19,276 Shares in Globant S.A. (NYSE:GLOB) Acquired by International Assets Investment Management LLC

International Assets Investment Management LLC purchased a new stake in shares of Globant S.A. (NYSE:GLOB - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 19,276 shares of the information technology services provider's stock, valued at approximately $4,587,000.

Several other institutional investors and hedge funds have also bought and sold shares of GLOB. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Globant by 11.1% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 23,405 shares of the information technology services provider's stock valued at $5,570,000 after purchasing an additional 2,331 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its holdings in Globant by 146.4% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 45,190 shares of the information technology services provider's stock worth $10,734,000 after buying an additional 26,850 shares during the period. Trust Point Inc. bought a new stake in Globant during the 4th quarter valued at approximately $1,741,000. Carlson Capital Management purchased a new position in shares of Globant during the 4th quarter worth approximately $205,000. Finally, SG Americas Securities LLC lifted its stake in shares of Globant by 85.4% in the 4th quarter. SG Americas Securities LLC now owns 7,847 shares of the information technology services provider's stock valued at $1,867,000 after purchasing an additional 3,614 shares during the period. Hedge funds and other institutional investors own 91.60% of the company's stock.

Globant Price Performance

Globant stock traded down $17.99 during mid-day trading on Thursday, reaching $173.06. 1,125,750 shares of the stock traded hands, compared to its average volume of 455,709. The stock has a market capitalization of $7.46 billion, a PE ratio of 48.26, a price-to-earnings-growth ratio of 1.40 and a beta of 1.35. The business's 50-day moving average is $197.94 and its 200-day moving average is $211.78. Globant S.A. has a 12-month low of $135.40 and a 12-month high of $251.50.

Globant (NYSE:GLOB - Get Free Report) last released its earnings results on Thursday, February 15th. The information technology services provider reported $1.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.34 by ($0.08). Globant had a return on equity of 11.38% and a net margin of 7.56%. The business had revenue of $580.71 million for the quarter, compared to analysts' expectations of $579.70 million. Equities analysts anticipate that Globant S.A. will post 5.03 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

GLOB has been the subject of several recent research reports. JPMorgan Chase & Co. lowered their price objective on Globant from $273.00 to $257.00 and set an "overweight" rating for the company in a research report on Thursday, May 2nd. Wedbush reissued an "outperform" rating and issued a $250.00 price target on shares of Globant in a research report on Friday, February 16th. Scotiabank reduced their price objective on Globant from $260.00 to $230.00 and set a "sector outperform" rating for the company in a research report on Monday, April 29th. HSBC lowered their price objective on Globant from $275.00 to $270.00 and set a "buy" rating for the company in a research note on Wednesday, April 3rd. Finally, Piper Sandler raised their price target on Globant from $257.00 to $290.00 and gave the company an "overweight" rating in a report on Friday, February 16th. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, Globant has a consensus rating of "Moderate Buy" and a consensus price target of $244.35.

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.