Stock Traders Purchase Large Volume of Call Options on Global-E Online (NASDAQ:GLBE)

Global-E Online Ltd. (NASDAQ:GLBE) was the target of some unusual options trading activity on Tuesday. Investors purchased 20,287 call options on the company. This is an increase of 702% compared to the average daily volume of 2,530 call options.

Global-E Online Trading Up 3.7 %

NASDAQ:GLBE opened at $60.20 on Wednesday. Global-E Online has a twelve month low of $28.11 and a twelve month high of $60.91. The company has a market cap of $9.89 billion, a price-to-earnings ratio of -103.79, a price-to-earnings-growth ratio of 5.85 and a beta of 1.22. The stock has a fifty day simple moving average of $54.31 and a 200-day simple moving average of $42.74.

Institutional Trading of Global-E Online

Institutional investors and hedge funds have recently made changes to their positions in the business. Fred Alger Management LLC bought a new stake in shares of Global-E Online in the third quarter valued at about $53,493,000. JPMorgan Chase & Co. raised its holdings in shares of Global-E Online by 40.7% in the third quarter. JPMorgan Chase & Co. now owns 1,846,479 shares of the company’s stock valued at $70,979,000 after acquiring an additional 533,675 shares in the last quarter. Public Sector Pension Investment Board raised its holdings in shares of Global-E Online by 23.8% in the third quarter. Public Sector Pension Investment Board now owns 51,950 shares of the company’s stock valued at $1,997,000 after acquiring an additional 10,000 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Global-E Online by 3.4% in the third quarter. Geode Capital Management LLC now owns 933,476 shares of the company’s stock valued at $35,722,000 after acquiring an additional 30,995 shares in the last quarter. Finally, Barclays PLC raised its holdings in shares of Global-E Online by 83.2% in the third quarter. Barclays PLC now owns 29,636 shares of the company’s stock valued at $1,139,000 after acquiring an additional 13,463 shares in the last quarter. 94.60% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Morgan Stanley lowered shares of Global-E Online from an “overweight” rating to an “equal weight” rating and set a $40.00 price objective for the company. in a report on Friday, October 18th. KeyCorp raised their target price on shares of Global-E Online from $38.00 to $55.00 and gave the company an “overweight” rating in a report on Tuesday, November 26th. The Goldman Sachs Group raised their target price on shares of Global-E Online from $56.00 to $63.00 and gave the company a “buy” rating in a report on Friday, January 10th. JMP Securities raised their target price on shares of Global-E Online from $46.00 to $64.00 and gave the company a “market outperform” rating in a report on Thursday, November 21st. Finally, 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 report on Monday, November 18th. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $53.25.

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.