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

Sumitomo Mitsui Trust Group Inc. trimmed its stake in Global-e Online Ltd. (NASDAQ:GLBE) by 18.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 985,505 shares of the company’s stock after selling 220,572 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.58% of Global-e Online worth $33,054,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Berbice Capital Management LLC acquired a new position in Global-e Online during the first quarter valued at approximately $36,000. Assetmark Inc. acquired a new position in Global-e Online during the first quarter valued at approximately $45,000. Geneos Wealth Management Inc. lifted its position in Global-e Online by 67.2% during the first quarter. Geneos Wealth Management Inc. now owns 1,314 shares of the company’s stock valued at $47,000 after buying an additional 528 shares in the last quarter. Pacer Advisors Inc. lifted its position in Global-e Online by 52.9% during the first quarter. Pacer Advisors Inc. now owns 1,410 shares of the company’s stock valued at $50,000 after buying an additional 488 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new position in Global-e Online during the first quarter valued at approximately $68,000. 94.60% of the stock is currently owned by hedge funds and other institutional investors.

Global-e Online Stock Performance

Global-e Online stock opened at $36.10 on Wednesday. The company has a 50-day simple moving average of $34.92 and a 200-day simple moving average of $34.02. The firm has a market capitalization of $6.13 billion, a P/E ratio of -212.35, a P/E/G ratio of 1.86 and a beta of 1.25. Global-e Online Ltd. has a one year low of $26.64 and a one year high of $63.69.

Global-e Online (NASDAQ:GLBE) last announced its earnings results on Wednesday, August 13th. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.04. Global-e Online had a negative net margin of 3.37% and a negative return on equity of 3.20%. The firm had revenue of $214.88 million during the quarter, compared to analyst estimates of $207.95 million. During the same quarter in the prior year, the firm posted ($0.13) EPS. Global-e Online’s revenue was up 27.9% compared to the same quarter last year. Global-e Online has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, sell-side analysts forecast that Global-e Online Ltd. will post 0.25 earnings per share for the current year.

Global-e Online announced that its board has approved a share repurchase plan on Thursday, September 4th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the company to purchase up to 3.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

GLBE has been the topic of a number of recent research reports. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Global-e Online in a research report on Wednesday, October 8th. Truist Financial boosted their target price on shares of Global-e Online from $31.00 to $32.00 and gave the stock a “sell” rating in a research report on Thursday, July 17th. The Goldman Sachs Group boosted their target price on shares of Global-e Online from $39.00 to $44.00 and gave the stock a “buy” rating in a research report on Monday, October 13th. Finally, Zacks Research raised shares of Global-e Online to a “hold” rating in a research report on Friday, August 8th. Eleven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $48.08.

Global-e Online 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.