269 Shares in Globant S.A. (NYSE:GLOB) Acquired by RiverPark Advisors LLC

RiverPark Advisors LLC purchased a new stake in Globant S.A. (NYSE:GLOB) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 269 shares of the information technology services provider’s stock, valued at approximately $54,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC lifted its holdings in shares of Globant by 20.3% in the 3rd quarter. Tower Research Capital LLC TRC now owns 1,642 shares of the information technology services provider’s stock valued at $325,000 after purchasing an additional 277 shares during the last quarter. Adage Capital Partners GP L.L.C. acquired a new stake in shares of Globant in the third quarter valued at approximately $8,903,000. The Manufacturers Life Insurance Company purchased a new position in shares of Globant during the third quarter worth approximately $25,348,000. Penserra Capital Management LLC purchased a new position in shares of Globant during the third quarter worth approximately $440,000. Finally, Polar Capital Holdings Plc increased its holdings in shares of Globant by 10.0% in the 3rd quarter. Polar Capital Holdings Plc now owns 152,115 shares of the information technology services provider’s stock valued at $30,096,000 after acquiring an additional 13,825 shares during the period. Institutional investors and hedge funds own 91.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on GLOB shares. Guggenheim began coverage on shares of Globant in a research note on Tuesday, March 19th. They issued a “buy” rating and a $250.00 price objective on the stock. JPMorgan Chase & Co. reduced their price objective on Globant from $273.00 to $257.00 and set an “overweight” rating for the company in a research note on Thursday, May 2nd. Mizuho dropped their target price on Globant from $279.00 to $252.00 and set a “buy” rating on the stock in a report on Wednesday, May 22nd. The Goldman Sachs Group initiated coverage on Globant in a research note on Monday, June 24th. They set a “buy” rating and a $200.00 price target for the company. Finally, StockNews.com upgraded shares of Globant from a “sell” rating to a “hold” rating in a research report on Tuesday, May 21st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $216.44.

Globant Stock Performance

GLOB traded down $2.03 on Wednesday, hitting $175.72. 45,191 shares of the company were exchanged, compared to its average volume of 505,956. Globant S.A. has a fifty-two week low of $151.68 and a fifty-two week high of $251.50. The firm has a market capitalization of $7.57 billion, a P/E ratio of 46.17, a price-to-earnings-growth ratio of 1.85 and a beta of 1.41. The business’s fifty day moving average is $170.04 and its 200 day moving average is $200.34.

Globant (NYSE:GLOB) last released its quarterly earnings results on Thursday, May 16th. The information technology services provider reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.18 by $0.01. Globant had a return on equity of 11.60% and a net margin of 7.62%. The business had revenue of $571.08 million for the quarter, compared to analysts’ expectations of $570.72 million. Analysts forecast that Globant S.A. will post 5 EPS for the current fiscal year.

Globant 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.