Verition Fund Management LLC Makes New $1.01 Million Investment in Globant S.A. (NYSE:GLOB)

Verition Fund Management LLC acquired a new stake in Globant S.A. (NYSE:GLOB) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 5,091 shares of the information technology services provider’s stock, valued at approximately $1,009,000.

Other large investors have also made changes to their positions in the company. Victory Capital Management Inc. grew its stake in 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 during the period. Dimensional Fund Advisors LP grew its position in shares of Globant by 57.5% in the second quarter. Dimensional Fund Advisors LP now owns 442,312 shares of the information technology services provider’s stock valued at $78,851,000 after purchasing an additional 161,512 shares during the period. Sei Investments Co. increased its stake in shares of Globant by 43.4% during the second quarter. Sei Investments Co. now owns 512,916 shares of the information technology services provider’s stock worth $91,432,000 after purchasing an additional 155,112 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Globant by 89.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 266,184 shares of the information technology services provider’s stock worth $47,450,000 after purchasing an additional 126,030 shares during the last quarter. Finally, Millennium Management LLC raised its position in shares of Globant by 84.8% during the 2nd quarter. Millennium Management LLC now owns 261,270 shares of the information technology services provider’s stock worth $46,574,000 after purchasing an additional 119,860 shares during the last quarter. 91.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GLOB has been the subject of several research reports. Jefferies Financial Group boosted their price objective on Globant from $235.00 to $240.00 and gave the stock a “buy” rating in a research note on Monday, September 9th. Citigroup lifted their target price on shares of Globant from $240.00 to $251.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. TD Cowen increased their target price on shares of Globant from $230.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Canaccord Genuity Group restated a “hold” rating and set a $205.00 price target on shares of Globant in a research report on Monday, November 18th. Finally, KeyCorp increased their price objective on shares of Globant from $220.00 to $235.00 and gave the company an “overweight” rating in a report on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, Globant presently has a consensus rating of “Moderate Buy” and an average price target of $229.00.

Globant Trading Up 3.4 %

NYSE GLOB opened at $229.73 on Monday. The stock has a market cap of $9.90 billion, a PE ratio of 59.98, a P/E/G ratio of 2.78 and a beta of 1.37. Globant S.A. has a twelve month low of $151.68 and a twelve month high of $251.50. The stock has a fifty day simple moving average of $217.41 and a 200-day simple moving average of $195.96.

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.