Sumitomo Mitsui Trust Group Inc. Trims Holdings in Global-e Online Ltd. $GLBE

Sumitomo Mitsui Trust Group Inc. trimmed its holdings in Global-e Online Ltd. (NASDAQ:GLBE) by 8.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 902,523 shares of the company’s stock after selling 82,982 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.53% of Global-e Online worth $32,274,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of GLBE. Summit Creek Advisors LLC grew its holdings in Global-e Online by 12.3% in the third quarter. Summit Creek Advisors LLC now owns 305,363 shares of the company’s stock worth $10,920,000 after purchasing an additional 33,331 shares during the period. Robeco Institutional Asset Management B.V. lifted its stake in shares of Global-e Online by 79.1% in the third quarter. Robeco Institutional Asset Management B.V. now owns 86,839 shares of the company’s stock worth $3,105,000 after buying an additional 38,348 shares in the last quarter. Clay Northam Wealth Management LLC increased its holdings in shares of Global-e Online by 3.9% in the 3rd quarter. Clay Northam Wealth Management LLC now owns 24,740 shares of the company’s stock worth $885,000 after purchasing an additional 925 shares in the last quarter. Annex Advisory Services LLC raised its position in Global-e Online by 7.1% in the 3rd quarter. Annex Advisory Services LLC now owns 389,391 shares of the company’s stock worth $13,925,000 after buying an additional 25,932 shares during the last quarter. Finally, Institute for Wealth Management LLC. grew its stake in shares of Global-e Online by 13.0% in the third quarter. Institute for Wealth Management LLC. now owns 9,856 shares of the company’s stock worth $352,000 after acquiring an additional 1,136 shares during the period. 94.60% of the stock is owned by hedge funds and other institutional investors.

Global-e Online Stock Down 2.1%

Shares of Global-e Online stock opened at $37.50 on Friday. The business has a 50-day moving average price of $38.91 and a 200-day moving average price of $35.95. Global-e Online Ltd. has a twelve month low of $26.64 and a twelve month high of $63.69. The firm has a market cap of $6.36 billion, a price-to-earnings ratio of 1,250.42 and a beta of 1.24.

Global-e Online (NASDAQ:GLBE) last posted its earnings results on Wednesday, November 19th. The company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.01. Global-e Online had a return on equity of 0.81% and a net margin of 0.82%.The firm had revenue of $220.78 million during the quarter, compared to the consensus estimate of $217.95 million. During the same period in the prior year, the company earned ($0.13) EPS. The company’s quarterly revenue was up 25.5% compared to the same quarter last year. On average, equities analysts expect that Global-e Online Ltd. will post 0.25 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Benchmark restated a “buy” rating on shares of Global-e Online in a research report on Friday. Weiss Ratings reissued a “sell (d-)” rating on shares of Global-e Online in a report on Monday, December 29th. Needham & Company LLC upped their price target on Global-e Online from $40.00 to $47.00 and gave the stock a “buy” rating in a research report on Thursday, December 4th. Truist Financial set a $41.00 price objective on Global-e Online in a research report on Thursday, December 11th. Finally, Zacks Research raised shares of Global-e Online from a “hold” rating to a “strong-buy” rating in a report on Friday, December 19th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $49.91.

Global-e Online Company Profile

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.