Shaker Investments LLC OH Buys Shares of 2,593 Globant S.A. (NYSE:GLOB)

Shaker Investments LLC OH acquired a new stake in Globant S.A. (NYSE:GLOB - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 2,593 shares of the information technology services provider's stock, valued at approximately $556,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Stephens Inc. AR boosted its position in shares of Globant by 9.1% during the 4th quarter. Stephens Inc. AR now owns 2,769 shares of the information technology services provider's stock worth $594,000 after acquiring an additional 230 shares in the last quarter. Stephens Investment Management Group LLC boosted its holdings in shares of Globant by 7.0% in the 4th quarter. Stephens Investment Management Group LLC now owns 287,467 shares of the information technology services provider's stock valued at $61,639,000 after buying an additional 18,889 shares in the last quarter. Bleakley Financial Group LLC acquired a new stake in Globant during the 4th quarter worth $608,000. abrdn plc lifted its position in Globant by 36.7% in the fourth quarter. abrdn plc now owns 470,150 shares of the information technology services provider's stock valued at $101,564,000 after acquiring an additional 126,333 shares during the last quarter. Finally, Alliance Wealth Advisors LLC UT acquired a new position in Globant in the fourth quarter valued at $271,000. Institutional investors and hedge funds own 91.60% of the company's stock.

Globant Stock Down 2.3 %

Shares of Globant stock traded down $5.37 during trading on Friday, reaching $223.36. The company's stock had a trading volume of 246,087 shares, compared to its average volume of 443,168. The business has a 50 day moving average price of $215.78 and a 200-day moving average price of $209.88. The company has a market capitalization of $9.62 billion, a P/E ratio of 58.36, a price-to-earnings-growth ratio of 2.46 and a beta of 1.39. Globant S.A. has a 12-month low of $151.68 and a 12-month high of $243.35.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on GLOB shares. Susquehanna assumed coverage on Globant in a research report on Tuesday, December 17th. They set a "positive" rating and a $255.00 target price on the stock. TD Cowen boosted their price objective on Globant from $230.00 to $240.00 and gave the company a "buy" rating in a research note on Friday, November 15th. Needham & Company LLC restated a "buy" rating and set a $265.00 target price on shares of Globant in a research report on Friday, January 24th. JPMorgan Chase & Co. lifted their target price on shares of Globant from $237.00 to $248.00 and gave the company an "overweight" rating in a report on Wednesday, October 30th. Finally, UBS Group decreased their price target on shares of Globant from $222.00 to $217.00 and set a "neutral" rating for the company in a research note on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, Globant presently has an average rating of "Moderate Buy" and an average target price of $230.28.

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.