AE Wealth Management LLC Makes New $516,000 Investment in Globant S.A. (NYSE:GLOB)

AE Wealth Management LLC purchased a new position in Globant S.A. (NYSE:GLOB) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,484 shares of the information technology services provider’s stock, valued at approximately $516,000.

A number of other hedge funds have also bought and sold shares of the business. Itau Unibanco Holding S.A. boosted its position in shares of Globant by 460.7% during the 4th quarter. Itau Unibanco Holding S.A. now owns 1,610,111 shares of the information technology services provider’s stock valued at $55,309,000 after acquiring an additional 1,322,944 shares during the last quarter. BlackRock Inc. lifted its position in Globant by 14.4% in the fourth quarter. BlackRock Inc. now owns 4,209,810 shares of the information technology services provider’s stock worth $916,096,000 after buying an additional 530,672 shares during the last quarter. Norges Bank bought a new stake in Globant in the fourth quarter worth $76,343,000. Thornburg Investment Management Inc. lifted its position in Globant by 196.9% in the fourth quarter. Thornburg Investment Management Inc. now owns 261,260 shares of the information technology services provider’s stock worth $56,853,000 after buying an additional 173,275 shares during the last quarter. Finally, Riverbridge Partners LLC increased its stake in Globant by 11.2% in the fourth quarter. Riverbridge Partners LLC now owns 1,589,829 shares of the information technology services provider’s stock worth $345,963,000 after purchasing an additional 160,270 shares during the period. Institutional investors and hedge funds own 89.97% of the company’s stock.

A number of research firms have weighed in on GLOB. Grupo Santander began coverage on Globant in a research note on Wednesday, March 10th. They issued a “buy” rating and a $230.00 target price on the stock. TheStreet upgraded Globant from a “c+” rating to a “b-” rating in a research note on Thursday, February 18th. Zacks Investment Research lowered Globant from a “buy” rating to a “hold” rating in a research note on Monday, May 3rd. JPMorgan Chase & Co. raised their price target on Globant from $203.00 to $236.00 and gave the company an “overweight” rating in a research note on Friday, February 19th. Finally, Piper Sandler raised their price target on Globant from $222.00 to $234.00 and gave the company a “neutral” rating in a research note on Thursday, February 25th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Globant presently has an average rating of “Buy” and an average price target of $226.89.

Shares of Globant stock opened at $213.07 on Wednesday. The company has a market capitalization of $8.53 billion, a PE ratio of 169.10 and a beta of 1.24. The company has a debt-to-equity ratio of 0.09, a quick ratio of 3.44 and a current ratio of 3.44. The company has a 50-day simple moving average of $219.70 and a two-hundred day simple moving average of $208.23. Globant S.A. has a one year low of $102.05 and a one year high of $244.72.

Globant (NYSE:GLOB) last issued its quarterly earnings results on Thursday, February 18th. The information technology services provider reported $0.70 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.20. The business had revenue of $232.64 million for the quarter, compared to analyst estimates of $222.05 million. Globant had a return on equity of 10.92% and a net margin of 6.40%. On average, equities analysts predict that Globant S.A. will post 1.76 earnings per share for the current fiscal year.

Globant Company Profile

Globant SA operates as a technology services company worldwide. The company offers transformational programs, ROI and cost efficiency, new revenue streams, E-mission, sustainability today, up with climate, organizational design, leadership mindset and organizational upskilling, cultural strategy, talent journeys, change management, delivery management, agile consultancy, management consulting, user experience, visual and service design, industrial design, strategic architecture consulting, platforms evolution, and augmented composable services.

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Institutional Ownership by Quarter for Globant (NYSE:GLOB)

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