Globant S.A. (NYSE:GLOB) Shares Bought by Franklin Resources Inc.

Franklin Resources Inc. lifted its holdings in shares of Globant S.A. (NYSE:GLOB) by 0.6% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 12,800 shares of the information technology services provider’s stock after acquiring an additional 71 shares during the period. Franklin Resources Inc.’s holdings in Globant were worth $2,704,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in GLOB. Wasatch Advisors LP boosted its position in Globant by 2.6% during the 3rd quarter. Wasatch Advisors LP now owns 3,480,129 shares of the information technology services provider’s stock worth $689,553,000 after acquiring an additional 88,829 shares during the period. Victory Capital Management Inc. increased its holdings in shares of Globant by 1,817.5% during the third quarter. Victory Capital Management Inc. now owns 1,509,853 shares of the information technology services provider’s stock valued at $299,162,000 after purchasing an additional 1,431,112 shares during the period. Sei Investments Co. raised its stake in shares of Globant by 43.4% during the second quarter. Sei Investments Co. now owns 512,916 shares of the information technology services provider’s stock valued at $91,432,000 after purchasing an additional 155,112 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Globant by 57.5% in the second quarter. Dimensional Fund Advisors LP now owns 442,312 shares of the information technology services provider’s stock worth $78,851,000 after purchasing an additional 161,512 shares during the period. Finally, Clearbridge Investments LLC grew its position in Globant by 28.4% in the 2nd quarter. Clearbridge Investments LLC now owns 339,790 shares of the information technology services provider’s stock valued at $60,571,000 after buying an additional 75,192 shares in the last quarter. 91.60% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have commented on GLOB shares. Citigroup boosted their price target on shares of Globant from $240.00 to $251.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. JPMorgan Chase & Co. boosted their target price on Globant from $237.00 to $248.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Scotiabank increased their price target on Globant from $210.00 to $220.00 and gave the company a “sector perform” rating in a research note on Tuesday, November 19th. Piper Sandler dropped their price objective on Globant from $240.00 to $237.00 and set an “overweight” rating on the stock in a research note on Friday, November 15th. Finally, Canaccord Genuity Group reaffirmed a “hold” rating and set a $205.00 target price on shares of Globant in a research note on Monday, November 18th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $230.44.

Globant Stock Performance

NYSE GLOB opened at $219.46 on Thursday. The firm’s 50 day moving average price is $221.60 and its two-hundred day moving average price is $201.06. Globant S.A. has a twelve month low of $151.68 and a twelve month high of $251.50. The stock has a market cap of $9.46 billion, a price-to-earnings ratio of 57.30, a PEG ratio of 2.72 and a beta of 1.37.

About Globant

Globant SA, together with its subsidiaries, provides technology services worldwide. It provides digital solutions comprising blockchain, cloud technologies, cybersecurity, data and artificial intelligence, digital experience and performance, code, Internet of Things, metaverse, and engineering and testing; and enterprise technology solutions and services, such as Agile organization, Cultural Hacking, process optimization services, as well as AWS, Google Cloud, Microsoft, Oracle, SalesForce, SAP, and ServiceNow technology solutions.