Axiom Investors LLC DE Has $28.56 Million Stake in Globant S.A. (NYSE:GLOB)

Axiom Investors LLC DE increased its stake in shares of Globant S.A. (NYSE:GLOB - Free Report) by 53.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 133,176 shares of the information technology services provider's stock after purchasing an additional 46,649 shares during the period. Axiom Investors LLC DE owned approximately 0.31% of Globant worth $28,556,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Cerity Partners LLC grew its holdings in Globant by 31.0% during the third quarter. Cerity Partners LLC now owns 15,022 shares of the information technology services provider's stock valued at $2,977,000 after purchasing an additional 3,556 shares during the period. Bank of Montreal Can grew its holdings in shares of Globant by 48.9% in the 3rd quarter. Bank of Montreal Can now owns 21,642 shares of the information technology services provider's stock valued at $4,278,000 after buying an additional 7,110 shares during the period. Townsquare Capital LLC grew its holdings in shares of Globant by 15.4% in the 3rd quarter. Townsquare Capital LLC now owns 5,878 shares of the information technology services provider's stock valued at $1,165,000 after buying an additional 784 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Globant in the 3rd quarter valued at $11,145,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Globant by 18.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 53,816 shares of the information technology services provider's stock worth $10,663,000 after buying an additional 8,427 shares during the period. Institutional investors own 91.60% of the company's stock.

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Globant Stock Performance

NYSE GLOB traded down $4.92 during trading hours on Friday, hitting $100.14. 1,641,770 shares of the company traded hands, compared to its average volume of 572,090. The stock has a market capitalization of $4.41 billion, a price-to-earnings ratio of 26.92, a P/E/G ratio of 2.38 and a beta of 1.47. Globant S.A. has a twelve month low of $96.93 and a twelve month high of $238.32. The business's 50-day moving average is $164.90 and its 200-day moving average is $197.37.

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 for the quarter, missing the consensus estimate of $1.75 by ($0.39). The firm had revenue of $642.48 million during the quarter, compared to the consensus estimate of $644.42 million. Globant had a net margin of 6.86% and a return on equity of 11.83%. Analysts predict that Globant S.A. will post 5.73 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Susquehanna began coverage on Globant in a research note on Tuesday, December 17th. They issued a "positive" rating and a $255.00 target price for the company. Needham & Company LLC reissued a "buy" rating and set a $220.00 target price on shares of Globant in a research note on Wednesday, March 12th. Redburn Atlantic raised shares of Globant from a "sell" rating to a "neutral" rating and lifted their price target for the company from $140.00 to $150.00 in a research note on Tuesday, February 25th. JPMorgan Chase & Co. lowered their price objective on shares of Globant from $248.00 to $242.00 and set an "overweight" rating for the company in a research report on Friday, February 21st. Finally, Piper Sandler cut their price objective on shares of Globant from $237.00 to $230.00 and set an "overweight" rating on the stock in a research report on Friday, February 21st. One analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Globant presently has a consensus rating of "Moderate Buy" and a consensus price target of $216.56.

Globant 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.