Traders Buy Large 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 Tuesday. Investors bought 20,287 call options on the company. This is an increase of 702% compared to the average volume of 2,530 call options.

Global-E Online Price Performance

NASDAQ:GLBE opened at $60.50 on Thursday. The company’s 50 day moving average is $54.56 and its 200-day moving average is $42.86. Global-E Online has a 12 month low of $28.11 and a 12 month high of $61.24.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Fifth Third Bancorp lifted its position in shares of Global-E Online by 69.1% during the 4th quarter. Fifth Third Bancorp now owns 482 shares of the company’s stock worth $26,000 after purchasing an additional 197 shares during the last quarter. Capital Performance Advisors LLP bought a new stake in shares of Global-E Online in the third quarter valued at approximately $32,000. Toronto Dominion Bank bought a new position in Global-E Online during the second quarter worth $40,000. Geneos Wealth Management Inc. raised its stake in Global-E Online by 1,968.4% during the 4th quarter. Geneos Wealth Management Inc. now owns 786 shares of the company’s stock valued at $43,000 after purchasing an additional 748 shares during the last quarter. Finally, Venturi Wealth Management LLC bought a new stake in Global-E Online in the 3rd quarter valued at $87,000. 94.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on GLBE. Piper Sandler lifted their target price on shares of Global-E Online from $63.00 to $66.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. UBS Group reduced their price objective on Global-E Online from $50.00 to $48.00 and set a “buy” rating for the company in a research report on Friday, October 18th. KeyCorp upped their target price on Global-E Online from $38.00 to $55.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. Morgan Stanley cut Global-E Online from an “overweight” rating to an “equal weight” rating and set a $40.00 price target for the company. in a research note on Friday, October 18th. Finally, Jefferies Financial Group raised their price objective on shares of Global-E Online from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Monday, November 18th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.25.

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.