Globant S.A. (NYSE:GLOB) Shares Bought by Pier Capital LLC

Pier Capital LLC increased its holdings in shares of Globant S.A. (NYSE:GLOB - Free Report) by 96.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 45,550 shares of the information technology services provider's stock after purchasing an additional 22,318 shares during the period. Globant accounts for 1.3% of Pier Capital LLC's investment portfolio, making the stock its 16th largest holding. Pier Capital LLC owned 0.11% of Globant worth $9,025,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Quarry LP raised its position in Globant by 529.6% during the 2nd quarter. Quarry LP now owns 170 shares of the information technology services provider's stock worth $30,000 after buying an additional 143 shares during the last quarter. Ridgewood Investments LLC purchased a new position in Globant during the 2nd quarter worth $31,000. ORG Partners LLC raised its position 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 buying an additional 76 shares during the last quarter. American National Bank & Trust raised its position in Globant by 430.2% during the 3rd quarter. American National Bank & Trust now owns 228 shares of the information technology services provider's stock worth $45,000 after buying an additional 185 shares during the last quarter. Finally, Signaturefd LLC raised its position in Globant by 46.0% during the 3rd quarter. Signaturefd LLC now owns 292 shares of the information technology services provider's stock worth $58,000 after buying an additional 92 shares during the last quarter. Institutional investors and hedge funds own 91.60% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Needham & Company LLC upped their price objective on shares of Globant from $245.00 to $265.00 and gave the stock a "buy" rating in a research report on Friday, November 15th. Canaccord Genuity Group reiterated a "hold" rating and issued a $205.00 price target on shares of Globant in a report on Monday, November 18th. Deutsche Bank Aktiengesellschaft started coverage on shares of Globant in a report on Thursday, August 22nd. They issued a "hold" rating and a $210.00 price target for the company. Piper Sandler cut their price target on shares of Globant from $240.00 to $237.00 and set an "overweight" rating for the company in a report on Friday, November 15th. Finally, Jefferies Financial Group increased their price target on shares of Globant from $235.00 to $240.00 and gave the company a "buy" rating in a report on Monday, September 9th. One research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $229.00.

Globant Trading Up 3.4 %

Shares of Globant stock traded up $7.60 during mid-day trading on Friday, hitting $229.73. 382,827 shares of the stock were exchanged, compared to its average volume of 507,979. Globant S.A. has a twelve month low of $151.68 and a twelve month high of $251.50. The stock has a market capitalization of $9.90 billion, a price-to-earnings ratio of 59.98, a price-to-earnings-growth ratio of 2.78 and a beta of 1.37. The company has a 50-day simple moving average of $217.41 and a 200 day simple moving average of $195.96.

Globant Company 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.