Trust Point Inc. Makes New Investment in Globant S.A. (NYSE:GLOB)

Trust Point Inc. bought a new stake in Globant S.A. (NYSE:GLOBFree Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 7,317 shares of the information technology services provider’s stock, valued at approximately $1,741,000.

A number of other institutional investors also recently modified their holdings of GLOB. Price T Rowe Associates Inc. MD increased its stake in shares of Globant by 10.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,406,155 shares of the information technology services provider’s stock valued at $558,644,000 after buying an additional 319,684 shares during the period. BlackRock Inc. increased its stake in shares of Globant by 3.1% in the second quarter. BlackRock Inc. now owns 2,845,558 shares of the information technology services provider’s stock valued at $511,404,000 after buying an additional 86,266 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Globant by 3.2% in the third quarter. JPMorgan Chase & Co. now owns 1,614,782 shares of the information technology services provider’s stock valued at $319,485,000 after buying an additional 49,812 shares during the period. Sands Capital Management LLC increased its stake in shares of Globant by 8.1% in the second quarter. Sands Capital Management LLC now owns 1,522,069 shares of the information technology services provider’s stock valued at $273,546,000 after buying an additional 114,126 shares during the period. Finally, Invesco Ltd. increased its stake in shares of Globant by 5.5% in the first quarter. Invesco Ltd. now owns 1,232,195 shares of the information technology services provider’s stock valued at $322,920,000 after buying an additional 64,161 shares during the period. Institutional investors own 91.60% of the company’s stock.

Globant Trading Up 0.3 %

Globant stock traded up $0.54 during mid-day trading on Wednesday, hitting $198.26. The company had a trading volume of 86,714 shares, compared to its average volume of 466,976. The stock’s 50 day moving average price is $221.84 and its two-hundred day moving average price is $213.42. Globant S.A. has a 12 month low of $135.40 and a 12 month high of $251.50. The company has a market capitalization of $8.54 billion, a PE ratio of 54.48, a price-to-earnings-growth ratio of 1.53 and a beta of 1.35.

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

Analyst Upgrades and Downgrades

Several brokerages recently commented on GLOB. Wedbush reiterated an “outperform” rating and issued a $250.00 target price on shares of Globant in a report on Friday, February 16th. KeyCorp increased their price target on Globant from $266.00 to $272.00 and gave the stock an “overweight” rating in a report on Friday, February 16th. Needham & Company LLC increased their price target on Globant from $215.00 to $275.00 and gave the stock a “buy” rating in a report on Friday, January 26th. Citigroup increased their price target on Globant from $215.00 to $275.00 and gave the stock a “buy” rating in a report on Wednesday, January 17th. Finally, UBS Group increased their price target on Globant from $230.00 to $240.00 and gave the stock a “neutral” rating in a report on Monday, February 26th. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $246.59.

View Our Latest Stock Analysis on Globant

Globant Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Globant (NYSE:GLOB)

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