TD Asset Management Inc Sells 48,029 Shares of Global-e Online Ltd. $GLBE

TD Asset Management Inc lessened its stake in Global-e Online Ltd. (NASDAQ:GLBE) by 70.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 19,928 shares of the company’s stock after selling 48,029 shares during the quarter. TD Asset Management Inc’s holdings in Global-e Online were worth $713,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GLBE. Royal Bank of Canada grew its stake in Global-e Online by 87.4% during the first quarter. Royal Bank of Canada now owns 75,286 shares of the company’s stock valued at $2,684,000 after acquiring an additional 35,120 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Global-e Online by 17.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 54,654 shares of the company’s stock worth $1,948,000 after purchasing an additional 8,239 shares in the last quarter. Geneos Wealth Management Inc. lifted its stake in Global-e Online by 67.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,314 shares of the company’s stock worth $47,000 after purchasing an additional 528 shares in the last quarter. Yelin Lapidot Holdings Management Ltd. boosted its holdings in shares of Global-e Online by 95.5% during the 2nd quarter. Yelin Lapidot Holdings Management Ltd. now owns 773,183 shares of the company’s stock valued at $25,933,000 after purchasing an additional 377,628 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Global-e Online during the 2nd quarter valued at about $610,000. Institutional investors own 94.60% of the company’s stock.

Global-e Online Stock Down 3.5%

Global-e Online stock opened at $35.39 on Friday. The company’s 50-day moving average price is $36.32 and its 200-day moving average price is $36.36. The company has a market cap of $6.01 billion, a PE ratio of 95.65 and a beta of 1.24. Global-e Online Ltd. has a twelve month low of $26.64 and a twelve month high of $43.21.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Truist Financial reduced their target price on Global-e Online from $43.00 to $42.00 and set a “hold” rating on the stock in a report on Thursday, February 26th. Morgan Stanley reissued an “overweight” rating on shares of Global-e Online in a research note on Thursday, February 19th. Wall Street Zen upgraded Global-e Online from a “hold” rating to a “buy” rating in a report on Saturday, February 21st. Bank of America reaffirmed a “buy” rating on shares of Global-e Online in a report on Wednesday, February 18th. Finally, Needham & Company LLC upped their price objective on Global-e Online from $40.00 to $47.00 and gave the stock a “buy” rating in a report on Thursday, December 4th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.80.

About Global-e Online

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.