GAMMA Investing LLC Purchases 174 Shares of Globant S.A. (NYSE:GLOB)

GAMMA Investing LLC lifted its position in Globant S.A. (NYSE:GLOB) by 21.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 967 shares of the information technology services provider’s stock after acquiring an additional 174 shares during the quarter. GAMMA Investing LLC’s holdings in Globant were worth $207,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Quarry LP raised its holdings in shares of Globant by 529.6% in the 2nd quarter. Quarry LP now owns 170 shares of the information technology services provider’s stock valued at $30,000 after purchasing an additional 143 shares in the last quarter. ORG Partners LLC raised its stake in Globant by 65.5% in the third quarter. ORG Partners LLC now owns 192 shares of the information technology services provider’s stock worth $38,000 after buying an additional 76 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Globant during the third quarter worth $40,000. American National Bank & Trust boosted its position in Globant by 430.2% during the 3rd quarter. American National Bank & Trust now owns 228 shares of the information technology services provider’s stock valued at $45,000 after acquiring an additional 185 shares in the last quarter. Finally, Signaturefd LLC boosted its position in Globant by 46.0% during the 3rd quarter. Signaturefd LLC now owns 292 shares of the information technology services provider’s stock valued at $58,000 after acquiring an additional 92 shares in the last quarter. 91.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on GLOB. Needham & Company LLC upped their price objective on Globant from $245.00 to $265.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Piper Sandler lowered their price target on shares of Globant from $240.00 to $237.00 and set an “overweight” rating on the stock in a report on Friday, November 15th. Scotiabank boosted their price objective on shares of Globant from $210.00 to $220.00 and gave the stock a “sector perform” rating in a research note on Tuesday, November 19th. Susquehanna initiated coverage on shares of Globant in a research report on Tuesday, December 17th. They set a “positive” rating and a $255.00 target price for the company. Finally, JPMorgan Chase & Co. lifted their price target on shares of Globant from $237.00 to $248.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $230.44.

Globant Price Performance

Globant stock opened at $214.34 on Wednesday. The stock has a market capitalization of $9.24 billion, a PE ratio of 55.96, a price-to-earnings-growth ratio of 2.67 and a beta of 1.38. The business has a 50 day simple moving average of $221.28 and a 200-day simple moving average of $204.80. Globant S.A. has a 12 month low of $151.68 and a 12 month high of $251.50.

Globant Profile

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.