Principal Financial Group Inc. Buys 16,639 Shares of Globant S.A. (NYSE:GLOB)

Principal Financial Group Inc. lifted its stake in Globant S.A. (NYSE:GLOB - Free Report) by 121.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 30,351 shares of the information technology services provider's stock after acquiring an additional 16,639 shares during the quarter. Principal Financial Group Inc. owned approximately 0.07% of Globant worth $6,014,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. BOKF NA increased its position in Globant by 15,800.0% during the first quarter. BOKF NA now owns 159 shares of the information technology services provider's stock worth $32,000 after buying an additional 158 shares during the last quarter. Quarry LP increased its position 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 buying an additional 143 shares during the last quarter. Ridgewood Investments LLC bought a new stake in shares of Globant during the second quarter worth approximately $31,000. ORG Partners LLC boosted its holdings in shares of Globant by 65.5% during the third 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 period. Finally, American National Bank & Trust boosted its holdings in shares of Globant by 430.2% during the third quarter. American National Bank & Trust now owns 228 shares of the information technology services provider's stock worth $45,000 after acquiring an additional 185 shares during the period. Institutional investors and hedge funds own 91.60% of the company's stock.

Globant Price Performance

NYSE:GLOB opened at $215.70 on Thursday. Globant S.A. has a one year low of $151.68 and a one year high of $251.50. The company's 50-day simple moving average is $209.32 and its 200 day simple moving average is $191.52. The firm has a market capitalization of $9.29 billion, a P/E ratio of 56.32, a PEG ratio of 2.55 and a beta of 1.39.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. StockNews.com cut Globant from a "hold" rating to a "sell" rating in a report on Saturday, November 16th. Canaccord Genuity Group reiterated a "hold" rating and issued a $205.00 price target on shares of Globant in a research note on Monday. JPMorgan Chase & Co. boosted their price target on Globant from $237.00 to $248.00 and gave the company an "overweight" rating in a research note on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft started coverage on Globant in a research note on Thursday, August 22nd. They set a "hold" rating and a $210.00 target price for the company. Finally, Citigroup upped their target price on Globant from $240.00 to $251.00 and gave the stock a "buy" rating in a research note on Monday, October 28th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $229.06.

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.