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

Global-e Online Ltd. (NASDAQ:GLBE) saw unusually large options trading activity on Tuesday. Stock investors purchased 6,177 call options on the stock. This represents an increase of approximately 353% compared to the average daily volume of 1,365 call options.

Institutional Investors Weigh In On Global-e Online

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Dragoneer Investment Group LLC lifted its holdings in shares of Global-e Online by 18.2% in the 3rd quarter. Dragoneer Investment Group LLC now owns 11,887,078 shares of the company’s stock worth $425,082,000 after buying an additional 1,831,063 shares during the period. Goldman Sachs Group Inc. increased its position in Global-e Online by 6.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,769,843 shares of the company’s stock valued at $170,045,000 after purchasing an additional 308,218 shares during the period. Arohi Asset Management PTE Ltd. raised its holdings in shares of Global-e Online by 33.1% in the 3rd quarter. Arohi Asset Management PTE Ltd. now owns 3,757,091 shares of the company’s stock valued at $134,354,000 after purchasing an additional 934,207 shares in the last quarter. Marshall Wace LLP raised its holdings in shares of Global-e Online by 182.0% in the 2nd quarter. Marshall Wace LLP now owns 3,656,115 shares of the company’s stock valued at $122,626,000 after purchasing an additional 2,359,435 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of Global-e Online by 27.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 3,617,284 shares of the company’s stock worth $121,324,000 after purchasing an additional 770,028 shares during the period. Institutional investors own 94.60% of the company’s stock.

Global-e Online Trading Up 2.5%

Shares of NASDAQ:GLBE traded up $0.88 during midday trading on Tuesday, reaching $36.01. 915,702 shares of the company were exchanged, compared to its average volume of 1,757,010. The stock has a market cap of $6.11 billion, a PE ratio of -211.64, a price-to-earnings-growth ratio of 1.89 and a beta of 1.25. The business’s fifty day moving average is $35.62 and its two-hundred day moving average is $34.22. Global-e Online has a one year low of $26.64 and a one year high of $63.69.

Global-e Online announced that its board has authorized a share buyback program on Thursday, September 4th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 3.5% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on GLBE shares. Zacks Research upgraded shares of Global-e Online to a “hold” rating in a research note on Friday, August 8th. Benchmark reissued a “buy” rating on shares of Global-e Online in a report on Monday. The Goldman Sachs Group lifted their target price on Global-e Online from $39.00 to $44.00 and gave the company a “buy” rating in a report on Monday, October 13th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Global-e Online in a research report on Wednesday, October 8th. Ten research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $47.91.

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.