International Assets Investment Management LLC Makes New $36.51 Million Investment in Globant S.A. (NYSE:GLOB)

International Assets Investment Management LLC acquired a new position in Globant S.A. (NYSE:GLOB - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 18,427 shares of the information technology services provider's stock, valued at approximately $36,510,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Manning & Napier Advisors LLC bought a new position in shares of Globant during the second quarter valued at $99,396,000. Dimensional Fund Advisors LP raised its position in Globant by 57.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 442,312 shares of the information technology services provider's stock worth $78,851,000 after buying an additional 161,512 shares during the last quarter. Sei Investments Co. lifted its stake in Globant by 43.4% during the 2nd quarter. Sei Investments Co. now owns 512,916 shares of the information technology services provider's stock valued at $91,432,000 after acquiring an additional 155,112 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of Globant by 89.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 266,184 shares of the information technology services provider's stock valued at $47,450,000 after acquiring an additional 126,030 shares during the last quarter. Finally, Millennium Management LLC grew its stake in shares of Globant by 84.8% in the second quarter. Millennium Management LLC now owns 261,270 shares of the information technology services provider's stock worth $46,574,000 after acquiring an additional 119,860 shares during the period. 91.60% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on GLOB shares. Jefferies Financial Group increased their price objective on shares of Globant from $235.00 to $240.00 and gave the company a "buy" rating in a research report on Monday, September 9th. TD Cowen lifted their price objective on Globant from $220.00 to $230.00 and gave the stock a "buy" rating in a report on Friday, August 16th. Scotiabank increased their target price on Globant from $200.00 to $210.00 and gave the company a "sector perform" rating in a report on Wednesday, August 21st. StockNews.com raised shares of Globant from a "sell" rating to a "hold" rating in a research report on Wednesday, October 23rd. Finally, Needham & Company LLC boosted their target price on shares of Globant from $200.00 to $245.00 and gave the company a "buy" rating in a research report on Friday, August 16th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $225.63.

Globant Stock Up 0.9 %

Globant stock traded up $1.87 during midday trading on Tuesday, reaching $220.68. 280,696 shares of the stock traded hands, compared to its average volume of 481,151. Globant S.A. has a 12 month low of $151.68 and a 12 month high of $251.50. The stock's fifty day moving average is $203.48 and its 200-day moving average is $187.53. The stock has a market cap of $9.51 billion, a P/E ratio of 57.92, a PEG ratio of 2.70 and a beta of 1.39.

Globant (NYSE:GLOB - Get Free Report) last announced its quarterly earnings results on Thursday, August 15th. The information technology services provider reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.01. Globant had a net margin of 7.39% and a return on equity of 11.68%. The company had revenue of $587.46 million for the quarter, compared to analysts' expectations of $586.72 million. During the same quarter in the previous year, the business posted $1.04 earnings per share. Globant's quarterly revenue was up 18.1% on a year-over-year basis. On average, equities analysts predict that Globant S.A. will post 5.02 EPS 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.