Abdiel Capital Advisors LP Has $227.85 Million Stock Holdings in Global-E Online Ltd. (NASDAQ:GLBE)

Abdiel Capital Advisors LP trimmed its holdings in shares of Global-E Online Ltd. (NASDAQ:GLBE) by 12.5% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,927,495 shares of the company’s stock after selling 849,000 shares during the period. Global-E Online makes up 13.8% of Abdiel Capital Advisors LP’s investment portfolio, making the stock its 5th largest holding. Abdiel Capital Advisors LP owned about 3.61% of Global-E Online worth $227,853,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Dragoneer Investment Group LLC grew its position in Global-E Online by 9.6% in the 2nd 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 period. Clearbridge Investments LLC bought a new position in shares of Global-E Online in the second quarter valued at $83,036,000. Kayne Anderson Rudnick Investment Management LLC lifted its stake in shares of Global-E Online by 30.0% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,639,490 shares of the company’s stock valued at $59,464,000 after buying an additional 378,827 shares in the last quarter. Eventide Asset Management LLC grew its holdings in shares of Global-E Online by 59.1% during the third quarter. Eventide Asset Management LLC now owns 1,563,254 shares of the company’s stock valued at $60,091,000 after buying an additional 580,450 shares during the last quarter. Finally, Fred Alger Management LLC bought a new stake in shares of Global-E Online during the third quarter worth about $53,493,000. Institutional investors and hedge funds own 94.60% of the company’s stock.

Global-E Online Stock Performance

Shares of GLBE stock opened at $52.28 on Friday. The firm’s 50 day moving average is $40.60 and its 200 day moving average is $35.99. Global-E Online Ltd. has a 12 month low of $28.11 and a 12 month high of $52.75.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on GLBE shares. UBS Group dropped their price target on shares of Global-E Online from $50.00 to $48.00 and set a “buy” rating on the stock in a research report on Friday, October 18th. Benchmark raised their target price on Global-E Online from $41.00 to $45.00 and gave the company a “buy” rating in a report on Monday, November 18th. KeyCorp upped their price target on Global-E Online from $38.00 to $55.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. Morgan Stanley cut Global-E Online from an “overweight” rating to an “equal weight” rating and set a $40.00 price objective on the stock. in a research note on Friday, October 18th. Finally, JMP Securities upped their target price 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 assigned a buy rating to the company. Based on data from MarketBeat.com, Global-E Online has a consensus rating of “Moderate Buy” and a consensus 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.