Arohi Asset Management PTE Ltd. Has $24.20 Million Stock Holdings in Global-E Online Ltd. (NASDAQ:GLBE)

Arohi Asset Management PTE Ltd. increased its stake in Global-E Online Ltd. (NASDAQ:GLBE) by 128.4% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 629,606 shares of the company’s stock after purchasing an additional 353,973 shares during the quarter. Global-E Online makes up approximately 8.0% of Arohi Asset Management PTE Ltd.’s investment portfolio, making the stock its 3rd largest position. Arohi Asset Management PTE Ltd.’s holdings in Global-E Online were worth $24,202,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of GLBE. Dragoneer Investment Group LLC increased its holdings in shares of Global-E Online by 9.6% in the second quarter. Dragoneer Investment Group LLC now owns 14,734,024 shares of the company’s stock valued at $534,403,000 after purchasing an additional 1,288,829 shares during the last quarter. Abdiel Capital Advisors LP increased its stake in shares of Global-E Online by 1.4% in the 2nd quarter. Abdiel Capital Advisors LP now owns 6,776,495 shares of the company’s stock valued at $245,783,000 after purchasing an additional 95,741 shares during the last quarter. Clearbridge Investments LLC acquired a new position in Global-E Online during the second quarter worth about $83,036,000. Kayne Anderson Rudnick Investment Management LLC lifted its stake in Global-E Online by 30.0% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,639,490 shares of the company’s stock valued at $59,464,000 after purchasing an additional 378,827 shares during the last quarter. Finally, Eventide Asset Management LLC lifted its stake in shares of Global-E Online by 59.1% in the 3rd quarter. Eventide Asset Management LLC now owns 1,563,254 shares of the company’s stock valued at $60,091,000 after acquiring an additional 580,450 shares during the last quarter. Institutional investors own 94.60% of the company’s stock.

Global-E Online Trading Up 0.8 %

Shares of Global-E Online stock opened at $52.28 on Monday. The firm has a market capitalization of $8.59 billion, a PE ratio of -90.14 and a beta of 1.10. Global-E Online Ltd. has a 12 month low of $28.11 and a 12 month high of $52.75. The business’s 50-day moving average price is $40.60 and its 200-day moving average price is $36.03.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on GLBE shares. Raymond James boosted their target price on shares of Global-E Online from $41.00 to $55.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Piper Sandler reissued an “overweight” rating and issued a $63.00 price target (up from $44.00) on shares of Global-E Online in a research note on Thursday, November 21st. Needham & Company LLC reissued a “buy” rating and set a $48.00 price objective on shares of Global-E Online in a research report on Monday, November 18th. UBS Group reduced their price target on shares of Global-E Online from $50.00 to $48.00 and set a “buy” rating for the company in a research report on Friday, October 18th. Finally, KeyCorp increased their price objective on shares of Global-E Online from $38.00 to $55.00 and gave the company an “overweight” rating in a research note on Tuesday, November 26th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $51.33.

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.