Investors Buy High Volume of Global-E Online Call Options (NASDAQ:GLBE)

Global-E Online Ltd. (NASDAQ:GLBE) saw unusually large options trading activity on Wednesday. Stock traders bought 4,364 call options on the company. This represents an increase of approximately 45% compared to the average volume of 3,001 call options.

Hedge Funds Weigh In On Global-E Online

Institutional investors have recently bought and sold shares of the business. Fred Alger Management LLC bought a new stake in shares of Global-E Online in the 3rd quarter worth about $53,493,000. JPMorgan Chase & Co. grew its position in Global-E Online by 40.7% in the third quarter. JPMorgan Chase & Co. now owns 1,846,479 shares of the company’s stock worth $70,979,000 after acquiring an additional 533,675 shares in the last quarter. TimesSquare Capital Management LLC increased its stake in Global-E Online by 6.3% during the fourth quarter. TimesSquare Capital Management LLC now owns 770,999 shares of the company’s stock worth $42,043,000 after acquiring an additional 45,739 shares during the last quarter. Mount Yale Investment Advisors LLC raised its position in Global-E Online by 143.8% during the fourth quarter. Mount Yale Investment Advisors LLC now owns 20,507 shares of the company’s stock valued at $1,118,000 after purchasing an additional 12,094 shares during the period. Finally, Public Sector Pension Investment Board lifted its stake in shares of Global-E Online by 23.8% in the 3rd quarter. Public Sector Pension Investment Board now owns 51,950 shares of the company’s stock valued at $1,997,000 after purchasing an additional 10,000 shares during the last quarter. Institutional investors own 94.60% of the company’s stock.

Global-E Online Price Performance

Shares of NASDAQ GLBE traded down $9.74 during midday trading on Wednesday, reaching $52.16. 1,589,505 shares of the stock traded hands, compared to its average volume of 1,320,738. The company’s 50 day moving average is $56.99 and its 200 day moving average is $45.51. Global-E Online has a one year low of $28.11 and a one year high of $63.69. The stock has a market capitalization of $8.57 billion, a PE ratio of -90.21, a P/E/G ratio of 6.47 and a beta of 1.23.

Wall Street Analysts Forecast Growth

GLBE has been the subject of a number of analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $48.00 price objective on shares of Global-E Online in a research note on Monday, November 18th. KeyCorp raised their price target on Global-E Online from $55.00 to $65.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Raymond James boosted their price objective on Global-E Online from $41.00 to $55.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. The Goldman Sachs Group increased their target price on Global-E Online from $56.00 to $63.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. Finally, JMP Securities boosted their price target on Global-E Online from $46.00 to $64.00 and gave the stock a “market outperform” rating in a report on Thursday, November 21st. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Global-E Online presently has an average rating of “Moderate Buy” and a consensus price target of $55.33.

Global-E Online Company 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.