Global-E Online Ltd. (NASDAQ:GLBE) Shares Bought by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in Global-E Online Ltd. (NASDAQ:GLBE) by 32.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,649 shares of the company’s stock after buying an additional 1,888 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Global-E Online were worth $277,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of GLBE. Van ECK Associates Corp lifted its holdings in Global-E Online by 15.0% in the fourth quarter. Van ECK Associates Corp now owns 28,810 shares of the company’s stock valued at $1,142,000 after acquiring an additional 3,752 shares during the period. TimesSquare Capital Management LLC boosted its holdings in Global-E Online by 12.3% during the fourth quarter. TimesSquare Capital Management LLC now owns 739,580 shares of the company’s stock worth $29,310,000 after buying an additional 80,880 shares in the last quarter. Nikko Asset Management Americas Inc. grew its position in Global-E Online by 10.8% during the fourth quarter. Nikko Asset Management Americas Inc. now owns 2,224,278 shares of the company’s stock worth $88,037,000 after buying an additional 217,415 shares during the period. Panagora Asset Management Inc. purchased a new position in Global-E Online in the fourth quarter valued at about $2,365,000. Finally, Zevenbergen Capital Investments LLC lifted its position in shares of Global-E Online by 3.8% during the 4th quarter. Zevenbergen Capital Investments LLC now owns 1,733,160 shares of the company’s stock valued at $68,685,000 after acquiring an additional 63,614 shares during the period. 94.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GLBE has been the topic of a number of research reports. Benchmark restated a “buy” rating and issued a $41.00 price target on shares of Global-E Online in a report on Tuesday, May 21st. Piper Sandler dropped their price target on Global-E Online from $47.00 to $44.00 and set an “overweight” rating for the company in a research report on Thursday, August 15th. JMP Securities reaffirmed a “market outperform” rating and set a $46.00 price target on shares of Global-E Online in a research note on Wednesday, July 10th. The Goldman Sachs Group reissued a “buy” rating and issued a $43.00 price objective on shares of Global-E Online in a research note on Monday, July 1st. Finally, KeyCorp cut their target price on shares of Global-E Online from $40.00 to $38.00 and set an “overweight” rating for the company in a research report on Thursday, August 15th. Eleven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $42.82.

Global-E Online Price Performance

Global-E Online stock opened at $34.42 on Monday. The firm’s 50-day moving average is $34.59 and its two-hundred day moving average is $33.70. The stock has a market capitalization of $5.65 billion, a P/E ratio of -46.51 and a beta of 1.10. Global-E Online Ltd. has a 12-month low of $27.30 and a 12-month high of $42.88.

Global-E Online (NASDAQ:GLBE) last released its earnings results on Wednesday, August 14th. The company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.03. Global-E Online had a negative net margin of 17.33% and a negative return on equity of 16.41%. The firm had revenue of $168.00 million during the quarter, compared to analysts’ expectations of $165.95 million. During the same period in the previous year, the company earned ($0.22) EPS. Global-E Online’s revenue for the quarter was up 26.0% on a year-over-year basis. As a group, analysts forecast that Global-E Online Ltd. will post -0.5 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.