Assetmark Inc. Buys 6,499 Shares of Globant S.A. (NYSE:GLOB)

Assetmark Inc. lifted its stake in shares of Globant S.A. (NYSE:GLOB) by 108,316.7% in the fourth quarter, HoldingsChannel.com reports. The fund owned 6,505 shares of the information technology services provider’s stock after acquiring an additional 6,499 shares during the quarter. Assetmark Inc.’s holdings in Globant were worth $1,395,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Centricity Wealth Management LLC purchased a new position in Globant in the 4th quarter worth $38,000. Kestra Investment Management LLC purchased a new position in Globant in the 4th quarter worth $38,000. Wilmington Savings Fund Society FSB purchased a new position in Globant in the 3rd quarter worth $40,000. Van Berkom & Associates Inc. purchased a new position in Globant in the 4th quarter worth $45,000. Finally, Van ECK Associates Corp raised its position in Globant by 62.4% in the 3rd quarter. Van ECK Associates Corp now owns 398 shares of the information technology services provider’s stock worth $86,000 after purchasing an additional 153 shares during the period. 91.60% of the stock is owned by institutional investors.

Globant Price Performance

NYSE:GLOB opened at $131.81 on Tuesday. Globant S.A. has a one year low of $130.06 and a one year high of $238.32. The company’s 50-day simple moving average is $197.90 and its 200 day simple moving average is $207.20. The firm has a market capitalization of $5.80 billion, a P/E ratio of 35.43, a PEG ratio of 2.38 and a beta of 1.47.

Globant (NYSE:GLOB) last posted its quarterly earnings data on Thursday, February 20th. The information technology services provider reported $1.36 EPS for the quarter, missing the consensus estimate of $1.75 by ($0.39). Globant had a return on equity of 11.83% and a net margin of 6.86%. The business had revenue of $642.48 million for the quarter, compared to the consensus estimate of $644.42 million. On average, equities research analysts expect that Globant S.A. will post 5.73 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

GLOB has been the topic of a number of analyst reports. Redburn Atlantic upgraded shares of Globant from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $140.00 to $150.00 in a research report on Tuesday, February 25th. Scotiabank decreased their price objective on shares of Globant from $220.00 to $170.00 and set a “sector perform” rating on the stock in a research report on Monday, February 24th. StockNews.com upgraded shares of Globant from a “sell” rating to a “hold” rating in a research report on Sunday, November 24th. JPMorgan Chase & Co. decreased their price objective on shares of Globant from $248.00 to $242.00 and set an “overweight” rating on the stock in a research report on Friday, February 21st. Finally, Needham & Company LLC decreased their price objective on shares of Globant from $265.00 to $220.00 and set a “buy” rating on the stock in a research report on Friday, February 21st. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Globant currently has an average rating of “Moderate Buy” and an average price target of $221.39.

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.