LGT Group Foundation Purchases Shares of 7,384 Globant S.A. (NYSE:GLOB)

LGT Group Foundation purchased a new stake in shares of Globant S.A. (NYSE:GLOB) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 7,384 shares of the information technology services provider’s stock, valued at approximately $1,583,000.

Several other large investors have also added to or reduced their stakes in GLOB. Victory Capital Management Inc. lifted its holdings in 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 in the last quarter. JPMorgan Chase & Co. lifted its holdings in Globant by 6.9% during the third quarter. JPMorgan Chase & Co. now owns 2,368,608 shares of the information technology services provider’s stock valued at $469,316,000 after purchasing an additional 153,385 shares in the last quarter. abrdn plc lifted its holdings in Globant by 36.7% during the fourth quarter. abrdn plc now owns 470,150 shares of the information technology services provider’s stock valued at $101,564,000 after purchasing an additional 126,333 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Globant by 315.8% in the fourth quarter. Principal Financial Group Inc. now owns 126,199 shares of the information technology services provider’s stock worth $27,060,000 after buying an additional 95,848 shares in the last quarter. Finally, Wasatch Advisors LP lifted its holdings in shares of Globant by 2.6% in the third quarter. Wasatch Advisors LP now owns 3,480,129 shares of the information technology services provider’s stock worth $689,553,000 after buying an additional 88,829 shares in the last quarter. Hedge funds and other institutional investors own 91.60% of the company’s stock.

Globant Stock Down 4.7 %

GLOB stock opened at $143.47 on Tuesday. Globant S.A. has a twelve month low of $143.06 and a twelve month high of $238.32. The stock has a market capitalization of $6.18 billion, a price-to-earnings ratio of 38.57, a price-to-earnings-growth ratio of 2.38 and a beta of 1.39. The firm’s fifty day simple moving average is $205.65 and its two-hundred day simple moving average is $209.38.

Globant (NYSE:GLOB) last posted its quarterly earnings data on Thursday, February 20th. The information technology services provider reported $1.36 earnings per share for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.39). Globant had a net margin of 6.86% and a return on equity of 11.83%. The firm had revenue of $642.48 million for the quarter, compared to the consensus estimate of $644.42 million. As a group, equities research analysts expect that Globant S.A. will post 5.73 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on GLOB shares. Needham & Company LLC lowered their target price on shares of Globant from $265.00 to $220.00 and set a “buy” rating on the stock in a report on Friday, February 21st. Scotiabank lowered their target price on shares of Globant from $220.00 to $170.00 and set a “sector perform” rating on the stock in a report on Monday, February 24th. Susquehanna started coverage on shares of Globant in a report on Tuesday, December 17th. They issued a “positive” rating and a $255.00 target price on the stock. Canaccord Genuity Group lowered their target price on shares of Globant from $205.00 to $165.00 and set a “hold” rating on the stock in a report on Monday, February 24th. Finally, StockNews.com raised shares of Globant from a “sell” rating to a “hold” rating in a report on Sunday, November 24th. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $221.39.

Globant Company Profile

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.