Global-e Online Ltd. $GLBE Shares Purchased by Fred Alger Management LLC

Key Points

• Fred Alger Management increased its stake in Global‑e by 3,347.5% in Q3, adding 415,561 shares to hold 427,975 shares (about 0.25% of the company) worth $15.3 million, and institutional investors now own 94.6% of GLBE.
• GLBE trades around $34.58 with a market cap of $5.87 billion, a P/E of 93.46 and a 52‑week range of $26.64–$43.21; analysts give an average rating of “Moderate Buy” with an average target of $47.80 (some targets as high as $60).

Fred Alger Management LLC raised its holdings in shares of Global-e Online Ltd. (NASDAQ:GLBE - Free Report) by 3,347.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 427,975 shares of the company's stock after acquiring an additional 415,561 shares during the period. Fred Alger Management LLC owned approximately 0.25% of Global-e Online worth $15,304,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in GLBE. Geneos Wealth Management Inc. increased its holdings in shares of Global-e Online by 67.2% during the first quarter. Geneos Wealth Management Inc. now owns 1,314 shares of the company's stock valued at $47,000 after purchasing an additional 528 shares during the period. Virtus Advisers LLC acquired a new stake in Global-e Online in the second quarter worth about $47,000. Tower Research Capital LLC TRC grew its position in Global-e Online by 780.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,823 shares of the company's stock valued at $61,000 after buying an additional 1,616 shares in the last quarter. Jones Financial Companies Lllp grew its position in Global-e Online by 237.7% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,955 shares of the company's stock valued at $72,000 after buying an additional 1,376 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in Global-e Online by 28.2% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,954 shares of the company's stock valued at $106,000 after buying an additional 649 shares during the period. Institutional investors and hedge funds own 94.60% of the company's stock.

Global-e Online Price Performance

Shares of GLBE opened at $34.58 on Tuesday. The company has a 50-day moving average of $35.77 and a two-hundred day moving average of $36.50. The stock has a market cap of $5.87 billion, a price-to-earnings ratio of 93.46 and a beta of 1.24. Global-e Online Ltd. has a one year low of $26.64 and a one year high of $43.21.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on GLBE shares. Bank of America reaffirmed a "buy" rating on shares of Global-e Online in a research note on Wednesday, February 18th. Truist Financial decreased their price target on Global-e Online from $43.00 to $42.00 and set a "hold" rating for the company in a research note on Thursday, February 26th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Global-e Online in a research report on Monday, December 29th. Zacks Research upgraded Global-e Online from a "hold" rating to a "strong-buy" rating in a report on Friday, December 19th. Finally, Benchmark raised their price objective on shares of Global-e Online from $52.00 to $60.00 and gave the company a "buy" rating in a research report on Thursday, February 19th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Global-e Online has an average rating of "Moderate Buy" and an average target price of $47.80.

About Global-e Online

Global-e Online Ltd. NASDAQ: GLBE is a leading cross-border e-commerce platform that enables online merchants to expand sales internationally. The company's cloud-based solution integrates with major e-commerce systems to offer localized checkout experiences, dynamic currency conversion, import duties and taxes calculation, fraud prevention, and compliance with local trade regulations. By managing the end-to-end complexities of global transactions, Global-e helps retailers streamline their international operations and deliver a seamless shopping experience to customers worldwide.

Central to Global-e's offering is a comprehensive suite of services that includes customizable checkout in the buyer's local language, real-time display of prices in over 140 currencies, support for region-specific payment methods, and transparent calculation of duties and taxes at point of sale.

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