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

Global-E Online Ltd. (NASDAQ:GLBE) saw some unusual options trading activity on Wednesday. Investors bought 4,364 call options on the stock. This is an increase of 45% compared to the average volume of 3,001 call options.

Global-E Online Trading Down 15.7 %

GLBE stock traded down $9.74 during trading on Wednesday, reaching $52.16. The stock had a trading volume of 1,589,505 shares, compared to its average volume of 1,320,738. The stock’s 50 day moving average is $56.99 and its two-hundred day moving average is $45.51. The firm has a market cap of $8.57 billion, a PE ratio of -90.21, a PEG ratio of 6.47 and a beta of 1.23. Global-E Online has a 52 week low of $28.11 and a 52 week high of $63.69.

Hedge Funds Weigh In On Global-E Online

Several institutional investors have recently made changes to their positions in GLBE. Fifth Third Bancorp increased its holdings in Global-E Online by 69.1% during the fourth quarter. Fifth Third Bancorp now owns 482 shares of the company’s stock valued at $26,000 after buying an additional 197 shares during the last quarter. Daiwa Securities Group Inc. increased its stake in shares of Global-E Online by 2.6% in the 4th quarter. Daiwa Securities Group Inc. now owns 8,000 shares of the company’s stock worth $436,000 after purchasing an additional 200 shares in the last quarter. Voya Investment Management LLC raised its holdings in Global-E Online by 1.3% in the 4th quarter. Voya Investment Management LLC now owns 17,060 shares of the company’s stock worth $930,000 after purchasing an additional 227 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in Global-E Online by 1.6% during the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 16,660 shares of the company’s stock valued at $908,000 after purchasing an additional 260 shares in the last quarter. Finally, CIBC Asset Management Inc grew its holdings in Global-E Online by 4.4% during the third quarter. CIBC Asset Management Inc now owns 9,420 shares of the company’s stock valued at $362,000 after purchasing an additional 393 shares during the period. Institutional investors own 94.60% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. KeyCorp lifted their target price on shares of Global-E Online from $55.00 to $65.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Jefferies Financial Group boosted their price objective on shares of Global-E Online from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Monday, November 18th. The Goldman Sachs Group increased their target price on Global-E Online from $56.00 to $63.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Piper Sandler boosted their price target on Global-E Online from $63.00 to $66.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Finally, Morgan Stanley increased their price objective on Global-E Online from $52.00 to $55.00 and gave the company an “equal weight” rating in a research report on Tuesday. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price 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.