SG Americas Securities LLC Acquires 3,614 Shares of Globant S.A. (NYSE:GLOB)

SG Americas Securities LLC increased its stake in shares of Globant S.A. (NYSE:GLOB) by 85.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,847 shares of the information technology services provider’s stock after buying an additional 3,614 shares during the quarter. SG Americas Securities LLC’s holdings in Globant were worth $1,867,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in GLOB. New York Life Investment Management LLC boosted its holdings in shares of Globant by 112.6% in the 3rd quarter. New York Life Investment Management LLC now owns 4,411 shares of the information technology services provider’s stock valued at $873,000 after purchasing an additional 2,336 shares in the last quarter. Deutsche Bank AG boosted its holdings in shares of Globant by 1.2% in the 3rd quarter. Deutsche Bank AG now owns 138,062 shares of the information technology services provider’s stock valued at $27,316,000 after purchasing an additional 1,584 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Globant by 10.8% in the 2nd quarter. Northern Trust Corp now owns 161,189 shares of the information technology services provider’s stock valued at $28,969,000 after purchasing an additional 15,732 shares in the last quarter. Martin Currie Ltd. boosted its holdings in shares of Globant by 30.7% during the 3rd quarter. Martin Currie Ltd. now owns 362,894 shares of the information technology services provider’s stock valued at $71,799,000 after acquiring an additional 85,310 shares in the last quarter. Finally, Park Avenue Securities LLC acquired a new stake in shares of Globant during the 3rd quarter valued at $1,398,000. Institutional investors and hedge funds own 91.60% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. JPMorgan Chase & Co. raised their price objective on Globant from $266.00 to $275.00 and gave the company an “overweight” rating in a report on Wednesday, February 14th. Itau BBA Securities downgraded Globant from an “outperform” rating to a “market perform” rating in a report on Tuesday, December 5th. Canaccord Genuity Group reissued a “hold” rating and set a $230.00 price objective on shares of Globant in a report on Tuesday, February 20th. Citigroup raised their price objective on Globant from $215.00 to $275.00 and gave the company a “buy” rating in a report on Wednesday, January 17th. Finally, Needham & Company LLC raised their price objective on Globant from $215.00 to $275.00 and gave the company a “buy” rating in a report on Friday, January 26th. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, Globant presently has a consensus rating of “Moderate Buy” and a consensus target price of $244.82.

Globant Trading Up 2.9 %

GLOB stock opened at $204.74 on Thursday. The stock has a 50-day moving average price of $224.48 and a 200-day moving average price of $213.27. Globant S.A. has a 1-year low of $135.40 and a 1-year high of $251.50. The firm has a market cap of $8.82 billion, a PE ratio of 56.40, a price-to-earnings-growth ratio of 1.50 and a beta of 1.36.

Globant (NYSE:GLOB) last issued its earnings results on Thursday, February 15th. The information technology services provider reported $1.26 EPS for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.08). The firm had revenue of $580.71 million during 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%. On average, analysts forecast that Globant S.A. will post 5.04 earnings per share for the current year.

About Globant

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.