Verition Fund Management LLC Takes Position in Globant S.A. (NYSE:GLOB)

Verition Fund Management LLC purchased a new position in Globant S.A. (NYSE:GLOB - Free Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 5,091 shares of the information technology services provider's stock, valued at approximately $1,009,000.

Other institutional investors also recently added to or reduced their stakes in the company. Quarry LP lifted its position in shares of 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 purchasing an additional 143 shares during the last quarter. Ridgewood Investments LLC purchased a new stake in Globant during the 2nd quarter worth about $31,000. ORG Partners LLC boosted its position in shares of 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 acquiring an additional 76 shares in the last quarter. American National Bank & Trust increased its holdings in shares of Globant by 430.2% in the 3rd quarter. American National Bank & Trust now owns 228 shares of the information technology services provider's stock valued at $45,000 after acquiring an additional 185 shares during the last quarter. Finally, Signaturefd LLC raised its position in shares of 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 acquiring an additional 92 shares in the last quarter. Hedge funds and other institutional investors own 91.60% of the company's stock.

Globant Trading Down 1.0 %

Shares of NYSE:GLOB traded down $2.29 during midday trading on Monday, hitting $227.44. The stock had a trading volume of 484,625 shares, compared to its average volume of 480,396. Globant S.A. has a 1 year low of $151.68 and a 1 year high of $251.50. The stock has a 50 day moving average price of $218.00 and a two-hundred day moving average price of $196.35. The company has a market capitalization of $9.80 billion, a PE ratio of 59.38, a P/E/G ratio of 2.83 and a beta of 1.37.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. KeyCorp upped their price target on Globant from $220.00 to $235.00 and gave the company an "overweight" rating in a report on Friday, August 16th. Citigroup increased their target price on shares of Globant from $240.00 to $251.00 and gave the company a "buy" rating in a research report on Monday, October 28th. UBS Group reissued a "neutral" rating and issued a $235.00 price target (up from $225.00) on shares of Globant in a research report on Tuesday, August 20th. Deutsche Bank Aktiengesellschaft assumed coverage on Globant in a report on Thursday, August 22nd. They set a "hold" rating and a $210.00 price objective on the stock. Finally, TD Cowen boosted their target price on Globant from $230.00 to $240.00 and gave the company a "buy" rating in a report on Friday, November 15th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, Globant currently has a consensus rating of "Moderate Buy" and an average target price of $229.00.

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.