Diversified Trust Co Makes New Investment in Globant S.A. (NYSE:GLOB)

Diversified Trust Co bought a new stake in shares of Globant S.A. (NYSE:GLOB) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 2,542 shares of the information technology services provider’s stock, valued at approximately $545,000.

A number of other hedge funds have also made changes to their positions in the stock. Creative Planning boosted its stake in Globant by 20.5% during the 3rd quarter. Creative Planning now owns 2,062 shares of the information technology services provider’s stock valued at $409,000 after acquiring an additional 351 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Globant in the third quarter worth about $11,145,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Globant by 18.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 53,816 shares of the information technology services provider’s stock valued at $10,663,000 after buying an additional 8,427 shares during the last quarter. Brown Brothers Harriman & Co. lifted its holdings in Globant by 97.4% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 154,538 shares of the information technology services provider’s stock worth $27,548,000 after buying an additional 76,256 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of Globant by 121.3% in the 3rd quarter. Principal Financial Group Inc. now owns 30,351 shares of the information technology services provider’s stock worth $6,014,000 after acquiring an additional 16,639 shares in the last quarter. Institutional investors and hedge funds own 91.60% of the company’s stock.

Globant Trading Down 2.5 %

GLOB stock opened at $208.09 on Friday. The firm’s 50-day moving average is $221.17 and its two-hundred day moving average is $205.45. The company has a market capitalization of $8.97 billion, a price-to-earnings ratio of 54.33, a price-to-earnings-growth ratio of 2.67 and a beta of 1.38. Globant S.A. has a 52 week low of $151.68 and a 52 week high of $251.50.

Analyst Ratings Changes

GLOB has been the topic of several research analyst reports. StockNews.com upgraded Globant from a “sell” rating to a “hold” rating in a research note on Sunday, November 24th. Piper Sandler decreased their price target on shares of Globant from $240.00 to $237.00 and set an “overweight” rating for the company in a report on Friday, November 15th. Canaccord Genuity Group reiterated a “hold” rating and set a $205.00 price objective on shares of Globant in a research note on Monday, November 18th. Scotiabank lifted their target price on Globant from $210.00 to $220.00 and gave the company a “sector perform” rating in a research note on Tuesday, November 19th. Finally, JPMorgan Chase & Co. increased their price target on Globant from $237.00 to $248.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $230.44.

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.