Traders Buy Large Volume of Global-e Online Put Options (NASDAQ:GLBE)

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

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on GLBE. Piper Sandler reissued an “overweight” rating on shares of Global-e Online in a research report on Thursday, February 19th. Truist Financial dropped their price target on shares of Global-e Online from $43.00 to $42.00 and set a “hold” rating on the stock in a research report on Thursday, February 26th. KeyCorp reduced their price objective on shares of Global-e Online from $45.00 to $40.00 and set an “overweight” rating on the stock in a research note on Thursday, February 19th. Bank of America reiterated a “buy” rating on shares of Global-e Online in a research report on Wednesday, February 18th. Finally, Benchmark boosted their target price on shares of Global-e Online from $52.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, February 19th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Global-e Online has a consensus rating of “Moderate Buy” and an average target price of $47.80.

Global-e Online Price Performance

Shares of Global-e Online stock opened at $28.93 on Friday. The firm has a market cap of $4.91 billion, a price-to-earnings ratio of 78.19 and a beta of 1.24. The stock’s 50-day moving average is $34.44 and its 200 day moving average is $36.33. Global-e Online has a one year low of $26.64 and a one year high of $43.21.

Insiders Place Their Bets

In other Global-e Online news, CEO Amir Schlachet sold 16,666 shares of Global-e Online stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $34.45, for a total transaction of $574,143.70. Following the transaction, the chief executive officer directly owned 3,562,787 shares of the company’s stock, valued at approximately $122,738,012.15. The trade was a 0.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Nir Debbi sold 8,332 shares of the company’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $34.51, for a total value of $287,537.32. Following the completion of the sale, the president owned 3,897,506 shares in the company, valued at $134,502,932.06. This trade represents a 0.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 41,664 shares of company stock valued at $1,425,158. 11.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. North Peak Capital Management LLC bought a new stake in Global-e Online in the 2nd quarter valued at about $88,481,000. Wasatch Advisors LP boosted its position in Global-e Online by 231.8% during the second quarter. Wasatch Advisors LP now owns 3,424,182 shares of the company’s stock worth $114,847,000 after purchasing an additional 2,392,124 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Global-e Online by 68.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,872,341 shares of the company’s stock worth $230,842,000 after purchasing an additional 2,387,242 shares in the last quarter. Marshall Wace LLP increased its stake in shares of Global-e Online by 182.0% in the second quarter. Marshall Wace LLP now owns 3,656,115 shares of the company’s stock worth $122,626,000 after purchasing an additional 2,359,435 shares in the last quarter. Finally, Janus Henderson Group PLC raised its position in shares of Global-e Online by 1,539.4% in the fourth quarter. Janus Henderson Group PLC now owns 2,269,482 shares of the company’s stock valued at $89,213,000 after purchasing an additional 2,131,047 shares during the period. Hedge funds and other institutional investors own 94.60% of the company’s stock.

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.