Global-e Online Sees Unusually Large Options Volume (NASDAQ:GLBE)

Key Points

• Investors bought 9,166 put options on GLBE on Friday, roughly a 505% increase over average put volume, indicating unusually heavy bearish options activity.
• GLBE shares fell $1.92 to $28.98 and traded below both the 50‑day ($34.61) and 200‑day ($36.39) moving averages; the stock has a market cap of $4.92 billion and a P/E of 78.55.
• Insiders (including the president and COO) sold a total of 41,664 shares (~$1.43M) in recent months, while institutional investors own about 94.6% of the stock; analysts’ consensus is a Moderate Buy with an average price target of $47.80.

Global-e Online Ltd. (NASDAQ:GLBE - Get Free Report) was the recipient of unusually large options trading on Friday. Investors acquired 9,166 put options on the company. This represents an increase of approximately 505% compared to the average volume of 1,515 put options.

Global-e Online Stock Performance

NASDAQ:GLBE traded down $1.92 during trading hours on Friday, reaching $28.98. The company's stock had a trading volume of 417,664 shares, compared to its average volume of 1,572,413. The firm has a 50-day simple moving average of $34.61 and a 200-day simple moving average of $36.39. Global-e Online has a 1 year low of $26.64 and a 1 year high of $43.21. The firm has a market capitalization of $4.92 billion, a price-to-earnings ratio of 78.55 and a beta of 1.24.

Insider Activity

In related news, President Nir Debbi sold 8,332 shares of the company's stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $34.51, for a total value of $287,537.32. Following the transaction, the president owned 3,897,506 shares in the company, valued at approximately $134,502,932.06. This represents a 0.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Shahar Tamari sold 16,666 shares of the firm's stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $33.81, for a total value of $563,477.46. Following the completion of the sale, the chief operating officer directly owned 3,419,745 shares of the company's stock, valued at $115,621,578.45. This represents a 0.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 41,664 shares of company stock valued at $1,425,158 over the last three months. Corporate insiders own 11.60% of the company's stock.

Hedge Funds Weigh In On Global-e Online

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vitruvian Partners LLP raised its holdings in Global-e Online by 23.1% in the third 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 in the last quarter. Penserra Capital Management LLC lifted its position in Global-e Online by 16.1% during the third quarter. Penserra Capital Management LLC now owns 127,667 shares of the company's stock valued at $4,564,000 after buying an additional 17,676 shares during the period. Migdal Insurance & Financial Holdings Ltd. boosted 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 valued at $27,714,000 after buying an additional 260,000 shares in the last quarter. Nordea Investment Management AB purchased a new stake in shares of Global-e Online in the 3rd quarter worth about $7,838,000. Finally, Brown Capital Management LLC grew its position in shares of Global-e Online by 10.0% in the 3rd quarter. Brown Capital Management LLC now owns 2,389,842 shares of the company's stock worth $85,461,000 after buying an additional 216,304 shares during the period. 94.60% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

GLBE has been the subject of a number of recent analyst reports. Wall Street Zen downgraded shares of Global-e Online from a "buy" rating to a "hold" rating in a report on Saturday, March 21st. Morgan Stanley restated an "overweight" rating on shares of Global-e Online in a research report on Thursday, February 19th. Zacks Research upgraded Global-e Online from a "hold" rating to a "strong-buy" rating in a research note on Friday, December 19th. Truist Financial dropped their price target on Global-e Online from $43.00 to $42.00 and set a "hold" rating for the company in a research report on Thursday, February 26th. Finally, Piper Sandler reissued an "overweight" rating on shares of Global-e Online in a report on Thursday, February 19th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $47.80.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.