Main Management ETF Advisors LLC Invests $1.88 Million in Global-E Online Ltd. (NASDAQ:GLBE)

Main Management ETF Advisors LLC bought a new position in shares of Global-E Online Ltd. (NASDAQ:GLBE) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 48,888 shares of the company’s stock, valued at approximately $1,879,000.

Several other institutional investors and hedge funds have also made changes to their positions in GLBE. Clearbridge Investments LLC acquired a new position in shares of Global-E Online during the 2nd quarter worth approximately $83,036,000. Fred Alger Management LLC acquired a new position in shares of Global-E Online during the 3rd quarter worth approximately $53,493,000. Dragoneer Investment Group LLC boosted its holdings in shares of Global-E Online by 9.6% during the 2nd quarter. Dragoneer Investment Group LLC now owns 14,734,024 shares of the company’s stock worth $534,403,000 after purchasing an additional 1,288,829 shares during the last quarter. Hood River Capital Management LLC acquired a new position in shares of Global-E Online during the 2nd quarter worth approximately $36,182,000. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of Global-E Online by 369.0% during the 2nd quarter. Assenagon Asset Management S.A. now owns 847,094 shares of the company’s stock worth $30,724,000 after purchasing an additional 666,491 shares during the last quarter. 94.60% of the stock is currently owned by institutional investors and hedge funds.

Global-E Online Stock Up 1.9 %

NASDAQ:GLBE opened at $54.21 on Friday. The stock’s fifty day moving average is $42.12 and its two-hundred day moving average is $36.81. Global-E Online Ltd. has a 52 week low of $28.11 and a 52 week high of $54.24. The stock has a market capitalization of $8.90 billion, a price-to-earnings ratio of -93.47 and a beta of 1.24.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on GLBE shares. Piper Sandler reiterated an “overweight” rating and issued a $63.00 price objective (up from $44.00) on shares of Global-E Online in a report on Thursday, November 21st. Benchmark upped their price objective on Global-E Online from $41.00 to $45.00 and gave the company a “buy” rating in a report on Monday, November 18th. 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. JMP Securities upped their price objective on Global-E Online from $46.00 to $64.00 and gave the company a “market outperform” rating in a report on Thursday, November 21st. Finally, Morgan Stanley cut Global-E Online from an “overweight” rating to an “equal weight” rating and set a $40.00 price objective on the stock. in a report on Friday, October 18th. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price 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.