Wellington Management Group LLP Buys 272,631 Shares of Global-E Online Ltd. (NASDAQ:GLBE)

Wellington Management Group LLP increased its stake in Global-E Online Ltd. (NASDAQ:GLBE) by 44.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 892,032 shares of the company’s stock after buying an additional 272,631 shares during the period. Wellington Management Group LLP’s holdings in Global-E Online were worth $34,290,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GLBE. CIBC Asset Management Inc grew its stake 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 worth $362,000 after acquiring an additional 393 shares in the last quarter. Daiwa Securities Group Inc. grew its stake in Global-E Online by 7.4% in the second quarter. Daiwa Securities Group Inc. now owns 7,300 shares of the company’s stock worth $265,000 after purchasing an additional 500 shares in the last quarter. Van ECK Associates Corp increased its holdings 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 worth $1,235,000 after purchasing an additional 508 shares during the period. Lombard Odier Asset Management USA Corp raised its position in Global-E Online by 6.2% during 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 in the last quarter. Finally, Focus Financial Network Inc. lifted its holdings in shares of Global-E Online by 11.2% in 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. Institutional investors own 94.60% of the company’s stock.

Global-E Online Price Performance

NASDAQ:GLBE opened at $55.58 on Friday. The firm has a market capitalization of $9.13 billion, a P/E ratio of -95.83 and a beta of 1.24. The company’s fifty day moving average price is $43.50 and its 200-day moving average price is $37.49. Global-E Online Ltd. has a 1-year low of $28.11 and a 1-year high of $55.94.

Wall Street Analyst Weigh In

GLBE has been the topic of several recent research reports. Needham & Company LLC reiterated a “buy” rating and set a $48.00 target price on shares of Global-E Online in a report on Monday, November 18th. Wells Fargo & Company upped their target price on Global-E Online from $45.00 to $60.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. Jefferies Financial Group raised their price target on Global-E Online from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Monday, November 18th. Benchmark upped their price objective on shares of Global-E Online from $41.00 to $45.00 and gave the company a “buy” rating in a report on Monday, November 18th. Finally, UBS Group decreased their price objective 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. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Global-E Online presently has an average rating of “Moderate Buy” and an average price target 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.