Deutsche Bank AG Acquires 67,153 Shares of Globant S.A. (NYSE:GLOB)

Deutsche Bank AG increased its position in Globant S.A. (NYSE:GLOB - Free Report) by 20.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 393,945 shares of the information technology services provider's stock after purchasing an additional 67,153 shares during the period. Deutsche Bank AG owned about 0.91% of Globant worth $84,470,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GLOB. GQG Partners LLC acquired a new position in Globant in the 4th quarter worth approximately $84,906,000. Canada Pension Plan Investment Board purchased a new stake in Globant in the 4th quarter worth approximately $60,913,000. JPMorgan Chase & Co. lifted its position in 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 worth $551,506,000 after buying an additional 203,472 shares in the last quarter. Capital International Investors raised its holdings in shares of Globant by 13.1% during the 4th 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 in the last quarter. Finally, abrdn plc raised its holdings in shares of Globant by 36.7% during the 4th quarter. abrdn plc now owns 470,150 shares of the information technology services provider's stock valued at $101,564,000 after purchasing an additional 126,333 shares in the last quarter. Institutional investors and hedge funds own 91.60% of the company's stock.

Globant Stock Down 0.5%

Shares of NYSE GLOB traded down $0.66 during mid-day trading on Thursday, reaching $133.01. 1,672,355 shares of the company were exchanged, compared to its average volume of 627,224. The company's 50-day simple moving average is $119.35 and its 200-day simple moving average is $178.84. The stock 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 S.A. has a twelve month low of $95.25 and a twelve month high of $238.32.

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

Analyst Ratings Changes

Several analysts have issued reports on the stock. JPMorgan Chase & Co. decreased 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. Jefferies Financial Group raised their price target on shares of Globant from $240.00 to $255.00 and gave the stock a "buy" rating in a research report on Tuesday, January 21st. UBS Group decreased their target price on shares of Globant from $217.00 to $190.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 26th. Redburn Atlantic upgraded shares of Globant from a "sell" rating to a "neutral" rating and boosted their price target for the company from $140.00 to $150.00 in a research report on Tuesday, February 25th. Finally, Scotiabank reduced their price target on shares of Globant from $170.00 to $140.00 and set a "sector perform" rating on the stock in a research report on Tuesday, April 29th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target 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.