RiverPark Advisors LLC Purchases New Holdings in Globant S.A. (NYSE:GLOB)

RiverPark Advisors LLC acquired a new position in shares of Globant S.A. (NYSE:GLOB) during the 1st quarter, HoldingsChannel.com reports. The firm acquired 269 shares of the information technology services provider’s stock, valued at approximately $54,000.

A number of other hedge funds have also recently bought and sold shares of the company. Wasatch Advisors LP raised its position in shares of Globant by 6.8% during the 1st quarter. Wasatch Advisors LP now owns 3,336,764 shares of the information technology services provider’s stock valued at $673,693,000 after acquiring an additional 213,049 shares during the last quarter. Capital International Investors increased its holdings in Globant by 0.5% in the fourth quarter. Capital International Investors now owns 1,323,859 shares of the information technology services provider’s stock valued at $315,052,000 after purchasing an additional 6,707 shares during the last quarter. Jennison Associates LLC lifted its stake in Globant by 289.5% in the fourth quarter. Jennison Associates LLC now owns 960,833 shares of the information technology services provider’s stock valued at $228,659,000 after buying an additional 714,162 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in Globant by 36.7% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 705,090 shares of the information technology services provider’s stock worth $167,797,000 after buying an additional 189,204 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Globant during the 4th quarter worth about $114,922,000. 91.60% of the stock is currently owned by institutional investors.

Globant Trading Down 1.1 %

GLOB stock traded down $2.03 during trading hours on Wednesday, hitting $175.72. 45,191 shares of the stock were exchanged, compared to its average volume of 505,956. Globant S.A. has a 12 month low of $151.68 and a 12 month high of $251.50. The firm has a market capitalization of $7.57 billion, a P/E ratio of 46.17, a P/E/G ratio of 1.85 and a beta of 1.41. The company has a 50-day simple moving average of $170.04 and a two-hundred day simple moving average of $200.34.

Globant (NYSE:GLOB) last issued its quarterly earnings data on Thursday, May 16th. The information technology services provider reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.01. Globant had a net margin of 7.62% and a return on equity of 11.60%. The business had revenue of $571.08 million during the quarter, compared to analysts’ expectations of $570.72 million. On average, equities research analysts predict that Globant S.A. will post 5 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on GLOB. Citigroup decreased their price objective on shares of Globant from $235.00 to $215.00 and set a “buy” rating for the company in a report on Friday, May 17th. UBS Group upgraded Globant from a “neutral” rating to a “buy” rating and reduced their target price for the stock from $240.00 to $230.00 in a report on Tuesday, May 28th. JPMorgan Chase & Co. lowered their price target on Globant from $273.00 to $257.00 and set an “overweight” rating for the company in a report on Thursday, May 2nd. KeyCorp cut their price objective on Globant from $272.00 to $220.00 and set an “overweight” rating on the stock in a report on Friday, May 17th. Finally, Scotiabank decreased their price objective on Globant from $200.00 to $190.00 and set a “sector perform” rating for the company in a research report on Friday, May 17th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, Globant has an average rating of “Moderate Buy” and an average target price of $216.44.

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.