Globant S.A. (NYSE:GLOB) Shares Purchased by Bank of America Corp DE

Bank of America Corp DE boosted its holdings in Globant S.A. (NYSE:GLOB - Free Report) by 7.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 440,039 shares of the information technology services provider's stock after buying an additional 30,785 shares during the quarter. Bank of America Corp DE owned approximately 1.02% of Globant worth $94,353,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of GLOB. JPMorgan Chase & Co. grew its holdings in shares of Globant by 8.6% during the fourth quarter. JPMorgan Chase & Co. now owns 2,572,080 shares of the information technology services provider's stock worth $551,506,000 after buying an additional 203,472 shares during the last quarter. Capital International Investors lifted its position in Globant by 13.1% in the fourth quarter. Capital International Investors now owns 1,700,519 shares of the information technology services provider's stock valued at $364,723,000 after purchasing an additional 197,064 shares during the period. Victory Capital Management Inc. lifted its position in Globant by 6.4% in the fourth quarter. Victory Capital Management Inc. now owns 1,606,110 shares of the information technology services provider's stock valued at $344,382,000 after purchasing an additional 96,257 shares during the period. Jennison Associates LLC lifted its position in 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 during the period. Finally, Sei Investments Co. lifted its position in Globant by 3.5% in the fourth quarter. Sei Investments Co. now owns 602,802 shares of the information technology services provider's stock valued at $129,252,000 after purchasing an additional 20,365 shares during the period. 91.60% of the stock is currently owned by institutional investors and hedge funds.

Globant Stock Down 0.5%

Shares of NYSE GLOB traded down $0.66 during trading on Thursday, hitting $133.01. 1,672,355 shares of the company traded hands, compared to its average volume of 627,174. Globant S.A. has a 1 year low of $95.25 and a 1 year high of $238.32. The company has a 50-day moving average price of $119.35 and a 200-day moving average price of $178.84. The firm has a market capitalization of $5.86 billion, a P/E ratio of 35.76, a P/E/G ratio of 2.38 and a beta of 1.37.

Globant (NYSE:GLOB - Get Free Report) last announced its quarterly earnings data on Thursday, May 15th. The information technology services provider reported $1.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.59 by ($0.44). Globant had a net margin of 6.86% and a return on equity of 11.83%. Research analysts predict that Globant S.A. will post 5.73 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on GLOB shares. Jefferies Financial Group raised their price objective on shares of Globant from $240.00 to $255.00 and gave the company a "buy" rating in a research report on Tuesday, January 21st. UBS Group reduced their price objective on shares of Globant from $217.00 to $190.00 and set a "neutral" rating for the company in a research report on Wednesday, February 26th. Canaccord Genuity Group reduced their price objective on shares of Globant from $205.00 to $165.00 and set a "hold" rating for the company in a research report on Monday, February 24th. Scotiabank reduced their price objective on shares of Globant from $170.00 to $140.00 and set a "sector perform" rating for the company in a research report on Tuesday, April 29th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Globant from $248.00 to $242.00 and set an "overweight" rating for the company in a research report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, Globant currently has an average rating of "Moderate Buy" and a consensus target price of $204.00.

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.