Future Fund LLC Increases Stock Holdings in Globant S.A. (NYSE:GLOB)

Future Fund LLC increased its holdings in shares of Globant S.A. (NYSE:GLOB) by 15.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,868 shares of the information technology services provider’s stock after buying an additional 668 shares during the period. Globant comprises approximately 3.0% of Future Fund LLC’s investment portfolio, making the stock its 19th largest holding. Future Fund LLC’s holdings in Globant were worth $1,023,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Quarry LP raised its stake in Globant by 529.6% in the 2nd quarter. Quarry LP now owns 170 shares of the information technology services provider’s stock valued at $30,000 after purchasing an additional 143 shares during the last quarter. Ridgewood Investments LLC acquired a new position in Globant in the 2nd quarter valued at $31,000. BOKF NA raised its stake in Globant by 15,800.0% in the 1st quarter. BOKF NA now owns 159 shares of the information technology services provider’s stock valued at $32,000 after purchasing an additional 158 shares during the last quarter. ORG Partners LLC raised its stake in Globant by 65.5% in the 3rd quarter. ORG Partners LLC now owns 192 shares of the information technology services provider’s stock valued at $38,000 after purchasing an additional 76 shares during the last quarter. Finally, American National Bank & Trust increased its stake in shares of Globant by 430.2% in the 3rd quarter. American National Bank & Trust now owns 228 shares of the information technology services provider’s stock worth $45,000 after acquiring an additional 185 shares during the last quarter. Hedge funds and other institutional investors own 91.60% of the company’s stock.

Globant Price Performance

Shares of Globant stock opened at $235.11 on Wednesday. The business has a 50-day moving average of $206.69 and a 200 day moving average of $189.90. 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 $10.13 billion, a price-to-earnings ratio of 61.39, a price-to-earnings-growth ratio of 2.87 and a beta of 1.39.

Globant (NYSE:GLOB) last announced its quarterly earnings data on Thursday, August 15th. The information technology services provider reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.01. The business had revenue of $587.46 million during the quarter, compared to analysts’ expectations of $586.72 million. Globant had a return on equity of 11.68% and a net margin of 7.39%. The business’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.04 EPS. Equities research analysts anticipate that Globant S.A. will post 5.06 earnings per share for the current year.

Wall Street Analyst Weigh In

GLOB has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft initiated coverage on Globant in a research note on Thursday, August 22nd. They issued a “hold” rating and a $210.00 target price for the company. Citigroup raised their target price on Globant from $240.00 to $251.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. JPMorgan Chase & Co. raised their target price on Globant from $237.00 to $248.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. TD Cowen raised their target price on Globant from $220.00 to $230.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. Finally, StockNews.com raised Globant from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $227.00.

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.