Qube Research & Technologies Ltd Makes New $2.86 Million Investment in Globant S.A. (NYSE:GLOB)

Qube Research & Technologies Ltd bought a new position in Globant S.A. (NYSE:GLOB) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 13,069 shares of the information technology services provider’s stock, valued at approximately $2,864,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Belpointe Asset Management LLC lifted its position in shares of Globant by 7.8% in the second quarter. Belpointe Asset Management LLC now owns 582 shares of the information technology services provider’s stock worth $127,000 after purchasing an additional 42 shares in the last quarter. Parkside Financial Bank & Trust lifted its position in shares of Globant by 3.8% in the second quarter. Parkside Financial Bank & Trust now owns 1,168 shares of the information technology services provider’s stock worth $256,000 after purchasing an additional 43 shares in the last quarter. Panagora Asset Management Inc. lifted its position in shares of Globant by 0.9% in the first quarter. Panagora Asset Management Inc. now owns 6,101 shares of the information technology services provider’s stock worth $1,267,000 after purchasing an additional 54 shares in the last quarter. Wedbush Securities Inc. lifted its position in shares of Globant by 2.8% in the second quarter. Wedbush Securities Inc. now owns 2,436 shares of the information technology services provider’s stock worth $534,000 after purchasing an additional 67 shares in the last quarter. Finally, Vestmark Advisory Solutions Inc. lifted its position in shares of Globant by 1.6% in the second quarter. Vestmark Advisory Solutions Inc. now owns 6,418 shares of the information technology services provider’s stock worth $1,407,000 after purchasing an additional 103 shares in the last quarter. Institutional investors own 85.96% of the company’s stock.

Several equities analysts recently weighed in on the stock. Jefferies Financial Group raised their price objective on shares of Globant from $290.00 to $371.00 and gave the company a “buy” rating in a research report on Thursday, August 26th. Citigroup raised their price objective on shares of Globant from $243.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, July 14th. Cowen raised their price objective on shares of Globant from $260.00 to $290.00 and gave the company an “outperform” rating in a research report on Friday, August 13th. Zacks Investment Research raised shares of Globant from a “hold” rating to a “buy” rating and set a $300.00 price objective on the stock in a research report on Tuesday. Finally, Piper Sandler raised their price objective on shares of Globant from $280.00 to $300.00 and gave the company an “overweight” rating in a research report on Friday, August 13th. Ten investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $296.90.

NYSE:GLOB opened at $286.19 on Thursday. Globant S.A. has a 12 month low of $173.34 and a 12 month high of $332.79. The firm has a market cap of $11.45 billion, a price-to-earnings ratio of 116.46 and a beta of 1.31. The company’s 50 day moving average is $298.14 and its 200-day moving average is $248.05.

Globant (NYSE:GLOB) last released its quarterly earnings results on Thursday, August 12th. The information technology services provider reported $0.71 EPS for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.08. Globant had a net margin of 7.15% and a return on equity of 10.22%. The company had revenue of $305.26 million for the quarter, compared to analyst estimates of $286.79 million. As a group, research analysts expect that Globant S.A. will post 2.73 EPS for the current fiscal year.

About Globant

Globant SA engages in the provision of information technology services. It offers application development and maintenance, testing, and infrastructure management. The company was founded by Martín Migoya, Martín Gonzalo Umaran, Guibert Andrés Englebienne, and Néstor Augusto Nocetti in 2003 and is headquartered in Luxembourg.

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Institutional Ownership by Quarter for Globant (NYSE:GLOB)

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