Capital Management LLC’s holdings in Global-E Online were worth $53,534,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Capital Performance Advisors LLP bought a new position in Global-E Online in the third quarter valued at approximately $32,000. Toronto Dominion Bank acquired a new stake in shares of Global-E Online in the second quarter valued at approximately $40,000. Venturi Wealth Management LLC acquired a new stake in shares of Global-E Online in the third quarter valued at approximately $87,000. DekaBank Deutsche Girozentrale lifted its position in shares of Global-E Online by 18.4% in the first quarter. DekaBank Deutsche Girozentrale now owns 4,010 shares of the company’s stock valued at $146,000 after buying an additional 624 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its position 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 valued at $215,000 after buying an additional 780 shares during the last quarter. 94.60% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on GLBE shares. Benchmark raised their price objective on Global-E Online from $41.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, November 18th. Piper Sandler reissued an “overweight” rating and set a $63.00 price target (up from $44.00) on shares of Global-E Online in a report on Thursday, November 21st. JMP Securities lifted their price target on Global-E Online from $46.00 to $64.00 and gave the stock a “market outperform” rating in a report on Thursday, November 21st. Raymond James lifted their price target on Global-E Online from $41.00 to $55.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Finally, UBS Group dropped their price target on Global-E Online from $50.00 to $48.00 and set a “buy” rating for the company in a report on Friday, October 18th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Global-E Online has a consensus rating of “Moderate Buy” and a consensus price target of $51.33.

Global-E Online Stock Performance

Shares of GLBE stock opened at $51.86 on Friday. Global-E Online Ltd. has a twelve month low of $28.11 and a twelve month high of $52.57. The stock’s fifty day simple moving average is $40.03 and its 200 day simple moving average is $35.72.

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.