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

Migdal Insurance & Financial Holdings Ltd. cut its stake in shares of Global-E Online Ltd. (NASDAQ:GLBE) by 61.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 180,000 shares of the company’s stock after selling 281,000 shares during the period. Migdal Insurance & Financial Holdings Ltd. owned about 0.11% of Global-E Online worth $9,815,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of GLBE. Fifth Third Bancorp increased its stake in shares of Global-E Online by 69.1% in the fourth quarter. Fifth Third Bancorp now owns 482 shares of the company’s stock worth $26,000 after purchasing an additional 197 shares in the last quarter. CIBC Asset Management Inc grew its position in shares of Global-E Online by 4.4% during the third quarter. CIBC Asset Management Inc now owns 9,420 shares of the company’s stock worth $362,000 after purchasing an additional 393 shares in the last quarter. Juncture Wealth Strategies LLC raised its stake in Global-E Online by 3.9% during the 4th quarter. Juncture Wealth Strategies LLC now owns 13,161 shares of the company’s stock valued at $718,000 after purchasing an additional 494 shares during the period. Daiwa Securities Group Inc. boosted its stake in Global-E Online by 6.8% in the 3rd quarter. Daiwa Securities Group Inc. now owns 7,800 shares of the company’s stock worth $300,000 after purchasing an additional 500 shares during the period. Finally, Van ECK Associates Corp grew its holdings in Global-E Online by 1.6% during the 3rd quarter. Van ECK Associates Corp now owns 32,828 shares of the company’s stock valued at $1,235,000 after buying an additional 508 shares in the last quarter. Hedge funds and other institutional investors own 94.60% of the company’s stock.

Global-E Online Stock Performance

NASDAQ:GLBE opened at $59.86 on Friday. Global-E Online Ltd. has a fifty-two week low of $28.11 and a fifty-two week high of $61.51. The company’s 50-day simple moving average is $55.58 and its 200-day simple moving average is $43.81.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on GLBE shares. Jefferies Financial Group lifted their price objective on Global-E Online from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday, November 18th. Piper Sandler increased their price target on shares of Global-E Online from $63.00 to $66.00 and gave the company an “overweight” rating in a report on Monday, January 6th. JMP Securities boosted their price objective on Global-E Online from $46.00 to $64.00 and gave the stock a “market outperform” rating in a research note on Thursday, November 21st. UBS Group lowered their price objective on Global-E Online from $50.00 to $48.00 and set a “buy” rating for the company in a research note on Friday, October 18th. Finally, Needham & Company LLC restated a “buy” rating and issued a $48.00 price target on shares of Global-E Online in a research report on Monday, November 18th. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $53.25.

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.