Sumitomo Mitsui Trust Group Inc. Sells 220,572 Shares of Global-e Online Ltd. $GLBE

Sumitomo Mitsui Trust Group Inc. lessened its holdings in shares of Global-e Online Ltd. (NASDAQ:GLBE) by 18.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 985,505 shares of the company’s stock after selling 220,572 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Global-e Online were worth $33,054,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GLBE. Berbice Capital Management LLC acquired a new position in Global-e Online during the first quarter valued at approximately $36,000. Assetmark Inc. acquired a new position in Global-e Online during the first quarter valued at approximately $45,000. Geneos Wealth Management Inc. grew its holdings in Global-e Online by 67.2% during the first quarter. Geneos Wealth Management Inc. now owns 1,314 shares of the company’s stock valued at $47,000 after purchasing an additional 528 shares during the last quarter. Pacer Advisors Inc. grew its holdings in Global-e Online by 52.9% during the first quarter. Pacer Advisors Inc. now owns 1,410 shares of the company’s stock valued at $50,000 after purchasing an additional 488 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new position in Global-e Online during the first quarter valued at approximately $68,000. Institutional investors own 94.60% of the company’s stock.

Global-e Online Price Performance

GLBE opened at $36.10 on Wednesday. Global-e Online Ltd. has a fifty-two week low of $26.64 and a fifty-two week high of $63.69. The firm’s fifty day moving average price is $34.92 and its two-hundred day moving average price is $34.02. The company has a market capitalization of $6.13 billion, a P/E ratio of -212.35, a P/E/G ratio of 1.86 and a beta of 1.25.

Global-e Online (NASDAQ:GLBE) last issued its quarterly earnings data on Wednesday, August 13th. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.04. The company had revenue of $214.88 million during the quarter, compared to analysts’ expectations of $207.95 million. Global-e Online had a negative return on equity of 3.20% and a negative net margin of 3.37%.The business’s revenue was up 27.9% on a year-over-year basis. During the same period last year, the business earned ($0.13) earnings per share. Global-e Online has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, equities research analysts expect that Global-e Online Ltd. will post 0.25 EPS for the current fiscal year.

Global-e Online announced that its Board of Directors has approved a share buyback program on Thursday, September 4th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the company to repurchase up to 3.5% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

Several equities analysts have commented on GLBE shares. Weiss Ratings reiterated a “sell (d+)” rating on shares of Global-e Online in a report on Wednesday, October 8th. The Goldman Sachs Group increased their price target on Global-e Online from $39.00 to $44.00 and gave the company a “buy” rating in a report on Monday, October 13th. Truist Financial increased their price target on Global-e Online from $31.00 to $32.00 and gave the company a “sell” rating in a report on Thursday, July 17th. Finally, Zacks Research upgraded Global-e Online to a “hold” rating in a report on Friday, August 8th. Eleven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $48.08.

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.