Raymond James & Associates Grows Position in Globant S.A. (NYSE:GLOB)

Raymond James & Associates raised its stake in shares of Globant S.A. (NYSE:GLOB – Get Rating) by 25.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 25,568 shares of the information technology services provider’s stock after purchasing an additional 5,208 shares during the period. Raymond James & Associates’ holdings in Globant were worth $4,300,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. IFP Advisors Inc increased its position in Globant by 1,068.8% during the 3rd quarter. IFP Advisors Inc now owns 187 shares of the information technology services provider’s stock worth $26,000 after purchasing an additional 171 shares in the last quarter. Belpointe Asset Management LLC purchased a new position in shares of Globant in the 4th quarter valued at $40,000. Advisors Asset Management Inc. purchased a new stake in shares of Globant during the 1st quarter valued at about $72,000. Huntington National Bank raised its stake in shares of Globant by 60.0% during the third quarter. Huntington National Bank now owns 416 shares of the information technology services provider’s stock valued at $78,000 after purchasing an additional 156 shares during the period. Finally, Loomis Sayles & Co. L P increased its stake in Globant by 22.2% during the 1st quarter. Loomis Sayles & Co. L P now owns 468 shares of the information technology services provider’s stock worth $123,000 after buying an additional 85 shares during the period. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. KeyCorp cut their target price on Globant from $211.00 to $201.00 in a research report on Friday, May 19th. Piper Sandler boosted their price target on shares of Globant from $204.00 to $207.00 in a report on Friday, May 19th. JPMorgan Chase & Co. decreased their price objective on Globant from $224.00 to $221.00 and set an “overweight” rating for the company in a report on Tuesday, February 14th. Needham & Company LLC initiated coverage on shares of Globant in a research report on Wednesday, April 12th. They issued a “buy” rating and a $205.00 target price for the company. Finally, Cowen dropped their target price on Globant from $207.00 to $192.00 in a report on Friday, February 17th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $216.44.

Globant Price Performance

Globant stock opened at $170.28 on Thursday. The firm’s 50 day simple moving average is $153.33 and its 200-day simple moving average is $164.07. Globant S.A. has a fifty-two week low of $135.40 and a fifty-two week high of $240.00. The company has a market cap of $7.23 billion, a P/E ratio of 49.21 and a beta of 1.41.

About Globant

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