UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Buys 8,427 Shares of Globant S.A. (NYSE:GLOB)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Globant S.A. (NYSE:GLOB - Free Report) by 18.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 53,816 shares of the information technology services provider's stock after acquiring an additional 8,427 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.12% of Globant worth $10,663,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in GLOB. Quarry LP lifted its stake in Globant by 529.6% in the second quarter. Quarry LP now owns 170 shares of the information technology services provider's stock valued at $30,000 after buying an additional 143 shares during the period. Ridgewood Investments LLC acquired a new position in shares of Globant during the 2nd quarter valued at $31,000. ORG Partners LLC boosted its stake in 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 in the last quarter. American National Bank & Trust grew its holdings in Globant by 430.2% in the third quarter. American National Bank & Trust now owns 228 shares of the information technology services provider's stock worth $45,000 after purchasing an additional 185 shares during the period. Finally, Signaturefd LLC increased its stake in Globant by 46.0% in the third quarter. Signaturefd LLC now owns 292 shares of the information technology services provider's stock valued at $58,000 after purchasing an additional 92 shares in the last quarter. Institutional investors own 91.60% of the company's stock.

Globant Stock Performance

GLOB traded up $7.60 during midday trading on Friday, reaching $229.73. The company had a trading volume of 382,827 shares, compared to its average volume of 507,979. The business has a 50-day moving average price of $217.41 and a two-hundred day moving average price of $195.78. Globant S.A. has a 12-month low of $151.68 and a 12-month high of $251.50. The stock has a market cap of $9.90 billion, a PE ratio of 59.98, a P/E/G ratio of 2.78 and a beta of 1.37.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Canaccord Genuity Group reissued a "hold" rating and set a $205.00 price objective on shares of Globant in a research report on Monday, November 18th. Needham & Company LLC raised their price objective on Globant from $245.00 to $265.00 and gave the company a "buy" rating in a research note on Friday, November 15th. Jefferies Financial Group upped their target price on Globant from $235.00 to $240.00 and gave the stock a "buy" rating in a research report on Monday, September 9th. Scotiabank boosted their price target on shares of Globant from $210.00 to $220.00 and gave the company a "sector perform" rating in a research note on Tuesday, November 19th. Finally, KeyCorp boosted their target price on shares of Globant from $220.00 to $235.00 and gave the stock an "overweight" rating in a research report on Friday, August 16th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $229.00.

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.