Sumitomo Mitsui Trust Group Inc. Sells 83,728 Shares of Global-e Online Ltd. (NASDAQ:GLBE)

Sumitomo Mitsui Trust Group Inc. lessened its holdings in Global-e Online Ltd. (NASDAQ:GLBE - Free Report) by 6.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,206,077 shares of the company's stock after selling 83,728 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.71% of Global-e Online worth $42,997,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Daiwa Securities Group Inc. raised its position in Global-e Online by 2.6% in the 4th quarter. Daiwa Securities Group Inc. now owns 8,000 shares of the company's stock worth $436,000 after purchasing an additional 200 shares during the period. Voya Investment Management LLC raised its position in Global-e Online by 1.3% in the 4th quarter. Voya Investment Management LLC now owns 17,060 shares of the company's stock worth $930,000 after purchasing an additional 227 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in Global-e Online by 1.6% in the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 16,660 shares of the company's stock worth $908,000 after purchasing an additional 260 shares during the period. Mackenzie Financial Corp raised its position in Global-e Online by 7.1% in the 4th quarter. Mackenzie Financial Corp now owns 6,740 shares of the company's stock worth $368,000 after purchasing an additional 448 shares during the period. Finally, Yousif Capital Management LLC raised its position in Global-e Online by 10.7% in the 1st quarter. Yousif Capital Management LLC now owns 6,054 shares of the company's stock worth $216,000 after purchasing an additional 584 shares during the period. Hedge funds and other institutional investors own 94.60% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently commented on GLBE. The Goldman Sachs Group decreased their target price on shares of Global-e Online from $59.00 to $47.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. JMP Securities restated a "market outperform" rating and issued a $64.00 price objective on shares of Global-e Online in a research report on Thursday, May 15th. Needham & Company LLC restated a "buy" rating and issued a $40.00 price objective on shares of Global-e Online in a research report on Thursday, May 15th. Wells Fargo & Company decreased their price objective on shares of Global-e Online from $45.00 to $40.00 and set an "overweight" rating on the stock in a research report on Thursday, May 15th. Finally, KeyCorp decreased their price objective on shares of Global-e Online from $60.00 to $45.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. One analyst has rated the stock with a sell rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Global-e Online presently has an average rating of "Moderate Buy" and a consensus price target of $48.00.

Global-e Online Stock Up 1.7%

Shares of GLBE traded up $0.55 during trading hours on Friday, reaching $33.35. 1,141,088 shares of the company traded hands, compared to its average volume of 1,538,599. The company's fifty day moving average price is $33.75 and its two-hundred day moving average price is $42.02. The company has a market capitalization of $5.66 billion, a price-to-earnings ratio of -92.63, a price-to-earnings-growth ratio of 1.98 and a beta of 1.25. Global-e Online Ltd. has a 12 month low of $26.64 and a 12 month high of $63.69.

Global-e Online (NASDAQ:GLBE - Get Free Report) last announced its earnings results on Wednesday, May 14th. The company reported ($0.11) earnings per share for the quarter, beating analysts' consensus estimates of ($0.13) by $0.02. The firm had revenue of $189.88 million for the quarter, compared to analyst estimates of $187.84 million. Global-e Online had a negative net margin of 7.70% and a negative return on equity of 6.96%. The company's revenue for the quarter was up 30.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.19) EPS. On average, analysts expect that Global-e Online Ltd. will post 0.25 EPS for the current year.

Global-e Online Company 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.