Globant S.A. (NYSE:GLOB) Shares Bought by Millennium Management LLC

Millennium Management LLC grew its holdings in shares of Globant S.A. (NYSE:GLOB) by 84.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 261,270 shares of the information technology services provider’s stock after buying an additional 119,860 shares during the quarter. Millennium Management LLC owned 0.61% of Globant worth $46,574,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Wasatch Advisors LP raised its stake in Globant by 6.8% during the first quarter. Wasatch Advisors LP now owns 3,336,764 shares of the information technology services provider’s stock valued at $673,693,000 after buying an additional 213,049 shares in the last quarter. Capital International Investors raised its position in shares of Globant by 0.5% during the 4th quarter. Capital International Investors now owns 1,323,859 shares of the information technology services provider’s stock valued at $315,052,000 after acquiring an additional 6,707 shares in the last quarter. Manning & Napier Advisors LLC bought a new position in Globant during the second quarter worth $99,396,000. Sei Investments Co. boosted its holdings in Globant by 43.4% in the second quarter. Sei Investments Co. now owns 512,916 shares of the information technology services provider’s stock worth $91,432,000 after purchasing an additional 155,112 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in Globant by 57.5% during the second quarter. Dimensional Fund Advisors LP now owns 442,312 shares of the information technology services provider’s stock valued at $78,851,000 after purchasing an additional 161,512 shares during the last quarter. Institutional investors and hedge funds own 91.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on GLOB shares. Jefferies Financial Group lifted their price target on shares of Globant from $235.00 to $240.00 and gave the company a “buy” rating in a report on Monday, September 9th. Citigroup increased their price target on Globant from $215.00 to $220.00 and gave the stock a “buy” rating in a research report on Friday, July 12th. JPMorgan Chase & Co. boosted their price objective on Globant from $226.00 to $237.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. UBS Group reaffirmed a “neutral” rating and issued a $235.00 target price (up from $225.00) on shares of Globant in a research report on Tuesday, August 20th. Finally, Needham & Company LLC boosted their price target on shares of Globant from $200.00 to $245.00 and gave the company a “buy” rating in a report on Friday, August 16th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $222.90.

Globant Stock Performance

Shares of NYSE GLOB opened at $196.69 on Wednesday. Globant S.A. has a 1 year low of $151.68 and a 1 year high of $251.50. The firm has a market cap of $8.47 billion, a P/E ratio of 51.62, a PEG ratio of 2.38 and a beta of 1.40. The stock has a fifty day moving average price of $195.40 and a two-hundred day moving average price of $185.86.

Globant (NYSE:GLOB) last announced its earnings results on Thursday, August 15th. The information technology services provider reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.01. Globant had a return on equity of 11.68% and a net margin of 7.39%. The business had revenue of $587.46 million during the quarter, compared to analysts’ expectations of $586.72 million. During the same quarter last year, the business posted $1.04 earnings per share. The company’s quarterly revenue was up 18.1% on a year-over-year basis. On average, research analysts predict that Globant S.A. will post 5.02 earnings per share for the current fiscal year.

About Globant

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.