Wasatch Advisors Inc. Has $44.39 Million Holdings in Globant S.A. (GLOB)
Wasatch Advisors Inc. reduced its stake in shares of Globant S.A. (NYSE:GLOB) by 27.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,107,816 shares of the information technology services provider’s stock after selling 423,748 shares during the quarter. Wasatch Advisors Inc. owned about 3.17% of Globant worth $44,390,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of GLOB. Riverbridge Partners LLC bought a new stake in Globant during the second quarter worth approximately $43,179,000. Koch Industries Inc. bought a new stake in Globant during the second quarter worth approximately $376,000. JPMorgan Chase & Co. increased its stake in Globant by 13.1% during the second quarter. JPMorgan Chase & Co. now owns 2,580,601 shares of the information technology services provider’s stock worth $112,101,000 after acquiring an additional 297,985 shares during the last quarter. Janus Henderson Group PLC bought a new stake in Globant during the second quarter worth approximately $9,359,000. Finally, Gluskin Sheff & Assoc Inc. increased its stake in Globant by 54.8% during the third quarter. Gluskin Sheff & Assoc Inc. now owns 363,794 shares of the information technology services provider’s stock worth $14,577,000 after acquiring an additional 128,794 shares during the last quarter. 64.74% of the stock is currently owned by institutional investors.
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Globant S.A. (NYSE GLOB) traded up $0.01 on Wednesday, hitting $40.75. The stock had a trading volume of 249,800 shares, compared to its average volume of 256,343. The company has a market capitalization of $1,429.97, a PE ratio of 47.37 and a beta of 0.83. Globant S.A. has a 1 year low of $30.90 and a 1 year high of $47.51.
Several brokerages have weighed in on GLOB. Cantor Fitzgerald reissued a “neutral” rating and set a $36.00 price objective (down from $42.00) on shares of Globant in a research note on Friday, November 17th. Zacks Investment Research raised Globant from a “sell” rating to a “hold” rating in a research note on Wednesday, November 15th. KeyCorp reissued a “hold” rating on shares of Globant in a research note on Friday, November 3rd. BidaskClub cut Globant from a “hold” rating to a “sell” rating in a research note on Wednesday, November 1st. Finally, SunTrust Banks, Inc. reissued a “hold” rating on shares of Globant in a research note on Sunday, October 22nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $44.83.
Globant Company Profile
Globant SA is a digitally native technology services company. The Company’s principal operating subsidiary is based in Buenos Aires, Argentina. During the year ended December 31, 2015, 83.7% of its revenues were generated by clients in North America, 11.0% in Latin America and Asia, and 5.3% in Europe.
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