Global-E Online Ltd. (NASDAQ:GLBE) Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. decreased its holdings in shares of Global-E Online Ltd. (NASDAQ:GLBE) by 12.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,289,805 shares of the company’s stock after selling 178,285 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.79% of Global-E Online worth $70,333,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Fifth Third Bancorp boosted its holdings in Global-E Online by 69.1% during the fourth quarter. Fifth Third Bancorp now owns 482 shares of the company’s stock worth $26,000 after buying an additional 197 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of Global-E Online during the 3rd quarter valued at $32,000. Geneos Wealth Management Inc. boosted its stake in shares of Global-E Online by 1,968.4% during the 4th quarter. Geneos Wealth Management Inc. now owns 786 shares of the company’s stock worth $43,000 after acquiring an additional 748 shares in the last quarter. Venturi Wealth Management LLC acquired a new position in shares of Global-E Online in the 3rd quarter worth $87,000. Finally, Quarry LP raised its position in shares of Global-E Online by 226.1% during the third quarter. Quarry LP now owns 2,286 shares of the company’s stock worth $88,000 after purchasing an additional 1,585 shares during the period. Institutional investors and hedge funds own 94.60% of the company’s stock.

Global-E Online Trading Down 0.6 %

NASDAQ GLBE opened at $59.49 on Monday. Global-E Online Ltd. has a 1-year low of $28.11 and a 1-year high of $61.51. The firm’s fifty day simple moving average is $55.72 and its 200-day simple moving average is $44.10. The company has a market capitalization of $9.77 billion, a PE ratio of -102.57, a price-to-earnings-growth ratio of 6.16 and a beta of 1.23.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Morgan Stanley cut Global-E Online from an “overweight” rating to an “equal weight” rating and set a $40.00 price target on the stock. in a research note on Friday, October 18th. Piper Sandler lifted their target price on shares of Global-E Online from $63.00 to $66.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. JMP Securities boosted their price target on shares of Global-E Online from $46.00 to $64.00 and gave the company a “market outperform” rating in a report on Thursday, November 21st. Benchmark raised their price objective on shares of Global-E Online from $41.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, November 18th. Finally, Wells Fargo & Company boosted their target price on shares of Global-E Online from $45.00 to $60.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $53.25.

Global-E Online Company 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.