Globant S.A. (NYSE:GLOB) Stake Boosted by Jennison Associates LLC

Jennison Associates LLC lifted its stake in shares of Globant S.A. (NYSE:GLOB - Free Report) by 0.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 802,547 shares of the information technology services provider's stock after buying an additional 4,970 shares during the quarter. Jennison Associates LLC owned approximately 1.86% of Globant worth $172,082,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Quarry LP lifted its stake in 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 lifted its stake in Globant by 65.5% in the third quarter. ORG Partners LLC now owns 192 shares of the information technology services provider's stock valued at $38,000 after buying an additional 76 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Globant in the third quarter valued at $40,000. Signaturefd LLC lifted its stake in Globant by 46.0% in the third quarter. Signaturefd LLC now owns 292 shares of the information technology services provider's stock valued at $58,000 after buying an additional 92 shares during the last quarter. Finally, Van ECK Associates Corp lifted its stake in Globant by 62.4% in the third quarter. Van ECK Associates Corp now owns 398 shares of the information technology services provider's stock valued at $86,000 after buying an additional 153 shares during the last quarter. Institutional investors and hedge funds own 91.60% of the company's stock.

Analyst Ratings Changes

A number of research firms have issued reports on GLOB. Needham & Company LLC reiterated a "buy" rating and issued a $265.00 target price on shares of Globant in a research note on Friday, January 24th. TD Cowen raised their target price on Globant from $230.00 to $240.00 and gave the company a "buy" rating in a research note on Friday, November 15th. StockNews.com upgraded Globant from a "sell" rating to a "hold" rating in a research note on Sunday, November 24th. Scotiabank raised their target price on Globant from $210.00 to $220.00 and gave the company a "sector perform" rating in a research note on Tuesday, November 19th. Finally, Piper Sandler lowered their price target on Globant from $240.00 to $237.00 and set an "overweight" rating on the stock in a report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $230.28.

Globant Trading Up 1.4 %

NYSE:GLOB traded up $3.04 during mid-day trading on Thursday, reaching $217.32. 397,511 shares of the stock were exchanged, compared to its average volume of 439,305. The business has a fifty day moving average price of $216.56 and a 200 day moving average price of $208.92. The firm has a market capitalization of $9.36 billion, a PE ratio of 56.74, a PEG ratio of 2.33 and a beta of 1.39. Globant S.A. has a 1-year low of $151.68 and a 1-year high of $245.81.

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.