Globant S.A. (NYSE:GLOB) Shares Bought by abrdn plc

abrdn plc lifted its position in shares of Globant S.A. (NYSE:GLOB) by 36.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 470,150 shares of the information technology services provider’s stock after acquiring an additional 126,333 shares during the quarter. abrdn plc owned 1.09% of Globant worth $101,564,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in GLOB. Wasatch Advisors LP lifted its holdings in shares of Globant by 2.6% in the third quarter. Wasatch Advisors LP now owns 3,480,129 shares of the information technology services provider’s stock valued at $689,553,000 after purchasing an additional 88,829 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Globant by 6.9% in the third quarter. JPMorgan Chase & Co. now owns 2,368,608 shares of the information technology services provider’s stock valued at $469,316,000 after purchasing an additional 153,385 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Globant by 1,817.5% in the third quarter. Victory Capital Management Inc. now owns 1,509,853 shares of the information technology services provider’s stock valued at $299,162,000 after purchasing an additional 1,431,112 shares in the last quarter. Jennison Associates LLC lifted its holdings in shares of Globant by 0.6% in the fourth quarter. Jennison Associates LLC now owns 802,547 shares of the information technology services provider’s stock valued at $172,082,000 after purchasing an additional 4,970 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Globant by 18.9% in the third quarter. The Manufacturers Life Insurance Company now owns 316,506 shares of the information technology services provider’s stock valued at $62,712,000 after purchasing an additional 50,322 shares in the last quarter. 91.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. StockNews.com raised shares of Globant from a “sell” rating to a “hold” rating in a research note on Sunday, November 24th. Scotiabank lifted their price objective on shares of Globant from $210.00 to $220.00 and gave the company a “sector perform” rating in a research note on Tuesday, November 19th. UBS Group dropped their price objective on shares of Globant from $222.00 to $217.00 and set a “neutral” rating on the stock in a research note on Monday. Jefferies Financial Group lifted their price target on shares of Globant from $240.00 to $255.00 and gave the stock a “buy” rating in a research note on Tuesday, January 21st. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Globant from $237.00 to $248.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $230.28.

Globant Stock Performance

Shares of GLOB opened at $211.90 on Tuesday. The company has a market cap of $9.13 billion, a price-to-earnings ratio of 55.33, a price-to-earnings-growth ratio of 2.33 and a beta of 1.39. The firm has a fifty day moving average of $217.57 and a 200-day moving average of $208.64. Globant S.A. has a 1 year low of $151.68 and a 1 year high of $248.94.

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.