Kestra Investment Management LLC Acquires Shares of 179 Globant S.A. (NYSE:GLOB)

Kestra Investment Management LLC acquired a new stake in Globant S.A. (NYSE:GLOB) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 179 shares of the information technology services provider’s stock, valued at approximately $38,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GLOB. Creative Planning lifted its stake in Globant by 20.5% in the third quarter. Creative Planning now owns 2,062 shares of the information technology services provider’s stock valued at $409,000 after buying an additional 351 shares during the last quarter. Raymond James & Associates raised its stake in shares of Globant by 27.4% during the third quarter. Raymond James & Associates now owns 79,234 shares of the information technology services provider’s stock worth $15,699,000 after purchasing an additional 17,035 shares during the last quarter. Signaturefd LLC raised its stake in shares of Globant by 46.0% during the third quarter. Signaturefd LLC now owns 292 shares of the information technology services provider’s stock worth $58,000 after purchasing an additional 92 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Globant during the third quarter worth approximately $36,510,000. Finally, Parcion Private Wealth LLC purchased a new stake in shares of Globant during the third quarter worth approximately $214,000. Hedge funds and other institutional investors own 91.60% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Piper Sandler cut their price target on Globant from $237.00 to $230.00 and set an “overweight” rating for the company in a research note on Friday. Canaccord Genuity Group restated a “hold” rating and set a $205.00 price target on shares of Globant in a research note on Monday, November 18th. Scotiabank upped their price target on Globant from $210.00 to $220.00 and gave the stock a “sector perform” rating in a research note on Tuesday, November 19th. TD Cowen upped their price objective on Globant from $230.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Finally, Susquehanna initiated coverage on Globant in a report on Tuesday, December 17th. They set a “positive” rating and a $255.00 price objective on the stock. One research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $227.06.

Globant Stock Performance

Globant stock opened at $152.02 on Friday. The firm has a market capitalization of $6.55 billion, a price-to-earnings ratio of 40.86, a price-to-earnings-growth ratio of 2.38 and a beta of 1.39. Globant S.A. has a fifty-two week low of $151.38 and a fifty-two week high of $238.32. The stock’s fifty day moving average is $214.07 and its two-hundred day moving average is $210.61.

Globant (NYSE:GLOB) last posted its earnings results on Thursday, February 20th. The information technology services provider reported $1.36 earnings per share for the quarter, missing the consensus estimate of $1.75 by ($0.39). The firm had revenue of $642.48 million during the quarter, compared to analyst estimates of $644.42 million. Globant had a net margin of 6.86% and a return on equity of 11.83%. As a group, sell-side analysts forecast that Globant S.A. will post 5.73 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.