abrdn plc Buys 126,333 Shares of Globant S.A. (NYSE:GLOB)

abrdn plc grew its stake in Globant S.A. (NYSE:GLOB - Free Report) by 36.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 470,150 shares of the information technology services provider's stock after purchasing an additional 126,333 shares during the period. abrdn plc owned about 1.09% of Globant worth $101,564,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Quarry LP grew its holdings in shares of Globant by 529.6% during the second quarter. Quarry LP now owns 170 shares of the information technology services provider's stock worth $30,000 after purchasing an additional 143 shares during the last quarter. ORG Partners LLC grew its holdings in Globant by 65.5% during the 3rd quarter. ORG Partners LLC now owns 192 shares of the information technology services provider's stock worth $38,000 after acquiring an additional 76 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Globant in the 3rd quarter valued at approximately $40,000. Signaturefd LLC raised its stake in shares of Globant by 46.0% during the third quarter. Signaturefd LLC now owns 292 shares of the information technology services provider's stock valued at $58,000 after acquiring an additional 92 shares during the last quarter. Finally, Van ECK Associates Corp raised its stake in shares of Globant by 62.4% during the third quarter. Van ECK Associates Corp now owns 398 shares of the information technology services provider's stock valued at $86,000 after acquiring an additional 153 shares during the last quarter. 91.60% of the stock is owned by institutional investors.

Globant Stock Performance

Shares of NYSE GLOB traded up $0.41 during midday trading on Friday, hitting $217.64. 613,234 shares of the stock traded hands, compared to its average volume of 446,261. Globant S.A. has a one year low of $151.68 and a one year high of $245.81. The business has a 50 day moving average price of $216.31 and a two-hundred day moving average price of $208.98. The company has a market cap of $9.38 billion, a PE ratio of 56.83, a P/E/G ratio of 2.33 and a beta of 1.39.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on GLOB shares. Canaccord Genuity Group restated a "hold" rating and issued a $205.00 price objective on shares of Globant in a report on Monday, November 18th. Piper Sandler decreased their price target on Globant from $240.00 to $237.00 and set an "overweight" rating for the company in a research note on Friday, November 15th. Citigroup lifted their price objective on Globant from $240.00 to $251.00 and gave the stock a "buy" rating in a research note on Monday, October 28th. Scotiabank increased their target price on shares of Globant from $210.00 to $220.00 and gave the company a "sector perform" rating in a research report on Tuesday, November 19th. Finally, TD Cowen boosted their price target on shares of Globant from $230.00 to $240.00 and gave the stock a "buy" rating in a research report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $230.28.

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.