Investors Purchase Large Volume of Global-E Online Call Options (NASDAQ:GLBE)

Global-E Online Ltd. (NASDAQ:GLBE) was the target of unusually large options trading activity on Monday. Stock investors bought 8,534 call options on the company. This is an increase of 609% compared to the typical volume of 1,204 call options.

Global-E Online Stock Performance

NASDAQ:GLBE opened at $38.48 on Tuesday. The firm has a 50-day simple moving average of $35.56 and a 200-day simple moving average of $33.97. Global-E Online has a one year low of $27.30 and a one year high of $42.88. The firm has a market cap of $6.32 billion, a P/E ratio of -52.00 and a beta of 1.10.

Global-E Online (NASDAQ:GLBE) last announced its earnings results on Wednesday, August 14th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.03. The business had revenue of $168.00 million for the quarter, compared to analysts’ expectations of $165.95 million. Global-E Online had a negative return on equity of 16.41% and a negative net margin of 17.33%. The business’s revenue for the quarter was up 26.0% on a year-over-year basis. During the same quarter last year, the firm earned ($0.22) EPS. On average, research analysts predict that Global-E Online will post -0.5 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Bank of America reduced their price objective on Global-E Online from $47.00 to $45.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. JMP Securities restated a “market outperform” rating and set a $46.00 target price on shares of Global-E Online in a research report on Wednesday, July 10th. Morgan Stanley increased their price target on Global-E Online from $37.00 to $40.00 and gave the stock an “overweight” rating in a report on Tuesday, July 16th. Needham & Company LLC restated a “buy” rating and set a $48.00 price objective on shares of Global-E Online in a report on Thursday, August 15th. Finally, KeyCorp lowered their target price on shares of Global-E Online from $40.00 to $38.00 and set an “overweight” rating for the company in a research note on Thursday, August 15th. Eleven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Global-E Online presently has an average rating of “Buy” and a consensus target price of $42.82.

Institutional Trading of Global-E Online

A number of institutional investors have recently modified their holdings of the company. Dragoneer Investment Group LLC lifted its position in Global-E Online by 9.6% during the second quarter. Dragoneer Investment Group LLC now owns 14,734,024 shares of the company’s stock valued at $534,403,000 after acquiring an additional 1,288,829 shares during the last quarter. Abdiel Capital Advisors LP lifted its holdings in shares of Global-E Online by 1.4% during the 2nd quarter. Abdiel Capital Advisors LP now owns 6,776,495 shares of the company’s stock valued at $245,783,000 after purchasing an additional 95,741 shares during the last quarter. Capital World Investors boosted its position in shares of Global-E Online by 60.5% in the 1st quarter. Capital World Investors now owns 4,983,485 shares of the company’s stock worth $181,150,000 after purchasing an additional 1,877,953 shares in the last quarter. Clearbridge Investments LLC purchased a new position in Global-E Online during the 2nd quarter worth $83,036,000. Finally, Allspring Global Investments Holdings LLC increased its position in Global-E Online by 16.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,956,990 shares of the company’s stock valued at $71,137,000 after buying an additional 270,949 shares in the last quarter. 94.60% of the stock is currently owned by institutional investors.

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.