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

Capital World Investors decreased its holdings in Global-e Online Ltd. (NASDAQ:GLBE) by 9.3% in the third quarter, Holdings Channel.com reports. The firm owned 6,098,763 shares of the company’s stock after selling 627,728 shares during the period. Capital World Investors’ holdings in Global-e Online were worth $218,092,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Fieldview Capital Management LLC lifted its stake in Global-e Online by 31.7% in the third quarter. Fieldview Capital Management LLC now owns 105,648 shares of the company’s stock worth $3,778,000 after purchasing an additional 25,434 shares during the last quarter. Swiss National Bank increased its holdings in shares of Global-e Online by 2.2% in the third quarter. Swiss National Bank now owns 214,700 shares of the company’s stock worth $7,678,000 after buying an additional 4,600 shares during the period. Russell Investments Group Ltd. lifted its stake in shares of Global-e Online by 9.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 97,531 shares of the company’s stock valued at $3,488,000 after acquiring an additional 8,041 shares during the last quarter. Barclays PLC boosted its holdings in Global-e Online by 689.5% during the 3rd quarter. Barclays PLC now owns 327,693 shares of the company’s stock valued at $11,718,000 after acquiring an additional 286,187 shares during the period. Finally, Orion Porfolio Solutions LLC purchased a new stake in Global-e Online during the 3rd quarter valued at about $230,000. Institutional investors own 94.60% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on GLBE shares. Piper Sandler reiterated an “overweight” rating on shares of Global-e Online in a research report on Thursday, February 19th. Truist Financial lowered their price target on shares of Global-e Online from $43.00 to $42.00 and set a “hold” rating for the company in a report on Thursday, February 26th. Zacks Research raised shares of Global-e Online from a “hold” rating to a “strong-buy” rating in a report on Friday, December 19th. Bank of America restated a “buy” rating on shares of Global-e Online in a research report on Wednesday, February 18th. Finally, Benchmark increased their target price on shares of Global-e Online from $52.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, February 19th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $47.80.

Global-e Online Stock Down 0.1%

NASDAQ GLBE opened at $34.17 on Thursday. The firm has a market capitalization of $5.80 billion, a PE ratio of 92.35 and a beta of 1.24. The stock’s 50 day moving average is $36.01 and its 200 day moving average is $36.44. Global-e Online Ltd. has a twelve month low of $26.64 and a twelve month high of $43.21.

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.