Globant S.A. (NYSE:GLOB) Stock Position Increased by Principal Financial Group Inc.

Principal Financial Group Inc. raised its stake in Globant S.A. (NYSE:GLOB - Free Report) by 121.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. 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 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Oddo BHF Asset Management Sas acquired a new stake in Globant during the third quarter worth approximately $10,814,000. Franklin Resources Inc. lifted its stake in shares of Globant by 0.6% during the 3rd quarter. Franklin Resources Inc. now owns 12,800 shares of the information technology services provider's stock worth $2,704,000 after purchasing an additional 71 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in shares of Globant during the third quarter worth $40,000. Sanctuary Advisors LLC grew its position in shares of Globant by 26.2% in the third quarter. Sanctuary Advisors LLC now owns 3,312 shares of the information technology services provider's stock valued at $656,000 after purchasing an additional 688 shares during the period. Finally, M&T Bank Corp increased its stake in Globant by 3.8% in the third quarter. M&T Bank Corp now owns 1,641 shares of the information technology services provider's stock valued at $326,000 after purchasing an additional 60 shares during the last quarter. 91.60% of the stock is currently owned by hedge funds and other institutional investors.

Globant Stock Down 0.6 %

Shares of GLOB traded down $1.34 during mid-day trading on Thursday, hitting $213.08. The stock had a trading volume of 437,740 shares, compared to its average volume of 474,703. The company has a market cap of $9.18 billion, a PE ratio of 55.63, a PEG ratio of 2.72 and a beta of 1.37. Globant S.A. has a fifty-two week low of $151.68 and a fifty-two week high of $251.50. The company's fifty day simple moving average is $221.22 and its two-hundred day simple moving average is $203.31.

Analyst Upgrades and Downgrades

Several research firms have commented on GLOB. Canaccord Genuity Group restated a "hold" rating and issued a $205.00 price target on shares of Globant in a report on Monday, November 18th. Needham & Company LLC boosted their target price on shares of Globant from $245.00 to $265.00 and gave the company a "buy" rating in a report on Friday, November 15th. TD Cowen increased their price target on shares of Globant from $230.00 to $240.00 and gave the stock a "buy" rating in a research note on Friday, November 15th. Jefferies Financial Group boosted their price objective on shares of Globant from $235.00 to $240.00 and gave the company a "buy" rating in a research note on Monday, September 9th. Finally, StockNews.com raised Globant from a "sell" rating to a "hold" rating in a research report on Sunday, November 24th. One analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, Globant presently has a consensus rating of "Moderate Buy" and a consensus target price of $230.44.

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.