Sumitomo Mitsui Trust Group Inc. decreased its position in Global-E Online Ltd. (NASDAQ:GLBE - Free Report) by 5.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,468,090 shares of the company's stock after selling 77,971 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.89% of Global-E Online worth $56,433,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of GLBE. Sei Investments Co. boosted its position in shares of Global-E Online by 10.0% during the 1st quarter. Sei Investments Co. now owns 262,603 shares of the company's stock worth $9,546,000 after purchasing an additional 23,823 shares in the last quarter. Tidal Investments LLC acquired a new position in Global-E Online during the 1st quarter valued at about $2,521,000. Capital International Investors grew its holdings in Global-E Online by 51.2% during the first quarter. Capital International Investors now owns 1,003,229 shares of the company's stock worth $36,467,000 after buying an additional 339,591 shares in the last quarter. Dragoneer Investment Group LLC grew its stake in shares of Global-E Online by 9.6% in the 2nd quarter. Dragoneer Investment Group LLC now owns 14,734,024 shares of the company's stock worth $534,403,000 after acquiring an additional 1,288,829 shares in the last quarter. Finally, WINTON GROUP Ltd bought a new position in shares of Global-E Online during the second quarter valued at about $623,000. 94.60% of the stock is currently owned by institutional investors and hedge funds.
Global-E Online Stock Performance
GLBE stock traded down $0.72 during trading on Friday, hitting $40.30. 644,666 shares of the company traded hands, compared to its average volume of 1,089,059. Global-E Online Ltd. has a 1 year low of $28.11 and a 1 year high of $43.52. The company has a 50-day moving average of $38.16 and a 200-day moving average of $34.77. The firm has a market capitalization of $6.62 billion, a PE ratio of -62.00 and a beta of 1.10.
Global-E Online (NASDAQ:GLBE - Get Free Report) last released its quarterly earnings data on Wednesday, August 14th. The company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.03. Global-E Online had a negative return on equity of 16.41% and a negative net margin of 17.33%. The company had revenue of $168.00 million for the quarter, compared to analysts' expectations of $165.95 million. During the same period last year, the firm posted ($0.22) earnings per share. Global-E Online's revenue was up 26.0% compared to the same quarter last year. Sell-side analysts expect that Global-E Online Ltd. will post -0.5 EPS for the current year.
Analyst Ratings Changes
GLBE has been the subject of a number of recent analyst reports. Morgan Stanley downgraded shares of Global-E Online from an "overweight" rating to an "equal weight" rating and set a $40.00 price objective for the company. in a research report on Friday, October 18th. UBS Group reduced their target price on shares of Global-E Online from $50.00 to $48.00 and set a "buy" rating for the company in a research report on Friday, October 18th. Needham & Company LLC reissued a "buy" rating and set a $48.00 price objective on shares of Global-E Online in a report on Thursday, August 15th. Bank of America dropped their price target on Global-E Online from $47.00 to $45.00 and set a "buy" rating on the stock in a research report on Thursday, August 15th. Finally, KeyCorp decreased their price objective on Global-E Online from $40.00 to $38.00 and set an "overweight" rating for the company in a report on Thursday, August 15th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Global-E Online currently has a consensus rating of "Moderate Buy" and an average target price of $43.09.
View Our Latest Stock Report on Global-E Online
Global-E Online Company Profile
(
Free Report)
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.
Further Reading
Before you consider Global-E Online, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Global-E Online wasn't on the list.
While Global-E Online currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat has just released its list of 20 stocks that Wall Street analysts hate. These companies may appear to have good fundamentals, but top analysts smell something seriously rotten. Are any of these companies lurking around your portfolio? Find out by clicking the link below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
