Global-E Online Ltd. (NASDAQ:GLBE) Shares Sold by Brown Capital Management LLC

Brown Capital Management LLC reduced its position in Global-E Online Ltd. (NASDAQ:GLBE) by 3.7% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 1,847,060 shares of the company’s stock after selling 71,232 shares during the period. Global-E Online accounts for about 1.5% of Brown Capital Management LLC’s holdings, making the stock its 24th biggest holding. Brown Capital Management LLC owned 1.12% of Global-E Online worth $71,001,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. CIBC Asset Management Inc increased its holdings in shares of Global-E Online by 4.4% in the 3rd quarter. CIBC Asset Management Inc now owns 9,420 shares of the company’s stock valued at $362,000 after acquiring an additional 393 shares during the period. American International Group Inc. increased its stake in Global-E Online by 3.2% in the first 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 period. Daiwa Securities Group Inc. raised its holdings in shares of Global-E Online by 7.4% in the second quarter. Daiwa Securities Group Inc. now owns 7,300 shares of the company’s stock valued at $265,000 after buying an additional 500 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of Global-E Online by 1.6% during the third quarter. Van ECK Associates Corp now owns 32,828 shares of the company’s stock worth $1,235,000 after buying an additional 508 shares during the period. Finally, DekaBank Deutsche Girozentrale grew its holdings in shares of Global-E Online by 18.4% during the first quarter. DekaBank Deutsche Girozentrale now owns 4,010 shares of the company’s stock worth $146,000 after buying an additional 624 shares during the last quarter. 94.60% of the stock is owned by institutional investors and hedge funds.

Global-E Online Stock Performance

GLBE opened at $47.86 on Thursday. The company has a market cap of $7.86 billion, a price-to-earnings ratio of -73.63 and a beta of 1.10. Global-E Online Ltd. has a one year low of $28.11 and a one year high of $52.26. The business’s fifty day moving average is $38.65 and its two-hundred day moving average is $35.02.

Analyst Ratings Changes

GLBE has been the subject of several analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $48.00 price objective on shares of Global-E Online in a research note on Monday. JMP Securities increased 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. Wells Fargo & Company upped their price objective on shares of Global-E Online from $45.00 to $60.00 and gave the stock an “overweight” rating in a research report on Thursday. Morgan Stanley cut shares of Global-E Online from an “overweight” rating to an “equal weight” rating and set a $40.00 price target for the company. in a report on Friday, October 18th. Finally, Benchmark lifted 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. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $49.45.

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.