Global-e Online Ltd. $GLBE Position Lessened by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. decreased its stake in shares of Global-e Online Ltd. (NASDAQ:GLBE) by 5.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 210,164 shares of the company’s stock after selling 12,324 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Global-e Online were worth $8,350,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. State of Wyoming boosted its stake in Global-e Online by 70.1% during the third quarter. State of Wyoming now owns 20,086 shares of the company’s stock worth $798,000 after acquiring an additional 8,279 shares in the last quarter. Signaturefd LLC increased its holdings in Global-e Online by 58.5% during the 3rd quarter. Signaturefd LLC now owns 959 shares of the company’s stock worth $38,000 after purchasing an additional 354 shares in the last quarter. Seelaus Asset Management LLC raised its position in Global-e Online by 10.5% in the 3rd quarter. Seelaus Asset Management LLC now owns 14,858 shares of the company’s stock valued at $590,000 after buying an additional 1,409 shares during the last quarter. Moody National Bank Trust Division raised its holdings in shares of Global-e Online by 17.3% in the third quarter. Moody National Bank Trust Division now owns 51,315 shares of the company’s stock valued at $2,039,000 after purchasing an additional 7,550 shares during the last quarter. Finally, MCF Advisors LLC lifted its holdings in Global-e Online by 62.4% during the second quarter. MCF Advisors LLC now owns 1,437 shares of the company’s stock worth $50,000 after acquiring an additional 552 shares during the period. Institutional investors own 94.60% of the company’s stock.

Trending Headlines about Global-e Online

Here are the key news stories impacting Global-e Online this week:

• Positive Sentiment: Analyst coverage cited in a recent report remains broadly favorable: 13 analysts rated GLBE Buy and three Hold, with an average price target of $48.08. Insider trading report
• Negative Sentiment: President Nir Debbi sold a combined 132,651 shares in transactions from November 2–5, while COO Shahar Tamari sold 28,228 shares on November 4–5. The sales may weigh on sentiment, although both executives retain multi-million-share holdings and the reported reductions were small relative to their positions. SEC filing for President’s trades SEC filing for COO’s trades

Insider Transactions at Global-e Online

In other Global-e Online news, COO Shahar Tamari sold 27,957 shares of the company’s stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $44.48, for a total transaction of $1,243,527.36. Following the sale, the chief operating officer directly owned 3,728,736 shares of the company’s stock, valued at $165,854,177.28. This represents a 0.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Amir Schlachet sold 100,000 shares of the company’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $42.10, for a total transaction of $4,210,000.00. Following the sale, the chief executive officer directly owned 3,848,286 shares in the company, valued at approximately $162,012,840.60. This trade represents a 2.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 742,889 shares of company stock worth $30,637,208 over the last quarter. 11.60% of the stock is currently owned by corporate insiders.

Global-e Online Trading Down 0.8%

Shares of NASDAQ:GLBE traded down $0.36 during mid-day trading on Friday, reaching $42.97. The company had a trading volume of 895,483 shares, compared to its average volume of 1,321,050. The firm has a market cap of $7.29 billion, a price-to-earnings ratio of 49.97 and a beta of 1.10. The company’s 50-day moving average price is $39.81 and its 200-day moving average price is $35.84. Global-e Online Ltd. has a one year low of $26.84 and a one year high of $45.28.

Global-e Online (NASDAQ:GLBE) last announced its quarterly earnings data on Tuesday, June 30th. The company reported $0.37 earnings per share for the quarter. Global-e Online had a return on equity of 16.70% and a net margin of 13.87%. The business had revenue of $299.00 million during the quarter. On average, research analysts anticipate that Global-e Online Ltd. will post 1.32 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on GLBE shares. UBS Group set a $54.00 price objective on Global-e Online and gave the stock a “buy” rating in a research report on Thursday, August 13th. Wall Street Zen raised Global-e Online from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Needham & Company LLC reiterated a “buy” rating and set a $47.00 target price on shares of Global-e Online in a research note on Tuesday, September 1st. Raymond James Financial reissued an “outperform” rating and issued a $48.00 price target on shares of Global-e Online in a report on Thursday, August 13th. Finally, Piper Sandler restated an “overweight” rating and set a $48.00 price target on shares of Global-e Online in a research report on Tuesday, August 11th. Thirteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $48.08.

About Global-e Online

Global-e Online Ltd. (NASDAQ: GLBE) provides a cross-border e-commerce platform that helps merchants sell products to international customers. Its technology is designed to localize the online shopping experience for different markets, including language, currency, payment methods, pricing, taxes and duties.

The company’s platform also supports international shipping, order management, fraud prevention, customer service and returns. Global-e works with brands and retailers to integrate global e-commerce capabilities into their existing websites and digital commerce operations, helping them manage the operational and regulatory complexities of international sales.

Founded in 2013, Global-e serves merchants and shoppers across international markets.