Sumitomo Mitsui Trust Group Inc. Decreases Stock Position in Global-E Online Ltd. (NASDAQ:GLBE)

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

Other large investors have also recently made changes to their positions in the company. Fred Alger Management LLC acquired a new stake in Global-E Online in the 3rd quarter worth about $53,493,000. SG Americas Securities LLC lifted its position in Global-E Online by 5,939.0% during the fourth quarter. SG Americas Securities LLC now owns 636,393 shares of the company's stock worth $34,703,000 after buying an additional 625,855 shares in the last quarter. Eventide Asset Management LLC boosted its stake in Global-E Online by 59.1% during the third quarter. Eventide Asset Management LLC now owns 1,563,254 shares of the company's stock worth $60,091,000 after buying an additional 580,450 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Global-E Online by 40.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,846,479 shares of the company's stock valued at $70,979,000 after buying an additional 533,675 shares in the last quarter. Finally, Arohi Asset Management PTE Ltd. increased its stake in shares of Global-E Online by 128.4% in the 3rd quarter. Arohi Asset Management PTE Ltd. now owns 629,606 shares of the company's stock worth $24,202,000 after acquiring an additional 353,973 shares during the last quarter. 94.60% of the stock is currently owned by institutional investors and hedge funds.

Global-E Online Stock Performance

Shares of NASDAQ GLBE traded down $0.09 during trading on Tuesday, reaching $61.73. The stock had a trading volume of 553,251 shares, compared to its average volume of 1,224,631. The business's 50-day moving average price is $55.91 and its 200-day moving average price is $44.29. Global-E Online Ltd. has a fifty-two week low of $28.11 and a fifty-two week high of $62.85. The company has a market cap of $10.14 billion, a P/E ratio of -106.55, a PEG ratio of 6.16 and a beta of 1.23.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Piper Sandler boosted their price target on shares of Global-E Online from $63.00 to $66.00 and gave the company an "overweight" rating in a research report on Monday, January 6th. Jefferies Financial Group boosted their target price on shares of Global-E Online from $45.00 to $50.00 and gave the company a "buy" rating in a report on Monday, November 18th. UBS Group cut their price target on shares of Global-E Online from $50.00 to $48.00 and set a "buy" rating for the company in a report on Friday, October 18th. Morgan Stanley lowered shares of 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 report on Friday, October 18th. Finally, KeyCorp increased their price objective on Global-E Online from $55.00 to $65.00 and gave the stock an "overweight" rating in a research report on Monday. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, Global-E Online currently has a consensus rating of "Moderate Buy" and a consensus target price of $54.08.

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.