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

Spyglass Capital Management LLC trimmed its stake in Global-E Online Ltd. (NASDAQ:GLBE) by 1.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,392,671 shares of the company’s stock after selling 21,215 shares during the period. Global-E Online comprises about 3.5% of Spyglass Capital Management LLC’s investment portfolio, making the stock its 15th largest position. Spyglass Capital Management LLC owned 0.85% of Global-E Online worth $53,534,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently bought and sold shares of the stock. Clearbridge Investments LLC acquired a new position in Global-E Online in the second quarter worth $83,036,000. Dragoneer Investment Group LLC boosted its stake in Global-E Online by 9.6% in the second 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 in the last quarter. Hood River Capital Management LLC acquired a new position in Global-E Online in the second quarter worth $36,182,000. Assenagon Asset Management S.A. boosted its stake in Global-E Online by 369.0% in the second 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 in the last quarter. Finally, American Century Companies Inc. boosted its stake in Global-E Online by 6,424.3% in the second quarter. American Century Companies Inc. now owns 506,746 shares of the company’s stock worth $18,380,000 after purchasing an additional 498,979 shares in the last quarter. 94.60% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on GLBE shares. KeyCorp upped their price target on Global-E Online from $38.00 to $55.00 and gave the company an “overweight” rating in a research note on Tuesday. Jefferies Financial Group upped their price target on Global-E Online from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Monday, November 18th. JMP Securities upped their price target 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. Benchmark upped their price target on Global-E Online from $41.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, November 18th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $63.00 price target (up previously from $44.00) on shares of Global-E Online in a research note on Thursday, November 21st. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, Global-E Online has an average rating of “Moderate Buy” and an average target price of $51.33.

Global-E Online Price Performance

NASDAQ:GLBE opened at $51.86 on Friday. Global-E Online Ltd. has a 1-year low of $28.11 and a 1-year high of $52.57. The business’s 50-day moving average price is $40.03 and its two-hundred day moving average price is $35.72.

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.