Crestline Management LP Invests $5.26 Million in Globant S.A. (NYSE:GLOB)

Crestline Management LP purchased a new stake in shares of Globant S.A. (NYSE:GLOB - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 24,527 shares of the information technology services provider's stock, valued at approximately $5,259,000. Crestline Management LP owned about 0.06% of Globant at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. JPMorgan Chase & Co. increased its stake in shares of Globant by 8.6% in the 4th quarter. JPMorgan Chase & Co. now owns 2,572,080 shares of the information technology services provider's stock valued at $551,506,000 after buying an additional 203,472 shares during the period. Capital International Investors boosted its holdings 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 acquiring an additional 197,064 shares during the last quarter. Victory Capital Management Inc. increased 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 worth $344,382,000 after purchasing an additional 96,257 shares during the period. Jennison Associates LLC lifted its position in Globant by 0.6% during the 4th 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 stake in shares of Globant by 3.5% in the 4th 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. Institutional investors and hedge funds own 91.60% of the company's stock.

Globant Price Performance

Shares of NYSE:GLOB opened at $119.60 on Wednesday. The business's 50 day simple moving average is $120.81 and its 200 day simple moving average is $182.18. Globant S.A. has a 1 year low of $96.23 and a 1 year high of $238.32. The company has a market capitalization of $5.27 billion, a P/E ratio of 32.15, a P/E/G ratio of 2.38 and a beta of 1.37.

Globant (NYSE:GLOB - Get Free Report) last released its earnings results on Thursday, February 20th. The information technology services provider reported $1.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.75 by ($0.39). The company had revenue of $642.48 million for the quarter, compared to analyst estimates of $644.42 million. Globant had a return on equity of 11.83% and a net margin of 6.86%. On average, sell-side analysts anticipate that Globant S.A. will post 5.73 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on GLOB shares. Piper Sandler cut their target price on Globant from $230.00 to $154.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. JPMorgan Chase & Co. cut their price target on shares of Globant from $248.00 to $242.00 and set an "overweight" rating on the stock in a research report on Friday, February 21st. Susquehanna decreased their price objective on Globant from $225.00 to $160.00 and set a "positive" rating for the company in a report on Wednesday, April 23rd. Redburn Atlantic upgraded shares of Globant from a "sell" rating to a "neutral" rating and boosted their target price for the stock from $140.00 to $150.00 in a report on Tuesday, February 25th. Finally, UBS Group dropped their price objective on Globant from $217.00 to $190.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 26th. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Globant presently has a consensus rating of "Moderate Buy" and a consensus target price of $204.00.

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.

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