Sphera Funds Management LTD. Trims Stake in Global-E Online Ltd. (NASDAQ:GLBE)

Sphera Funds Management LTD. reduced its position in shares of Global-E Online Ltd. (NASDAQ:GLBE) by 3.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,384 shares of the company’s stock after selling 2,500 shares during the period. Sphera Funds Management LTD.’s holdings in Global-E Online were worth $2,475,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. State Street Corp grew its position in shares of 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 in the last quarter. Quantinno Capital Management LP purchased a new position in Global-E Online in the third quarter worth $252,000. Quarry LP grew its position in Global-E Online by 226.1% in the third quarter. Quarry LP now owns 2,286 shares of the company’s stock worth $88,000 after acquiring an additional 1,585 shares in the last quarter. Arohi Asset Management PTE Ltd. grew its position in Global-E Online by 128.4% in the third quarter. Arohi Asset Management PTE Ltd. now owns 629,606 shares of the company’s stock worth $24,202,000 after acquiring an additional 353,973 shares in the last quarter. Finally, Fred Alger Management LLC purchased a new position in Global-E Online in the third quarter worth $53,493,000. 94.60% of the stock is currently owned by hedge funds and other institutional investors.

Global-E Online Stock Up 1.7 %

Shares of NASDAQ:GLBE opened at $53.35 on Thursday. The company has a 50-day moving average price of $41.17 and a 200-day moving average price of $36.41. Global-E Online Ltd. has a 12 month low of $28.11 and a 12 month high of $53.50.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Bank of America cut their target price on shares of Global-E Online from $47.00 to $45.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. Raymond James upped their target price on shares of Global-E Online from $41.00 to $55.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Benchmark upped their target price 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. Wells Fargo & Company upped their target price on shares of Global-E Online from $45.00 to $60.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Finally, JMP Securities boosted their price target on shares of Global-E Online from $46.00 to $64.00 and gave the stock a “market outperform” rating in a research note on Thursday, November 21st. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Global-E Online presently has an average rating of “Moderate Buy” and an average target price of $51.33.

About Global-E Online

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.