JPMorgan Chase & Co. Sells 1,045,314 Shares of Global-e Online Ltd. $GLBE

JPMorgan Chase & Co. trimmed its holdings in Global-e Online Ltd. (NASDAQ:GLBE) by 28.9% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,571,970 shares of the company’s stock after selling 1,045,314 shares during the period. JPMorgan Chase & Co.’s holdings in Global-e Online were worth $91,974,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Virtus Advisers LLC bought a new stake in Global-e Online in the second quarter worth $47,000. Geneos Wealth Management Inc. lifted its position in shares of Global-e Online by 67.2% in the first quarter. Geneos Wealth Management Inc. now owns 1,314 shares of the company’s stock worth $47,000 after buying an additional 528 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Global-e Online by 780.7% in the second quarter. Tower Research Capital LLC TRC now owns 1,823 shares of the company’s stock worth $61,000 after buying an additional 1,616 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in shares of Global-e Online by 237.7% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,955 shares of the company’s stock worth $72,000 after acquiring an additional 1,376 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in shares of 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 worth $106,000 after acquiring an additional 649 shares in the last quarter. Institutional investors own 94.60% of the company’s stock.

Wall Street Analyst Weigh In

GLBE has been the subject of several analyst reports. Bank of America restated a “buy” rating on shares of Global-e Online in a report on Wednesday, February 18th. Truist Financial lowered their price target on Global-e Online from $43.00 to $42.00 and set a “hold” rating on the stock in a report on Thursday, February 26th. Weiss Ratings reissued a “sell (d-)” rating on shares of Global-e Online in a research report on Monday, December 29th. Piper Sandler restated an “overweight” rating on shares of Global-e Online in a research note on Thursday, February 19th. Finally, Wall Street Zen raised shares of Global-e Online from a “hold” rating to a “buy” rating in a report on Saturday, February 21st. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $47.80.

Global-e Online Stock Down 2.0%

Shares of NASDAQ:GLBE opened at $33.89 on Wednesday. The company has a market cap of $5.75 billion, a price-to-earnings ratio of 91.59 and a beta of 1.24. The business has a 50 day moving average price of $35.69 and a 200 day moving average price of $36.51. Global-e Online Ltd. has a twelve month low of $26.64 and a twelve month high of $43.21.

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.