Itau Unibanco Holding S.A. Purchases 30,387 Shares of Globant S.A. (NYSE:GLOB)

Itau Unibanco Holding S.A. increased its holdings in Globant S.A. (NYSE:GLOB) by 3,414.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,277 shares of the information technology services provider’s stock after acquiring an additional 30,387 shares during the period. Itau Unibanco Holding S.A. owned about 0.07% of Globant worth $5,575,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of GLOB. Investidor Profissional Gestao de Recursos Ltda. bought a new position in Globant in the 2nd quarter valued at $3,364,000. Thrivent Financial for Lutherans boosted its holdings in shares of Globant by 29.7% in the 2nd quarter. Thrivent Financial for Lutherans now owns 83,525 shares of the information technology services provider’s stock worth $14,890,000 after buying an additional 19,128 shares during the last quarter. Sei Investments Co. grew its position in Globant by 43.4% during the second quarter. Sei Investments Co. now owns 512,916 shares of the information technology services provider’s stock valued at $91,432,000 after buying an additional 155,112 shares during the period. Benjamin F. Edwards & Company Inc. increased its holdings in Globant by 7.3% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,296 shares of the information technology services provider’s stock worth $409,000 after buying an additional 156 shares during the last quarter. Finally, XTX Topco Ltd bought a new stake in Globant in the second quarter worth about $804,000. 91.60% of the stock is owned by hedge funds and other institutional investors.

Globant Stock Down 2.3 %

Shares of NYSE GLOB opened at $189.10 on Friday. The stock’s 50-day simple moving average is $195.34 and its two-hundred day simple moving average is $186.95. Globant S.A. has a twelve month low of $151.68 and a twelve month high of $251.50. The firm has a market capitalization of $8.15 billion, a P/E ratio of 49.63, a P/E/G ratio of 2.49 and a beta of 1.40.

Globant (NYSE:GLOB) last posted its quarterly earnings data on Thursday, August 15th. The information technology services provider reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.01. Globant had a net margin of 7.39% and a return on equity of 11.68%. The company had revenue of $587.46 million for the quarter, compared to analysts’ expectations of $586.72 million. During the same period in the prior year, the business earned $1.04 earnings per share. Globant’s revenue for the quarter was up 18.1% compared to the same quarter last year. As a group, research analysts anticipate that Globant S.A. will post 5.01 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on GLOB shares. UBS Group reissued a “neutral” rating and set a $235.00 target price (up from $225.00) on shares of Globant in a research report on Tuesday, August 20th. StockNews.com downgraded Globant from a “hold” rating to a “sell” rating in a research report on Tuesday, August 27th. JPMorgan Chase & Co. boosted their target price on Globant from $226.00 to $237.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. The Goldman Sachs Group began coverage on Globant in a research note on Monday, June 24th. They set a “buy” rating and a $200.00 price target for the company. Finally, Jefferies Financial Group boosted their price objective on Globant from $235.00 to $240.00 and gave the company a “buy” rating in a research note on Monday, September 9th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, Globant presently has an average rating of “Moderate Buy” and an average target price of $222.90.

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.