Global-E Online Sees Unusually High Options Volume (NASDAQ:GLBE)

Global-E Online Ltd. (NASDAQ:GLBE) was the target of some unusual options trading activity on Wednesday. Stock investors purchased 3,143 call options on the stock. This represents an increase of 103% compared to the typical volume of 1,551 call options.

Global-E Online Stock Performance

GLBE stock opened at $47.86 on Thursday. The firm has a market cap of $7.86 billion, a price-to-earnings ratio of -73.63 and a beta of 1.10. The firm has a 50-day simple moving average of $38.65 and a two-hundred day simple moving average of $35.02. Global-E Online has a one year low of $28.11 and a one year high of $52.26.

Institutional Investors Weigh In On Global-E Online

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Tidal Investments LLC purchased a new position in shares of Global-E Online during the first quarter worth approximately $2,521,000. Capital International Investors lifted its position in shares of Global-E Online by 51.2% during the first quarter. Capital International Investors now owns 1,003,229 shares of the company’s stock worth $36,467,000 after purchasing an additional 339,591 shares in the last quarter. Dragoneer Investment Group LLC grew its stake in Global-E Online by 9.6% in the second quarter. Dragoneer Investment Group LLC now owns 14,734,024 shares of the company’s stock worth $534,403,000 after purchasing an additional 1,288,829 shares in the last quarter. WINTON GROUP Ltd acquired a new stake in Global-E Online during the second quarter worth about $623,000. Finally, Clearbridge Investments LLC acquired a new position in Global-E Online during the 2nd quarter valued at about $83,036,000. Institutional investors and hedge funds own 94.60% of the company’s stock.

Analysts Set New Price Targets

GLBE has been the topic of a number of recent analyst reports. Morgan Stanley cut shares of Global-E Online from an “overweight” rating to an “equal weight” rating and set a $40.00 price objective on the stock. in a research note on Friday, October 18th. Benchmark raised their target price on shares of Global-E Online from $41.00 to $45.00 and gave the company a “buy” rating in a research report on Monday. Piper Sandler restated a “buy” rating on shares of Global-E Online in a research report on Friday, October 18th. Jefferies Financial Group lifted their price target on shares of Global-E Online from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Monday. Finally, KeyCorp cut their price target on shares of Global-E Online from $40.00 to $38.00 and set an “overweight” rating on the stock in a report on Thursday, August 15th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Global-E Online has an average rating of “Moderate Buy” and an average target price of $44.27.

About Global-E Online

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.