TD Asset Management Inc Reduces Stock Holdings in Global-e Online Ltd. $GLBE

TD Asset Management Inc lowered its stake in shares of Global-e Online Ltd. (NASDAQ:GLBE) by 70.7% during the 3rd quarter, HoldingsChannel.com reports. The firm 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 quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Virtus Advisers LLC bought a new stake in Global-e Online in the second quarter worth $47,000. Geneos Wealth Management Inc. boosted its stake 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 worth $47,000 after buying an additional 528 shares during the period. Tower Research Capital LLC TRC increased its position in Global-e Online by 780.7% during the second quarter. Tower Research Capital LLC TRC now owns 1,823 shares of the company’s stock valued at $61,000 after acquiring an additional 1,616 shares during the last quarter. Jones Financial Companies Lllp increased its position in Global-e Online by 237.7% during the third quarter. Jones Financial Companies Lllp now owns 1,955 shares of the company’s stock valued at $72,000 after acquiring an additional 1,376 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in shares of Global-e Online by 28.2% in the third quarter. PNC Financial Services Group Inc. now owns 2,954 shares of the company’s stock valued at $106,000 after acquiring an additional 649 shares during the period. Hedge funds and other institutional investors own 94.60% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on GLBE shares. Weiss Ratings restated a “sell (d-)” rating on shares of Global-e Online in a report on Monday, December 29th. Bank of America reissued a “buy” rating on shares of Global-e Online in a research report on Wednesday, February 18th. Benchmark raised their price objective on shares of Global-e Online from $52.00 to $60.00 and gave the stock a “buy” rating 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 research report on Saturday, February 21st. Finally, KeyCorp cut their target price on Global-e Online from $45.00 to $40.00 and set an “overweight” rating on the stock in a research note on Thursday, February 19th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $47.80.

Global-e Online Trading Down 3.5%

NASDAQ:GLBE opened at $35.39 on Friday. Global-e Online Ltd. has a twelve month low of $26.64 and a twelve month high of $43.21. The company has a market cap of $6.01 billion, a price-to-earnings ratio of 95.65 and a beta of 1.24. The stock has a fifty day simple moving average of $36.32 and a 200-day simple moving average of $36.36.

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.