JPMorgan Chase & Co. Buys 153,385 Shares of Globant S.A. (NYSE:GLOB)

JPMorgan Chase & Co. increased its stake in Globant S.A. (NYSE:GLOB) by 6.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,368,608 shares of the information technology services provider’s stock after buying an additional 153,385 shares during the period. JPMorgan Chase & Co. owned 0.05% of Globant worth $469,316,000 as of its most recent SEC filing.

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

Globant Price Performance

Shares of Globant stock opened at $217.60 on Friday. The stock has a market cap of $9.38 billion, a PE ratio of 56.81, a price-to-earnings-growth ratio of 2.72 and a beta of 1.37. The firm has a fifty day moving average price of $221.61 and a 200 day moving average price of $202.09. Globant S.A. has a 1 year low of $151.68 and a 1 year high of $251.50.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on GLOB. JPMorgan Chase & Co. lifted 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. 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. Citigroup increased their price target on shares of Globant from $240.00 to $251.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Scotiabank lifted their price objective 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. Finally, StockNews.com upgraded shares of Globant from a “sell” rating to a “hold” rating in a research note on Sunday, November 24th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $230.44.

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.