Investors Buy High Volume of Put Options on Global-e Online (NASDAQ:GLBE)

Global-e Online Ltd. (NASDAQ:GLBE) was the target of unusually large options trading activity on Friday. Stock traders bought 9,166 put options on the stock. This represents an increase of 505% compared to the typical daily volume of 1,515 put options.

Analyst Ratings Changes

GLBE has been the topic of several research reports. Benchmark increased their price target on shares of Global-e Online from $52.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday, February 19th. Bank of America reaffirmed a “buy” rating on shares of Global-e Online in a research note on Wednesday, February 18th. Zacks Research upgraded Global-e Online from a “hold” rating to a “strong-buy” rating in a report on Friday, December 19th. KeyCorp dropped their price target on Global-e Online from $45.00 to $40.00 and set an “overweight” rating for the company in a research report on Thursday, February 19th. Finally, Wall Street Zen cut Global-e Online from a “buy” rating to a “hold” rating in a report on Saturday, March 21st. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $47.80.

Global-e Online Stock Performance

Global-e Online stock traded down $1.97 during trading on Friday, reaching $28.93. The company had a trading volume of 1,568,401 shares, compared to its average volume of 1,039,042. Global-e Online has a 12-month low of $26.64 and a 12-month high of $43.21. The stock’s 50 day moving average price is $34.44 and its two-hundred day moving average price is $36.34. The firm has a market capitalization of $4.91 billion, a price-to-earnings ratio of 78.19 and a beta of 1.24.

Insider Buying and Selling

In related news, COO Shahar Tamari sold 16,666 shares of the stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $33.81, for a total value of $563,477.46. Following the sale, the chief operating officer directly owned 3,419,745 shares of the company’s stock, valued at approximately $115,621,578.45. This represents a 0.48% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Amir Schlachet sold 16,666 shares of the firm’s stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $34.45, for a total transaction of $574,143.70. Following the transaction, the chief executive officer owned 3,562,787 shares of the company’s stock, valued at $122,738,012.15. This trade represents a 0.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 41,664 shares of company stock worth $1,425,158 in the last three months. Corporate insiders own 11.60% of the company’s stock.

Institutional Trading of Global-e Online

A number of institutional investors and hedge funds have recently made changes to their positions in GLBE. Vitruvian Partners LLP raised its holdings in shares of Global-e Online by 23.1% in the 3rd quarter. Vitruvian Partners LLP now owns 172,442 shares of the company’s stock worth $6,167,000 after purchasing an additional 32,405 shares during the period. Penserra Capital Management LLC lifted its stake in shares of Global-e Online by 16.1% in the 3rd quarter. Penserra Capital Management LLC now owns 127,667 shares of the company’s stock valued at $4,564,000 after purchasing an additional 17,676 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its holdings in shares of Global-e Online by 50.5% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 775,000 shares of the company’s stock worth $27,714,000 after purchasing an additional 260,000 shares during the period. Nordea Investment Management AB acquired a new stake in Global-e Online during the 3rd quarter worth approximately $7,838,000. Finally, Brown Capital Management LLC increased its position in Global-e Online by 10.0% during the 3rd quarter. Brown Capital Management LLC now owns 2,389,842 shares of the company’s stock worth $85,461,000 after purchasing an additional 216,304 shares in the last quarter. 94.60% of the stock is currently owned by institutional investors and hedge funds.

Global-e Online Company Profile

Global-e Online Ltd. (NASDAQ: GLBE) is a leading cross-border e-commerce platform that enables online merchants to expand sales internationally. The company’s cloud-based solution integrates with major e-commerce systems to offer localized checkout experiences, dynamic currency conversion, import duties and taxes calculation, fraud prevention, and compliance with local trade regulations. By managing the end-to-end complexities of global transactions, Global-e helps retailers streamline their international operations and deliver a seamless shopping experience to customers worldwide.

Central to Global-e’s offering is a comprehensive suite of services that includes customizable checkout in the buyer’s local language, real-time display of prices in over 140 currencies, support for region-specific payment methods, and transparent calculation of duties and taxes at point of sale.