Penserra Capital Management LLC Sells 8,448 Shares of Global-E Online Ltd. (NASDAQ:GLBE)

Penserra Capital Management LLC reduced its stake in shares of Global-E Online Ltd. (NASDAQ:GLBE) by 18.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,608 shares of the company’s stock after selling 8,448 shares during the period. Penserra Capital Management LLC’s holdings in Global-E Online were worth $1,407,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Russell Investments Group Ltd. lifted its holdings in Global-E Online by 15.2% during the first quarter. Russell Investments Group Ltd. now owns 5,911 shares of the company’s stock valued at $215,000 after purchasing an additional 780 shares in the last quarter. American International Group Inc. boosted its holdings in Global-E Online by 3.2% in the 1st quarter. American International Group Inc. now owns 15,619 shares of the company’s stock worth $568,000 after buying an additional 484 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Global-E Online by 28.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,985 shares of the company’s stock worth $654,000 after buying an additional 3,985 shares in the last quarter. Silvercrest Asset Management Group LLC bought a new stake in Global-E Online during the first quarter valued at about $480,000. Finally, California State Teachers Retirement System lifted its position in shares of Global-E Online by 12.4% in the first quarter. California State Teachers Retirement System now owns 127,869 shares of the company’s stock valued at $4,648,000 after acquiring an additional 14,139 shares in the last quarter. 94.60% of the stock is currently owned by institutional investors.

Global-E Online Stock Performance

Shares of Global-E Online stock opened at $51.66 on Wednesday. The stock has a market cap of $8.49 billion, a price-to-earnings ratio of -89.07 and a beta of 1.10. The stock has a 50 day moving average price of $39.47 and a 200-day moving average price of $35.45. Global-E Online Ltd. has a one year low of $28.11 and a one year high of $52.57.

Analysts Set New Price Targets

Several analysts recently issued reports on GLBE shares. Piper Sandler reiterated an “overweight” rating and set a $63.00 target price (up previously from $44.00) on shares of Global-E Online in a research report on Thursday, November 21st. Bank of America reduced their price objective on shares of Global-E Online from $47.00 to $45.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. Morgan Stanley lowered shares of Global-E Online from an “overweight” rating to an “equal weight” rating and set a $40.00 target price for the company. in a research report on Friday, October 18th. Raymond James lifted their price target on shares of Global-E Online from $41.00 to $55.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Finally, JMP Securities increased their price objective on shares of Global-E Online from $46.00 to $64.00 and gave the company a “market outperform” rating in a report on Thursday, November 21st. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $51.33.

Global-E Online Company 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.