Global-e Online Ltd. $GLBE Shares Sold by Amova Asset Management Americas Inc.

Key Points

• Amova Asset Management Americas trimmed its stake in Global‑e by 7.9% (sold 77,289 shares) and now owns 902,523 shares—about 0.53% of the company worth roughly $32.3 million.
• Several other institutions boosted positions—Migdal increased its stake by 50.5% to 775,000 shares and Brown Capital holds 2,389,842 shares—and overall institutional ownership is 94.6%.
• Analysts have a "Moderate Buy" consensus with an average price target of $47.80, while the stock trades around $35.76 (market cap ~$6.07B) and carries a high P/E of about 96.7.

Amova Asset Management Americas Inc. trimmed its holdings in shares of Global-e Online Ltd. (NASDAQ:GLBE - Free Report) by 7.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 902,523 shares of the company's stock after selling 77,289 shares during the period. Amova Asset Management Americas Inc. owned about 0.53% of Global-e Online worth $32,265,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vitruvian Partners LLP boosted its holdings in Global-e Online by 23.1% in the 3rd quarter. Vitruvian Partners LLP now owns 172,442 shares of the company's stock worth $6,167,000 after acquiring an additional 32,405 shares during the period. Penserra Capital Management LLC increased its stake in Global-e Online by 16.1% during the 3rd quarter. Penserra Capital Management LLC now owns 127,667 shares of the company's stock worth $4,564,000 after buying an additional 17,676 shares during the period. Migdal Insurance & Financial Holdings Ltd. boosted its position in Global-e Online by 50.5% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 775,000 shares of the company's stock valued at $27,714,000 after buying an additional 260,000 shares during the last quarter. Nordea Investment Management AB purchased a new stake in shares of Global-e Online during the third quarter worth about $7,838,000. Finally, Brown Capital Management LLC boosted its holdings in Global-e Online by 10.0% in the third quarter. Brown Capital Management LLC now owns 2,389,842 shares of the company's stock valued at $85,461,000 after purchasing an additional 216,304 shares during the last quarter. Institutional investors and hedge funds own 94.60% of the company's stock.

Analyst Ratings Changes

Several analysts recently issued reports on GLBE shares. Truist Financial cut their price target on shares of Global-e Online from $43.00 to $42.00 and set a "hold" rating on the stock in a report on Thursday, February 26th. Bank of America reissued a "buy" rating on shares of Global-e Online in a report on Wednesday, February 18th. Piper Sandler restated an "overweight" rating on shares of Global-e Online in a research note on Thursday, February 19th. Zacks Research upgraded Global-e Online from a "hold" rating to a "strong-buy" rating in a research report on Friday, December 19th. Finally, Wall Street Zen upgraded Global-e Online from a "hold" rating to a "buy" rating in a research note on Saturday, February 21st. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $47.80.

Global-e Online Stock Up 3.2%

Global-e Online stock opened at $35.76 on Thursday. The firm has a 50-day moving average price of $36.46 and a two-hundred day moving average price of $36.34. Global-e Online Ltd. has a 52-week low of $26.64 and a 52-week high of $43.21. The firm has a market capitalization of $6.07 billion, a price-to-earnings ratio of 96.65 and a beta of 1.24.

Global-e Online Company Profile

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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