Sumitomo Mitsui Trust Group Inc. Trims Position in Global-e Online Ltd. $GLBE

Key Points

• Sumitomo Mitsui Trust Group cut its position in Global‑e Online (NASDAQ:GLBE) by 10.6% in Q4, selling 95,703 shares and leaving it with 806,820 shares worth about $31.7 million (≈0.48% ownership).
• Company insiders have been selling recently: President Nir Debbi sold 8,332 shares and CEO Amir Schlachet sold 16,666 shares, with insiders disposing of 83,328 shares (~$2.76M) over the past three months while still owning 11.6% of the stock.
• Institutional ownership is high at 94.6%, and analysts show a generally positive stance — consensus is a Moderate Buy with an average price target of $47.58; GLBE trades at a $5.72B market cap and a P/E of 91.11.

Sumitomo Mitsui Trust Group Inc. cut its position in Global-e Online Ltd. (NASDAQ:GLBE - Free Report) by 10.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 806,820 shares of the company's stock after selling 95,703 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.48% of Global-e Online worth $31,716,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Barton Investment Management grew its stake in Global-e Online by 0.6% during the fourth quarter. Barton Investment Management now owns 1,079,254 shares of the company's stock valued at $42,425,000 after acquiring an additional 6,912 shares in the last quarter. Hennion & Walsh Asset Management Inc. purchased a new position in Global-e Online during the fourth quarter valued at $202,000. SG Americas Securities LLC grew its stake in Global-e Online by 98.2% during the fourth quarter. SG Americas Securities LLC now owns 1,283,308 shares of the company's stock valued at $50,447,000 after acquiring an additional 635,945 shares in the last quarter. IFP Advisors Inc grew its stake in Global-e Online by 73.3% during the third quarter. IFP Advisors Inc now owns 1,059 shares of the company's stock valued at $38,000 after acquiring an additional 448 shares in the last quarter. Finally, Polar Asset Management Partners Inc. grew its stake in Global-e Online by 1.4% during the third quarter. Polar Asset Management Partners Inc. now owns 94,523 shares of the company's stock valued at $3,380,000 after acquiring an additional 1,323 shares in the last quarter. 94.60% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Global-e Online news, President Nir Debbi sold 8,332 shares of Global-e Online stock in a transaction on Monday, March 16th. The shares were sold at an average price of $34.51, for a total value of $287,537.32. Following the completion of the transaction, the president directly owned 3,897,506 shares of the company's stock, valued at $134,502,932.06. This trade represents a 0.21% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Amir Schlachet sold 16,666 shares of Global-e Online stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $34.45, for a total transaction of $574,143.70. Following the completion of the transaction, the chief executive officer directly owned 3,562,787 shares of the company's stock, valued at $122,738,012.15. The trade was a 0.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 83,328 shares of company stock valued at $2,755,760 in the last three months. Corporate insiders own 11.60% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Morgan Stanley reaffirmed an "overweight" rating on shares of Global-e Online in a research note on Thursday, February 19th. KeyCorp cut their target price on shares of Global-e Online from $45.00 to $40.00 and set an "overweight" rating for the company in a research note on Thursday, February 19th. Wall Street Zen raised shares of Global-e Online from a "hold" rating to a "buy" rating in a research note on Sunday, March 29th. Truist Financial cut their target price on shares of Global-e Online from $43.00 to $42.00 and set a "hold" rating for the company in a research note on Thursday, February 26th. 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 investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $47.58.

Global-e Online Stock Up 1.2%

Shares of NASDAQ:GLBE opened at $33.71 on Friday. Global-e Online Ltd. has a 52 week low of $27.80 and a 52 week high of $43.21. The stock has a market capitalization of $5.72 billion, a P/E ratio of 91.11 and a beta of 1.28. The firm has a fifty day simple moving average of $32.99 and a two-hundred day simple moving average of $35.81.

Global-e Online 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.

Want to see what other hedge funds are holding GLBE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Global-e Online Ltd. (NASDAQ:GLBE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.