Natixis Advisors LLC Increases Stock Holdings in Globant S.A. (NYSE:GLOB)

Natixis Advisors LLC boosted its position in shares of Globant S.A. (NYSE:GLOB) by 30.4% in the 3rd quarter, Holdings Channel.com reports. The fund owned 13,468 shares of the information technology services provider’s stock after purchasing an additional 3,142 shares during the period. Natixis Advisors LLC’s holdings in Globant were worth $2,669,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Victory Capital Management Inc. raised its holdings in shares of Globant by 1,817.5% in 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 acquiring an additional 1,431,112 shares in the last quarter. Manning & Napier Advisors LLC bought a new stake in Globant during the second quarter valued at approximately $99,396,000. Sei Investments Co. grew its stake in Globant by 43.4% in the 2nd quarter. Sei Investments Co. now owns 512,916 shares of the information technology services provider’s stock worth $91,432,000 after buying an additional 155,112 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Globant by 57.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 442,312 shares of the information technology services provider’s stock worth $78,851,000 after buying an additional 161,512 shares in the last quarter. Finally, Clearbridge Investments LLC increased its holdings in shares of Globant by 28.4% in the 2nd quarter. Clearbridge Investments LLC now owns 339,790 shares of the information technology services provider’s stock worth $60,571,000 after buying an additional 75,192 shares during the last quarter. Institutional investors own 91.60% of the company’s stock.

Globant Stock Performance

Shares of GLOB opened at $229.25 on Monday. Globant S.A. has a fifty-two week low of $151.68 and a fifty-two week high of $251.50. The firm’s 50-day simple moving average is $210.75 and its two-hundred day simple moving average is $192.16. The stock has a market cap of $9.88 billion, a PE ratio of 59.86, a price-to-earnings-growth ratio of 2.72 and a beta of 1.39.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Scotiabank upped their target price on shares of Globant from $210.00 to $220.00 and gave the stock a “sector perform” rating in a research report on Tuesday, November 19th. StockNews.com upgraded Globant from a “sell” rating to a “hold” rating in a report on Sunday. JPMorgan Chase & Co. raised their price objective on Globant from $237.00 to $248.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. KeyCorp upped their target price on Globant from $220.00 to $235.00 and gave the stock an “overweight” rating in a research note on Friday, August 16th. Finally, Canaccord Genuity Group reissued a “hold” rating and set a $205.00 price target on shares of Globant in a research note on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $229.06.

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.