Global-e Online Ltd. $GLBE Holdings Lowered by Amova Asset Management Americas Inc.

Amova Asset Management Americas Inc. cut its stake in Global-e Online Ltd. (NASDAQ:GLBE) by 7.9% in the 3rd quarter, HoldingsChannel reports. The fund owned 902,523 shares of the company’s stock after selling 77,289 shares during the period. Amova Asset Management Americas Inc.’s holdings in Global-e Online were worth $32,265,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Royal Bank of Canada increased its position in shares of Global-e Online by 87.4% during the 1st quarter. Royal Bank of Canada now owns 75,286 shares of the company’s stock valued at $2,684,000 after purchasing an additional 35,120 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Global-e Online by 17.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 54,654 shares of the company’s stock valued at $1,948,000 after buying an additional 8,239 shares during the period. 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 valued at $47,000 after buying an additional 528 shares in the last quarter. Teacher Retirement System of Texas grew its holdings in Global-e Online by 4.1% during the second quarter. Teacher Retirement System of Texas now owns 47,242 shares of the company’s stock worth $1,584,000 after acquiring an additional 1,850 shares during the period. Finally, Huntington National Bank raised its position in Global-e Online by 15.0% in the second quarter. Huntington National Bank now owns 301,920 shares of the company’s stock worth $10,126,000 after acquiring an additional 39,430 shares in the last quarter. Institutional investors own 94.60% of the company’s stock.

Global-e Online Stock Up 3.2%

Shares of NASDAQ:GLBE opened at $35.76 on Thursday. The company’s fifty day moving average is $36.46 and its two-hundred day moving average is $36.34. The company has a market cap of $6.07 billion, a P/E ratio of 96.65 and a beta of 1.24. Global-e Online Ltd. has a 12-month low of $26.64 and a 12-month high of $43.21.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on GLBE. Zacks Research raised shares of Global-e Online from a “hold” rating to a “strong-buy” rating in a research note on Friday, December 19th. Piper Sandler restated an “overweight” rating on shares of Global-e Online in a research report on Thursday, February 19th. Needham & Company LLC upped their price target on Global-e Online from $40.00 to $47.00 and gave the company a “buy” rating in a report on Thursday, December 4th. Wall Street Zen raised Global-e Online from a “hold” rating to a “buy” rating in a research note on Saturday, February 21st. Finally, KeyCorp decreased their target price on Global-e Online from $45.00 to $40.00 and set an “overweight” rating on the stock in a report on Thursday, February 19th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $47.80.

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.