Globant S.A. (NYSE:GLOB) Shares Purchased by Investidor Profissional Gestao de Recursos Ltda.

Investidor Profissional Gestao de Recursos Ltda. raised its stake in Globant S.A. (NYSE:GLOB) by 109.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,595 shares of the information technology services provider’s stock after purchasing an additional 20,725 shares during the period. Globant comprises 3.7% of Investidor Profissional Gestao de Recursos Ltda.’s investment portfolio, making the stock its 8th biggest position. Investidor Profissional Gestao de Recursos Ltda. owned approximately 0.09% of Globant worth $7,845,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Globant by 7.9% during the first quarter. Vanguard Group Inc. now owns 112,339 shares of the information technology services provider’s stock worth $22,681,000 after purchasing an additional 8,267 shares in the last quarter. Edgestream Partners L.P. purchased a new stake in Globant during the first quarter worth approximately $577,000. Seven Eight Capital LP acquired a new position in Globant in the first quarter valued at approximately $2,138,000. Clearbridge Investments LLC boosted its holdings in Globant by 24.0% in the first quarter. Clearbridge Investments LLC now owns 264,598 shares of the information technology services provider’s stock valued at $53,422,000 after purchasing an additional 51,245 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Globant in the first quarter valued at approximately $196,000. Hedge funds and other institutional investors own 91.60% of the company’s stock.

Globant Price Performance

GLOB opened at $203.29 on Monday. The business has a 50 day simple moving average of $208.98 and a 200-day simple moving average of $191.09. Globant S.A. has a 12 month low of $151.68 and a 12 month high of $251.50. The stock has a market capitalization of $8.76 billion, a P/E ratio of 53.08, a P/E/G ratio of 2.49 and a beta of 1.39.

Globant (NYSE:GLOB) last posted its quarterly earnings results on Thursday, August 15th. The information technology services provider reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.50 by $0.01. The business had revenue of $587.46 million for the quarter, compared to analysts’ expectations of $586.72 million. Globant had a net margin of 7.20% and a return on equity of 11.87%. The business’s revenue for the quarter was up 18.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.04 EPS. Research analysts anticipate that Globant S.A. will post 5.06 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on GLOB. TD Cowen upped their target price on shares of Globant from $230.00 to $240.00 and gave the company a “buy” rating in a report on Friday. StockNews.com lowered Globant from a “hold” rating to a “sell” rating in a report on Saturday. Needham & Company LLC boosted their target price on Globant from $245.00 to $265.00 and gave the company a “buy” rating in a report on Friday. Canaccord Genuity Group raised their price target on Globant from $175.00 to $205.00 and gave the stock a “hold” rating in a research note on Wednesday, August 21st. Finally, KeyCorp boosted their price objective on Globant from $220.00 to $235.00 and gave the company an “overweight” rating in a research note on Friday, August 16th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $228.50.

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.