LGT Group Foundation Invests $1.58 Million in Globant S.A. (NYSE:GLOB)

LGT Group Foundation purchased a new position in shares of Globant S.A. (NYSE:GLOB - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,384 shares of the information technology services provider's stock, valued at approximately $1,583,000.

Several other hedge funds have also recently modified their holdings of GLOB. GW&K Investment Management LLC raised its holdings in Globant by 0.4% during the fourth quarter. GW&K Investment Management LLC now owns 371,595 shares of the information technology services provider's stock worth $79,678,000 after purchasing an additional 1,645 shares in the last quarter. Centricity Wealth Management LLC purchased a new position in shares of Globant during the 4th quarter worth approximately $38,000. Van Berkom & Associates Inc. purchased a new position in shares of Globant during the 4th quarter worth approximately $45,000. Flossbach Von Storch SE lifted its holdings in shares of Globant by 6.1% in the 4th quarter. Flossbach Von Storch SE now owns 17,500 shares of the information technology services provider's stock valued at $3,752,000 after buying an additional 1,000 shares during the period. Finally, Kestra Investment Management LLC purchased a new stake in shares of Globant in the fourth quarter valued at approximately $38,000. 91.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on GLOB. Needham & Company LLC cut their price objective on Globant from $265.00 to $220.00 and set a "buy" rating for the company in a research report on Friday, February 21st. Jefferies Financial Group increased their price target on shares of Globant from $240.00 to $255.00 and gave the company a "buy" rating in a report on Tuesday, January 21st. Redburn Atlantic raised shares of Globant from a "sell" rating to a "neutral" rating and boosted their price objective for the stock from $140.00 to $150.00 in a report on Tuesday, February 25th. UBS Group lowered their target price on shares of Globant from $217.00 to $190.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 26th. Finally, StockNews.com upgraded shares of Globant from a "sell" rating to a "hold" rating in a research report on Sunday, November 24th. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Globant has an average rating of "Moderate Buy" and an average price target of $221.39.

Remove Ads

Globant Stock Performance

GLOB stock traded down $0.40 during trading on Friday, hitting $140.31. The stock had a trading volume of 948,106 shares, compared to its average volume of 772,673. The stock has a market cap of $6.05 billion, a price-to-earnings ratio of 37.72, a price-to-earnings-growth ratio of 2.38 and a beta of 1.39. The company's 50 day moving average price is $201.16 and its two-hundred day moving average price is $208.07. Globant S.A. has a 1-year low of $138.24 and a 1-year high of $238.32.

Globant (NYSE:GLOB - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The information technology services provider reported $1.36 earnings per share for the quarter, missing analysts' consensus estimates of $1.75 by ($0.39). Globant had a net margin of 6.86% and a return on equity of 11.83%. The firm had revenue of $642.48 million during the quarter, compared to analyst estimates of $644.42 million. As a group, sell-side analysts forecast that Globant S.A. will post 5.73 earnings per share for the current fiscal 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.