Globant S.A. (NYSE:GLOB) Shares Purchased by Russell Investments Group Ltd.

Russell Investments Group Ltd. raised its stake in Globant S.A. (NYSE:GLOB) by 5.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 102,269 shares of the information technology services provider’s stock after purchasing an additional 4,940 shares during the quarter. Russell Investments Group Ltd. owned about 0.24% of Globant worth $24,338,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of GLOB. Jennison Associates LLC lifted its position in shares of Globant by 289.5% during the fourth quarter. Jennison Associates LLC now owns 960,833 shares of the information technology services provider’s stock worth $228,659,000 after purchasing an additional 714,162 shares in the last quarter. Invesco Ltd. lifted its holdings in Globant by 155.2% in the 3rd quarter. Invesco Ltd. now owns 611,061 shares of the information technology services provider’s stock worth $120,898,000 after buying an additional 371,628 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in Globant by 36.7% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 705,090 shares of the information technology services provider’s stock valued at $167,797,000 after buying an additional 189,204 shares during the last quarter. Ameriprise Financial Inc. grew its stake in shares of Globant by 40.7% during the third quarter. Ameriprise Financial Inc. now owns 485,042 shares of the information technology services provider’s stock valued at $95,966,000 after acquiring an additional 140,398 shares in the last quarter. Finally, State of Michigan Retirement System purchased a new stake in shares of Globant during the third quarter worth about $27,343,000. Institutional investors and hedge funds own 91.60% of the company’s stock.

Globant Trading Down 0.4 %

Shares of Globant stock opened at $177.93 on Thursday. The stock has a market capitalization of $7.67 billion, a price-to-earnings ratio of 49.02, a PEG ratio of 1.39 and a beta of 1.35. Globant S.A. has a twelve month low of $135.40 and a twelve month high of $251.50. The business’s 50 day simple moving average is $201.68 and its 200-day simple moving average is $211.83.

Globant (NYSE:GLOB) last issued its earnings results on Thursday, February 15th. The information technology services provider reported $1.26 earnings per share for the quarter, missing the consensus estimate of $1.34 by ($0.08). Globant had a return on equity of 11.38% and a net margin of 7.56%. The company had revenue of $580.71 million during the quarter, compared to analyst estimates of $579.70 million. Sell-side analysts predict that Globant S.A. will post 5.03 earnings per share for the current year.

Analyst Ratings Changes

GLOB has been the subject of a number of analyst reports. Piper Sandler increased their price target on Globant from $257.00 to $290.00 and gave the company an “overweight” rating in a report on Friday, February 16th. Wedbush reissued an “outperform” rating and set a $250.00 price target on shares of Globant in a research report on Friday, February 16th. KeyCorp increased their price objective on shares of Globant from $266.00 to $272.00 and gave the company an “overweight” rating in a research note on Friday, February 16th. UBS Group boosted their target price on shares of Globant from $230.00 to $240.00 and gave the stock a “neutral” rating in a research report on Monday, February 26th. Finally, Scotiabank reduced their price target on shares of Globant from $260.00 to $230.00 and set a “sector outperform” rating on the stock in a research report on Monday. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, Globant presently has an average rating of “Moderate Buy” and a consensus target price of $245.41.

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.