Meitav Investment House Ltd. Raises Stake in Global-e Online Ltd. (NASDAQ:GLBE)

Meitav Investment House Ltd. increased its stake in Global-e Online Ltd. (NASDAQ:GLBE) by 12.7% during the second quarter, according to its most recent filing with the SEC. The fund owned 522,928 shares of the company’s stock after buying an additional 59,028 shares during the quarter. Meitav Investment House Ltd. owned 0.32% of Global-e Online worth $21,132,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GLBE. Quarry LP lifted its holdings in Global-e Online by 169.9% during the first quarter. Quarry LP now owns 915 shares of the company’s stock valued at $29,000 after purchasing an additional 576 shares during the last quarter. Global Retirement Partners LLC lifted its holdings in Global-e Online by 57.0% during the second quarter. Global Retirement Partners LLC now owns 1,102 shares of the company’s stock valued at $45,000 after purchasing an additional 400 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in Global-e Online by 66.6% during the second quarter. Pacer Advisors Inc. now owns 1,156 shares of the company’s stock valued at $47,000 after purchasing an additional 462 shares during the last quarter. Money Concepts Capital Corp purchased a new stake in Global-e Online during the fourth quarter valued at about $40,000. Finally, Rockefeller Capital Management L.P. lifted its holdings in Global-e Online by 23.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 2,025 shares of the company’s stock valued at $41,000 after purchasing an additional 378 shares during the last quarter. 59.23% of the stock is owned by hedge funds and other institutional investors.

Global-e Online Trading Up 7.6 %

GLBE stock opened at $39.44 on Wednesday. The company’s 50 day moving average is $37.06 and its 200 day moving average is $37.50. The stock has a market cap of $6.48 billion, a price-to-earnings ratio of -36.86 and a beta of 1.34. Global-e Online Ltd. has a 1-year low of $18.14 and a 1-year high of $45.72.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Benchmark assumed coverage on shares of Global-e Online in a report on Monday, August 7th. They set a “buy” rating and a $50.00 price objective on the stock. Raymond James increased their price target on shares of Global-e Online from $40.00 to $45.00 and gave the stock an “outperform” rating in a report on Wednesday, August 9th. Jefferies Financial Group increased their price target on shares of Global-e Online from $40.00 to $45.00 in a report on Tuesday, August 8th. Needham & Company LLC increased their price target on shares of Global-e Online from $44.00 to $48.00 and gave the stock a “buy” rating in a report on Wednesday, August 9th. Finally, KeyCorp increased their price target on shares of Global-e Online from $40.00 to $42.00 and gave the stock an “overweight” rating in a report on Wednesday, August 9th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $45.40.

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.