Clay Northam Wealth Management LLC Acquires 675 Shares of Global-E Online Ltd. (NASDAQ:GLBE)

Clay Northam Wealth Management LLC lifted its position in Global-E Online Ltd. (NASDAQ:GLBE) by 3.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,030 shares of the company’s stock after purchasing an additional 675 shares during the quarter. Global-E Online accounts for about 0.8% of Clay Northam Wealth Management LLC’s holdings, making the stock its 22nd largest holding. Clay Northam Wealth Management LLC’s holdings in Global-E Online were worth $1,256,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. JPMorgan Chase & Co. raised its position in Global-E Online by 40.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,846,479 shares of the company’s stock valued at $70,979,000 after purchasing an additional 533,675 shares during the last quarter. Eventide Asset Management LLC raised its position in Global-E Online by 59.1% during the 3rd quarter. Eventide Asset Management LLC now owns 1,563,254 shares of the company’s stock valued at $60,091,000 after purchasing an additional 580,450 shares during the last quarter. State Street Corp raised its position in Global-E Online by 3.7% during the 3rd quarter. State Street Corp now owns 1,550,647 shares of the company’s stock valued at $59,607,000 after purchasing an additional 55,760 shares during the last quarter. Fred Alger Management LLC bought a new position in Global-E Online during the 3rd quarter valued at approximately $53,493,000. Finally, FMR LLC raised its position in Global-E Online by 4.1% during the 3rd quarter. FMR LLC now owns 979,371 shares of the company’s stock valued at $37,647,000 after purchasing an additional 38,597 shares during the last quarter. 94.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on GLBE. Needham & Company LLC reissued a “buy” rating and issued a $48.00 target price on shares of Global-E Online in a research report on Monday, November 18th. Benchmark increased their target price on Global-E Online from $41.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, November 18th. Morgan Stanley lowered 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. Piper Sandler increased their target price on Global-E Online from $63.00 to $66.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Finally, JMP Securities increased their target price on Global-E Online from $46.00 to $64.00 and gave the stock a “market outperform” rating in a research report 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $53.25.

Global-E Online Stock Down 2.2 %

Shares of NASDAQ GLBE opened at $58.55 on Tuesday. The business has a fifty day simple moving average of $55.10 and a two-hundred day simple moving average of $43.41. The firm has a market cap of $9.62 billion, a PE ratio of -100.95, a price-to-earnings-growth ratio of 6.16 and a beta of 1.23. Global-E Online Ltd. has a twelve month low of $28.11 and a twelve month high of $61.51.

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.