Global-E Online Ltd. (NASDAQ:GLBE) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC trimmed its stake in shares of Global-E Online Ltd. (NASDAQ:GLBE) by 37.6% in the 4th quarter, HoldingsChannel reports. The firm owned 568,050 shares of the company’s stock after selling 341,615 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Global-E Online were worth $30,542,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Fifth Third Bancorp lifted its stake in Global-E Online by 69.1% during the fourth quarter. Fifth Third Bancorp now owns 482 shares of the company’s stock valued at $26,000 after buying an additional 197 shares in the last quarter. Geneos Wealth Management Inc. lifted its position in shares of Global-E Online by 1,968.4% in the 4th quarter. Geneos Wealth Management Inc. now owns 786 shares of the company’s stock valued at $43,000 after acquiring an additional 748 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in Global-E Online in the 3rd quarter worth approximately $32,000. Blue Trust Inc. boosted its stake in Global-E Online by 696.1% in the 4th quarter. Blue Trust Inc. now owns 2,030 shares of the company’s stock worth $111,000 after purchasing an additional 1,775 shares during the period. Finally, Venturi Wealth Management LLC purchased a new position in Global-E Online during the 3rd quarter worth approximately $87,000. Institutional investors and hedge funds own 94.60% of the company’s stock.

Global-E Online Price Performance

Global-E Online stock opened at $62.84 on Friday. Global-E Online Ltd. has a one year low of $28.11 and a one year high of $63.25. The company’s fifty day moving average price is $56.64 and its two-hundred day moving average price is $45.01. The company has a market capitalization of $10.32 billion, a price-to-earnings ratio of -108.34, a PEG ratio of 6.16 and a beta of 1.23.

Analyst Ratings Changes

Several analysts have recently commented on GLBE shares. Jefferies Financial Group raised their target price on Global-E Online from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, November 18th. JMP Securities lifted their target price on Global-E Online from $46.00 to $64.00 and gave the company a “market outperform” rating in a research note on Thursday, November 21st. KeyCorp increased their price target on shares of Global-E Online from $55.00 to $65.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Raymond James boosted their price objective on shares of Global-E Online from $41.00 to $55.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Finally, Piper Sandler increased their target price on shares of Global-E Online from $63.00 to $66.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $54.08.

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.