Future Fund LLC Acquires 668 Shares of Globant S.A. (NYSE:GLOB)

Future Fund LLC lifted its holdings in Globant S.A. (NYSE:GLOB) by 15.9% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,868 shares of the information technology services provider’s stock after purchasing an additional 668 shares during the period. Globant comprises approximately 3.0% of Future Fund LLC’s holdings, making the stock its 19th biggest position. Future Fund LLC’s holdings in Globant were worth $1,023,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in GLOB. Headlands Technologies LLC bought a new position in shares of Globant in the 1st quarter worth approximately $106,000. Entropy Technologies LP increased its holdings in Globant by 482.2% in the 1st quarter. Entropy Technologies LP now owns 8,395 shares of the information technology services provider’s stock worth $1,695,000 after acquiring an additional 6,953 shares in the last quarter. State Board of Administration of Florida Retirement System increased its holdings in Globant by 6.7% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 46,238 shares of the information technology services provider’s stock worth $9,335,000 after acquiring an additional 2,884 shares in the last quarter. Orion Portfolio Solutions LLC increased its holdings in Globant by 5.6% in the 1st quarter. Orion Portfolio Solutions LLC now owns 14,966 shares of the information technology services provider’s stock worth $3,022,000 after acquiring an additional 794 shares in the last quarter. Finally, Jupiter Asset Management Ltd. increased its holdings in Globant by 14.6% in the 1st quarter. Jupiter Asset Management Ltd. now owns 42,584 shares of the information technology services provider’s stock worth $8,598,000 after acquiring an additional 5,441 shares in the last quarter. Institutional investors own 91.60% of the company’s stock.

Analyst Ratings Changes

GLOB has been the subject of several analyst reports. Piper Sandler reissued an “overweight” rating and issued a $240.00 target price (up from $238.00) on shares of Globant in a report on Friday, August 16th. JPMorgan Chase & Co. increased their price objective on shares of Globant from $237.00 to $248.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. UBS Group reissued a “neutral” rating and set a $235.00 target price (up from $225.00) on shares of Globant in a research note on Tuesday, August 20th. Jefferies Financial Group boosted their target price on shares of Globant from $235.00 to $240.00 and gave the company a “buy” rating in a research note on Monday, September 9th. Finally, Citigroup upped their price objective on shares of Globant from $240.00 to $251.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, Globant has an average rating of “Moderate Buy” and a consensus price target of $227.00.

Globant Trading Up 0.5 %

Globant stock opened at $235.11 on Wednesday. Globant S.A. has a 12 month low of $151.68 and a 12 month high of $251.50. The stock’s 50 day simple moving average is $206.69 and its two-hundred day simple moving average is $189.90. The firm has a market cap of $10.13 billion, a PE ratio of 61.39, a P/E/G ratio of 2.87 and a beta of 1.39.

Globant (NYSE:GLOB) last released its quarterly earnings data on Thursday, August 15th. The information technology services provider reported $1.51 EPS for the quarter, topping the consensus estimate of $1.50 by $0.01. Globant had a return on equity of 11.68% and a net margin of 7.39%. The business had revenue of $587.46 million for the quarter, compared to analyst estimates of $586.72 million. During the same quarter in the prior year, the firm posted $1.04 EPS. The business’s quarterly revenue was up 18.1% compared to the same quarter last year. On average, equities research analysts forecast that Globant S.A. will post 5.06 EPS for the current year.

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.