Cedar Wealth Management LLC Buys 7,121 Shares of Global-E Online Ltd. (NASDAQ:GLBE)

Cedar Wealth Management LLC raised its stake in Global-E Online Ltd. (NASDAQ:GLBE) by 32.5% during the 3rd quarter, Holdings Channel.com reports. The firm owned 29,030 shares of the company’s stock after buying an additional 7,121 shares during the period. Cedar Wealth Management LLC’s holdings in Global-E Online were worth $1,116,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Capital Performance Advisors LLP bought a new stake in shares of Global-E Online during the 3rd quarter worth about $32,000. Toronto Dominion Bank acquired a new stake in Global-E Online during the second quarter worth approximately $40,000. Venturi Wealth Management LLC acquired a new stake in Global-E Online during the third quarter worth approximately $87,000. DekaBank Deutsche Girozentrale grew its position in shares of Global-E Online by 18.4% in the first quarter. DekaBank Deutsche Girozentrale now owns 4,010 shares of the company’s stock valued at $146,000 after purchasing an additional 624 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its position in shares of Global-E Online by 15.2% in the first quarter. Russell Investments Group Ltd. now owns 5,911 shares of the company’s stock valued at $215,000 after purchasing an additional 780 shares during the last quarter. 94.60% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on GLBE. Needham & Company LLC reiterated a “buy” rating and set a $48.00 price objective on shares of Global-E Online in a research report on Monday. Benchmark raised their price target 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. Bank of America cut their price objective on shares of Global-E Online from $47.00 to $45.00 and set a “buy” rating for the company in a report on Thursday, August 15th. UBS Group lowered their target price on shares of Global-E Online from $50.00 to $48.00 and set a “buy” rating on the stock in a report on Friday, October 18th. Finally, Jefferies Financial Group boosted their price target on Global-E Online from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Monday. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $44.27.

Global-E Online Price Performance

Shares of NASDAQ GLBE opened at $42.74 on Wednesday. The company has a 50 day simple moving average of $38.42 and a 200 day simple moving average of $34.93. Global-E Online Ltd. has a 1 year low of $28.11 and a 1 year high of $43.52. The firm has a market cap of $7.02 billion, a PE ratio of -65.75 and a beta of 1.10.

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.