Capital World Investors Sells 627,728 Shares of Global-e Online Ltd. $GLBE

Key Points

• Capital World Investors sold 627,728 shares of Global-e Online, trimming its stake by 9.3% to 6,098,763 shares (about 3.59% of the company) valued at roughly $218.1 million.
• Ownership is highly concentrated, with 94.60% of the stock held by hedge funds and other institutional investors, and several other institutions recently adjusting positions.
• GLBE trades around $34.17 with a market cap of $5.8 billion and a P/E of 92.35; analysts give a consensus rating of "Moderate Buy" and an average target price of $47.80 (some targets range up to $60).

Capital World Investors decreased its holdings in Global-e Online Ltd. (NASDAQ:GLBE - Free Report) by 9.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,098,763 shares of the company's stock after selling 627,728 shares during the period. Capital World Investors owned 3.59% of Global-e Online worth $218,092,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the business. Virtus Advisers LLC purchased a new position in Global-e Online in the 2nd quarter valued at approximately $47,000. Geneos Wealth Management Inc. lifted its position in shares of Global-e Online by 67.2% during the first quarter. Geneos Wealth Management Inc. now owns 1,314 shares of the company's stock worth $47,000 after acquiring an additional 528 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of Global-e Online by 780.7% in the second quarter. Tower Research Capital LLC TRC now owns 1,823 shares of the company's stock worth $61,000 after acquiring an additional 1,616 shares during the period. Jones Financial Companies Lllp boosted its holdings in shares of Global-e Online by 237.7% in the third quarter. Jones Financial Companies Lllp now owns 1,955 shares of the company's stock worth $72,000 after acquiring an additional 1,376 shares during the period. Finally, PNC Financial Services Group Inc. grew its position in shares of Global-e Online by 28.2% in the third quarter. PNC Financial Services Group Inc. now owns 2,954 shares of the company's stock valued at $106,000 after purchasing an additional 649 shares in the last quarter. 94.60% of the stock is currently owned by hedge funds and other institutional investors.

Global-e Online Stock Down 0.1%

Shares of GLBE stock opened at $34.17 on Thursday. The business has a 50-day moving average price of $36.01 and a two-hundred day moving average price of $36.44. Global-e Online Ltd. has a 12-month low of $26.64 and a 12-month high of $43.21. The firm has a market cap of $5.80 billion, a P/E ratio of 92.35 and a beta of 1.24.

Wall Street Analyst Weigh In

GLBE has been the topic of a number of analyst reports. Benchmark boosted their price objective on Global-e Online from $52.00 to $60.00 and gave the company a "buy" rating in a research note on Thursday, February 19th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Global-e Online in a report on Monday, December 29th. Truist Financial decreased their price target on Global-e Online from $43.00 to $42.00 and set a "hold" rating on the stock in a research report on Thursday, February 26th. Needham & Company LLC increased their price target on shares of Global-e Online from $40.00 to $47.00 and gave the stock a "buy" rating in a report on Thursday, December 4th. Finally, Zacks Research raised shares of Global-e Online from a "hold" rating to a "strong-buy" rating in a research note on Friday, December 19th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $47.80.

About Global-e Online

Global-e Online Ltd. NASDAQ: GLBE is a leading cross-border e-commerce platform that enables online merchants to expand sales internationally. The company's cloud-based solution integrates with major e-commerce systems to offer localized checkout experiences, dynamic currency conversion, import duties and taxes calculation, fraud prevention, and compliance with local trade regulations. By managing the end-to-end complexities of global transactions, Global-e helps retailers streamline their international operations and deliver a seamless shopping experience to customers worldwide.

Central to Global-e's offering is a comprehensive suite of services that includes customizable checkout in the buyer's local language, real-time display of prices in over 140 currencies, support for region-specific payment methods, and transparent calculation of duties and taxes at point of sale.

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