Park Place Capital Corp Decreases Stock Position in Globant S.A. (NYSE:GLOB)

Park Place Capital Corp lessened its stake in shares of Globant S.A. (NYSE:GLOB) by 12.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 511 shares of the information technology services provider’s stock after selling 74 shares during the period. Park Place Capital Corp’s holdings in Globant were worth $122,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of GLOB. CI Investments Inc. raised its holdings in Globant by 122.0% during the 3rd quarter. CI Investments Inc. now owns 131 shares of the information technology services provider’s stock valued at $26,000 after buying an additional 72 shares during the period. Cornerstone Planning Group LLC purchased a new stake in Globant during the 2nd quarter valued at $50,000. Fortis Capital Advisors LLC bought a new position in Globant in the 1st quarter valued at $55,000. Rockefeller Capital Management L.P. grew its position in Globant by 303.2% in the 4th quarter. Rockefeller Capital Management L.P. now owns 375 shares of the information technology services provider’s stock valued at $62,000 after acquiring an additional 282 shares during the last quarter. Finally, Advisors Asset Management Inc. bought a new position in Globant in the 1st quarter valued at $72,000. Hedge funds and other institutional investors own 91.60% of the company’s stock.

Globant Price Performance

Shares of GLOB stock opened at $197.30 on Friday. Globant S.A. has a 1-year low of $135.40 and a 1-year high of $251.50. The stock’s 50-day moving average is $219.64 and its 200 day moving average is $213.18. The company has a market cap of $8.50 billion, a P/E ratio of 54.35, a PEG ratio of 1.50 and a beta of 1.35.

Globant (NYSE:GLOB) last issued its quarterly earnings data on Thursday, February 15th. The information technology services provider reported $1.26 earnings per share for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.08). Globant had a net margin of 7.56% and a return on equity of 11.38%. The company had revenue of $580.71 million for the quarter, compared to the consensus estimate of $579.70 million. On average, analysts anticipate that Globant S.A. will post 5.04 EPS for the current year.

Analysts Set New Price Targets

GLOB has been the topic of several research analyst reports. Wedbush reaffirmed an “outperform” rating and issued a $250.00 price objective on shares of Globant in a research report on Friday, February 16th. KeyCorp upped their price objective on Globant from $266.00 to $272.00 and gave the company an “overweight” rating in a research report on Friday, February 16th. TheStreet raised Globant from a “c+” rating to a “b-” rating in a research report on Wednesday, December 13th. Guggenheim initiated coverage on Globant in a research report on Tuesday, March 19th. They issued a “buy” rating and a $250.00 price objective on the stock. Finally, UBS Group upped their price objective on Globant from $230.00 to $240.00 and gave the company a “neutral” rating in a research report on Monday, February 26th. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, Globant currently has a consensus rating of “Moderate Buy” and a consensus target price of $246.59.

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.