Sumitomo Mitsui Trust Holdings Inc. lifted its stake in Global-E Online Ltd. (NASDAQ:GLBE – Free Report) by 9.9% in the fourth quarter, HoldingsChannel reports. The firm owned 2,403,473 shares of the company’s stock after acquiring an additional 217,482 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Global-E Online were worth $95,250,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. RiverPark Advisors LLC purchased a new position in Global-E Online in the third quarter valued at $26,000. Tower Research Capital LLC TRC purchased a new position in Global-E Online in the second quarter valued at $32,000. Quarry LP boosted its holdings in Global-E Online by 169.9% in the first quarter. Quarry LP now owns 915 shares of the company’s stock valued at $29,000 after purchasing an additional 576 shares during the period. IFP Advisors Inc purchased a new position in Global-E Online in the second quarter valued at $42,000. Finally, Money Concepts Capital Corp purchased a new position in Global-E Online in the fourth quarter valued at $40,000. 94.60% of the stock is currently owned by hedge funds and other institutional investors.
Global-E Online Price Performance
Shares of NASDAQ:GLBE opened at $33.95 on Wednesday. The business’s 50 day simple moving average is $35.95 and its 200-day simple moving average is $36.46. The firm has a market capitalization of $5.58 billion, a price-to-earnings ratio of -41.91 and a beta of 1.10. Global-E Online Ltd. has a 12 month low of $26.01 and a 12 month high of $45.72.
Analyst Ratings Changes
A number of equities analysts recently issued reports on the company. Needham & Company LLC reissued a “buy” rating and set a $48.00 price target on shares of Global-E Online in a report on Friday, April 5th. Wells Fargo & Company reissued an “overweight” rating and set a $40.00 price target on shares of Global-E Online in a report on Monday, April 1st. Piper Sandler reaffirmed an “overweight” rating and issued a $50.00 price objective on shares of Global-E Online in a report on Thursday, February 22nd. Finally, The Goldman Sachs Group lifted their price objective on Global-E Online from $36.00 to $46.00 and gave the company a “buy” rating in a report on Thursday, January 11th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $43.00.
View Our Latest Stock Report on GLBE
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.
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