Fred Alger Management LLC Has $15.30 Million Position in Global-e Online Ltd. $GLBE

Fred Alger Management LLC grew its holdings in Global-e Online Ltd. (NASDAQ:GLBE) by 3,347.5% in the third quarter, Holdings Channel.com reports. The firm owned 427,975 shares of the company’s stock after purchasing an additional 415,561 shares during the period. Fred Alger Management LLC’s holdings in Global-e Online were worth $15,304,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of GLBE. Virtus Advisers LLC purchased a new position in shares of Global-e Online during the second quarter valued at $47,000. Geneos Wealth Management Inc. lifted its stake in Global-e Online by 67.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,314 shares of the company’s stock worth $47,000 after acquiring an additional 528 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in Global-e Online by 780.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,823 shares of the company’s stock worth $61,000 after acquiring an additional 1,616 shares during the period. Jones Financial Companies Lllp boosted its position in Global-e Online by 237.7% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,955 shares of the company’s stock worth $72,000 after acquiring an additional 1,376 shares during the period. Finally, PNC Financial Services Group Inc. grew its stake in Global-e Online by 28.2% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,954 shares of the company’s stock valued at $106,000 after acquiring an additional 649 shares in the last quarter. Institutional investors and hedge funds own 94.60% of the company’s stock.

Global-e Online Price Performance

Shares of Global-e Online stock opened at $34.58 on Tuesday. The firm has a market cap of $5.87 billion, a price-to-earnings ratio of 93.46 and a beta of 1.24. Global-e Online Ltd. has a 52-week low of $26.64 and a 52-week high of $43.21. The stock has a 50-day simple moving average of $35.77 and a 200-day simple moving average of $36.50.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on GLBE shares. Morgan Stanley reiterated an “overweight” rating on shares of Global-e Online in a report on Thursday, February 19th. Wall Street Zen raised shares of Global-e Online from a “hold” rating to a “buy” rating in a research report on Saturday, February 21st. Zacks Research upgraded shares of Global-e Online from a “hold” rating to a “strong-buy” rating in a research note on Friday, December 19th. Needham & Company LLC increased their target price on shares of Global-e Online from $40.00 to $47.00 and gave the stock a “buy” rating in a research report on Thursday, December 4th. Finally, Bank of America reissued a “buy” rating on shares of Global-e Online in a research note on Wednesday, February 18th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $47.80.

Global-e Online Company Profile

Global-e Online Ltd. (NASDAQ: GLBE) is a leading cross-border e-commerce platform that enables online merchants to expand sales internationally. The company’s cloud-based solution integrates with major e-commerce systems to offer localized checkout experiences, dynamic currency conversion, import duties and taxes calculation, fraud prevention, and compliance with local trade regulations. By managing the end-to-end complexities of global transactions, Global-e helps retailers streamline their international operations and deliver a seamless shopping experience to customers worldwide.

Central to Global-e’s offering is a comprehensive suite of services that includes customizable checkout in the buyer’s local language, real-time display of prices in over 140 currencies, support for region-specific payment methods, and transparent calculation of duties and taxes at point of sale.