Bleakley Financial Group LLC Invests $608,000 in Globant S.A. (NYSE:GLOB)

Bleakley Financial Group LLC purchased a new stake in shares of Globant S.A. (NYSE:GLOB) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 2,835 shares of the information technology services provider’s stock, valued at approximately $608,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GLOB. Victory Capital Management Inc. boosted its holdings in shares of Globant by 1,817.5% during the 3rd quarter. Victory Capital Management Inc. now owns 1,509,853 shares of the information technology services provider’s stock valued at $299,162,000 after buying an additional 1,431,112 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Globant by 6.9% during the third quarter. JPMorgan Chase & Co. now owns 2,368,608 shares of the information technology services provider’s stock worth $469,316,000 after acquiring an additional 153,385 shares in the last quarter. abrdn plc grew its holdings in Globant by 36.7% in the fourth quarter. abrdn plc now owns 470,150 shares of the information technology services provider’s stock worth $101,564,000 after purchasing an additional 126,333 shares during the period. Wasatch Advisors LP increased its stake in shares of Globant by 2.6% during the third quarter. Wasatch Advisors LP now owns 3,480,129 shares of the information technology services provider’s stock valued at $689,553,000 after purchasing an additional 88,829 shares in the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of Globant during the third quarter valued at approximately $12,637,000. 91.60% of the stock is owned by hedge funds and other institutional investors.

Globant Stock Performance

Globant stock opened at $217.64 on Monday. Globant S.A. has a one year low of $151.68 and a one year high of $245.81. The stock has a fifty day moving average of $216.10 and a 200 day moving average of $209.27. The stock has a market cap of $9.38 billion, a PE ratio of 56.83, a price-to-earnings-growth ratio of 2.46 and a beta of 1.39.

Wall Street Analysts Forecast Growth

GLOB has been the topic of several recent research reports. Needham & Company LLC restated a “buy” rating and issued a $265.00 price target on shares of Globant in a research note on Friday, January 24th. Piper Sandler cut their target price on Globant from $240.00 to $237.00 and set an “overweight” rating on the stock in a research note on Friday, November 15th. JPMorgan Chase & Co. raised their price target on Globant from $237.00 to $248.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Jefferies Financial Group increased their price objective on shares of Globant from $240.00 to $255.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. Finally, StockNews.com upgraded shares of Globant from a “sell” rating to a “hold” rating in a research note on Sunday, November 24th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $230.28.

Globant Company 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.