Globant S.A. (NYSE:GLOB) Position Boosted by abrdn plc

abrdn plc lifted its position in Globant S.A. (NYSE:GLOB) by 36.7% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 470,150 shares of the information technology services provider’s stock after buying an additional 126,333 shares during the quarter. abrdn plc’s holdings in Globant were worth $101,564,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Quarry LP grew its stake in shares of Globant by 529.6% in the 2nd 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 in the last quarter. ORG Partners LLC grew its stake in shares of Globant by 65.5% in the 3rd quarter. ORG Partners LLC now owns 192 shares of the information technology services provider’s stock valued at $38,000 after buying an additional 76 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Globant in the 3rd quarter valued at approximately $40,000. Signaturefd LLC boosted its position in Globant by 46.0% during the third quarter. Signaturefd LLC now owns 292 shares of the information technology services provider’s stock worth $58,000 after purchasing an additional 92 shares during the period. Finally, Van ECK Associates Corp boosted its position in Globant by 62.4% during the third quarter. Van ECK Associates Corp now owns 398 shares of the information technology services provider’s stock worth $86,000 after purchasing an additional 153 shares during the period. Institutional investors own 91.60% of the company’s stock.

Globant Trading Down 0.7 %

Shares of NYSE GLOB opened at $211.90 on Tuesday. The business has a fifty day simple moving average of $217.57 and a 200 day simple moving average of $208.64. The firm has a market capitalization of $9.13 billion, a price-to-earnings ratio of 55.33, a PEG ratio of 2.33 and a beta of 1.39. Globant S.A. has a one year low of $151.68 and a one year high of $248.94.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Susquehanna assumed coverage on Globant in a research report on Tuesday, December 17th. They set a “positive” rating and a $255.00 target price for the company. Canaccord Genuity Group reaffirmed a “hold” rating and set a $205.00 target price on shares of Globant in a research report on Monday, November 18th. Needham & Company LLC reaffirmed a “buy” rating and set a $265.00 target price on shares of Globant in a research report on Friday, January 24th. StockNews.com raised Globant from a “sell” rating to a “hold” rating in a research report on Sunday, November 24th. Finally, Jefferies Financial Group upped their price target on Globant from $240.00 to $255.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Globant has an average rating of “Moderate Buy” and a consensus price target of $230.28.

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.