JPMorgan Chase & Co. Has $70.98 Million Stock Position in Global-E Online Ltd. (NASDAQ:GLBE)

JPMorgan Chase & Co. grew its stake in Global-E Online Ltd. (NASDAQ:GLBE) by 40.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,846,479 shares of the company’s stock after acquiring an additional 533,675 shares during the period. JPMorgan Chase & Co. owned 1.12% of Global-E Online worth $70,979,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. CIBC Asset Management Inc boosted its position in Global-E Online by 4.4% in the 3rd quarter. CIBC Asset Management Inc now owns 9,420 shares of the company’s stock valued at $362,000 after buying an additional 393 shares during the last quarter. Daiwa Securities Group Inc. raised its holdings in Global-E Online by 7.4% during the 2nd quarter. Daiwa Securities Group Inc. now owns 7,300 shares of the company’s stock worth $265,000 after purchasing an additional 500 shares during the last quarter. Van ECK Associates Corp lifted its position 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 purchasing an additional 508 shares during the period. Lombard Odier Asset Management USA Corp boosted its stake in shares of Global-E Online by 6.2% in the 2nd quarter. Lombard Odier Asset Management USA Corp now owns 10,782 shares of the company’s stock valued at $391,000 after purchasing an additional 632 shares during the last quarter. Finally, Focus Financial Network Inc. grew its position in shares of Global-E Online by 11.2% during the 3rd quarter. Focus Financial Network Inc. now owns 6,899 shares of the company’s stock worth $265,000 after buying an additional 694 shares during the period. 94.60% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

GLBE has been the topic of a number of recent research reports. Piper Sandler reaffirmed an “overweight” rating and issued a $63.00 price objective (up from $44.00) on shares of Global-E Online in a research note on Thursday, November 21st. Wells Fargo & Company increased their target price on Global-E Online from $45.00 to $60.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. UBS Group lowered their price target 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. Needham & Company LLC restated a “buy” rating and set a $48.00 price objective on shares of Global-E Online in a report on Monday, November 18th. Finally, Benchmark lifted their price target on shares of Global-E Online from $41.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, November 18th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $51.33.

Global-E Online Stock Performance

NASDAQ GLBE opened at $54.98 on Friday. The stock has a market capitalization of $9.03 billion, a price-to-earnings ratio of -94.79 and a beta of 1.24. Global-E Online Ltd. has a 52 week low of $28.11 and a 52 week high of $57.85. The stock’s 50 day moving average price is $49.06 and its two-hundred day moving average price is $40.17.

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.