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

Global-E Online Ltd. (NASDAQ:GLBE) was the recipient of some unusual options trading activity on Monday. Traders bought 8,534 call options on the company. This represents an increase of approximately 609% compared to the typical daily volume of 1,204 call options.

Hedge Funds Weigh In On Global-E Online

Institutional investors have recently bought and sold shares of the company. Toronto Dominion Bank purchased a new position in Global-E Online in the 2nd quarter valued at about $40,000. RiverPark Advisors LLC increased its holdings in shares of Global-E Online by 360.9% during the first quarter. RiverPark Advisors LLC now owns 3,650 shares of the company’s stock valued at $133,000 after purchasing an additional 2,858 shares during the period. DekaBank Deutsche Girozentrale grew its holdings in Global-E Online by 18.4% during the first quarter. DekaBank Deutsche Girozentrale now owns 4,010 shares of the company’s stock worth $146,000 after acquiring an additional 624 shares during the period. Russell Investments Group Ltd. lifted its holdings in shares of Global-E Online by 15.2% during the first quarter. Russell Investments Group Ltd. now owns 5,911 shares of the company’s stock valued at $215,000 after purchasing an additional 780 shares during the last quarter. Finally, Acadian Asset Management LLC purchased a new stake in Global-E Online in the 2nd quarter worth about $220,000. 94.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Piper Sandler dropped their target price on shares of Global-E Online from $47.00 to $44.00 and set an “overweight” rating on the stock in a report on Thursday, August 15th. Needham & Company LLC reaffirmed a “buy” rating and issued a $48.00 price objective on shares of Global-E Online in a report on Thursday, August 15th. The Goldman Sachs Group reiterated a “buy” rating and set a $43.00 price objective on shares of Global-E Online in a research report on Monday, July 1st. Bank of America dropped their target price on Global-E Online from $47.00 to $45.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. Finally, Morgan Stanley upped their price target on shares of Global-E Online from $37.00 to $40.00 and gave the company an “overweight” rating in a research report on Tuesday, July 16th. Eleven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $42.82.

Global-E Online Stock Down 0.5 %

NASDAQ GLBE opened at $38.27 on Wednesday. The firm has a market cap of $6.29 billion, a PE ratio of -51.72 and a beta of 1.10. The business’s fifty day simple moving average is $35.69 and its 200-day simple moving average is $33.98. Global-E Online has a 52 week low of $27.30 and a 52 week high of $42.88.

Global-E Online (NASDAQ:GLBE) last issued its quarterly earnings results on Wednesday, August 14th. The company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.03. The company had revenue of $168.00 million during the quarter, compared to analysts’ expectations of $165.95 million. Global-E Online had a negative net margin of 17.33% and a negative return on equity of 16.41%. The firm’s revenue was up 26.0% compared to the same quarter last year. During the same quarter last year, the company posted ($0.22) EPS. Research analysts expect that Global-E Online will post -0.5 EPS for the current year.

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.