Migdal Insurance & Financial Holdings Ltd. Reduces Stake in Global-E Online Ltd. (NASDAQ:GLBE)

Migdal Insurance & Financial Holdings Ltd. trimmed its holdings in shares of Global-E Online Ltd. (NASDAQ:GLBE) by 61.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 180,000 shares of the company’s stock after selling 281,000 shares during the period. Migdal Insurance & Financial Holdings Ltd.’s holdings in Global-E Online were worth $9,815,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Fred Alger Management LLC acquired a new stake in Global-E Online during the 3rd quarter worth about $53,493,000. SG Americas Securities LLC grew its holdings in Global-E Online by 5,939.0% during the fourth quarter. SG Americas Securities LLC now owns 636,393 shares of the company’s stock worth $34,703,000 after acquiring an additional 625,855 shares during the period. Eventide Asset Management LLC raised its position in Global-E Online by 59.1% during the third quarter. Eventide Asset Management LLC now owns 1,563,254 shares of the company’s stock valued at $60,091,000 after acquiring an additional 580,450 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Global-E Online by 40.7% in the third quarter. JPMorgan Chase & Co. now owns 1,846,479 shares of the company’s stock valued at $70,979,000 after acquiring an additional 533,675 shares during the period. Finally, Arohi Asset Management PTE Ltd. boosted its position in Global-E Online by 128.4% in the 3rd quarter. Arohi Asset Management PTE Ltd. now owns 629,606 shares of the company’s stock worth $24,202,000 after purchasing an additional 353,973 shares in the last quarter. 94.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on GLBE shares. Wells Fargo & Company boosted their target price 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, November 21st. Piper Sandler raised their target price on Global-E Online from $63.00 to $66.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. The Goldman Sachs Group increased their price target on Global-E Online from $56.00 to $63.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. Jefferies Financial Group boosted their price objective 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. Finally, Morgan Stanley lowered Global-E Online from an “overweight” rating to an “equal weight” rating and set a $40.00 target price on the stock. in a research report on Friday, October 18th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Global-E Online currently has an average rating of “Moderate Buy” and a consensus target price of $53.25.

Global-E Online Stock Down 0.8 %

Shares of GLBE stock opened at $59.86 on Friday. The company has a 50-day moving average of $55.58 and a two-hundred day moving average of $43.81. Global-E Online Ltd. has a 1-year low of $28.11 and a 1-year high of $61.51.

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.