Principal Financial Group Inc. Purchases 16,639 Shares of Globant S.A. (NYSE:GLOB)

Principal Financial Group Inc. increased its position in shares of Globant S.A. (NYSE:GLOB) by 121.3% during the third quarter, HoldingsChannel reports. The fund owned 30,351 shares of the information technology services provider’s stock after buying an additional 16,639 shares during the quarter. Principal Financial Group Inc.’s holdings in Globant were worth $6,014,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Oddo BHF Asset Management Sas bought a new stake in Globant during the 3rd quarter worth approximately $10,814,000. Franklin Resources Inc. grew its stake in shares of Globant by 0.6% in the third quarter. Franklin Resources Inc. now owns 12,800 shares of the information technology services provider’s stock worth $2,704,000 after purchasing an additional 71 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Globant in the third quarter valued at $40,000. Sanctuary Advisors LLC raised its position in Globant by 26.2% during the 3rd quarter. Sanctuary Advisors LLC now owns 3,312 shares of the information technology services provider’s stock worth $656,000 after purchasing an additional 688 shares during the last quarter. Finally, M&T Bank Corp lifted its holdings in Globant by 3.8% during the 3rd quarter. M&T Bank Corp now owns 1,641 shares of the information technology services provider’s stock worth $326,000 after buying an additional 60 shares during the period. Institutional investors and hedge funds own 91.60% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Canaccord Genuity Group restated a “hold” rating and set a $205.00 price objective on shares of Globant in a research report on Monday, November 18th. Needham & Company LLC raised their price target on shares of Globant from $245.00 to $265.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Citigroup increased their price objective on shares of Globant from $240.00 to $251.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. TD Cowen boosted their target price on shares of Globant from $230.00 to $240.00 and gave the company a “buy” rating in a report on Friday, November 15th. Finally, Piper Sandler cut their price target on shares of Globant from $240.00 to $237.00 and set an “overweight” rating on the stock in a research report on Friday, November 15th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, Globant currently has an average rating of “Moderate Buy” and a consensus price target of $230.44.

Globant Price Performance

Shares of NYSE GLOB opened at $214.42 on Thursday. The stock has a market capitalization of $9.24 billion, a PE ratio of 55.98, a P/E/G ratio of 2.72 and a beta of 1.37. Globant S.A. has a one year low of $151.68 and a one year high of $251.50. The business’s fifty day moving average price is $221.34 and its 200-day moving average price is $203.24.

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.