Atria Investments LLC Grows Stock Holdings in Globant S.A. (NYSE:GLOB)

Atria Investments LLC raised its position in shares of Globant S.A. (NYSE:GLOB – Get Rating) by 1.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,386 shares of the information technology services provider’s stock after purchasing an additional 71 shares during the period. Atria Investments LLC’s holdings in Globant were worth $1,936,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Ieq Capital LLC bought a new position in shares of Globant during the first quarter valued at about $213,000. Advisor Group Holdings Inc. grew its stake in shares of Globant by 16.4% during the fourth quarter. Advisor Group Holdings Inc. now owns 18,009 shares of the information technology services provider’s stock valued at $5,654,000 after buying an additional 2,538 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of Globant during the fourth quarter valued at about $151,568,000. Foundry Partners LLC grew its stake in shares of Globant by 30.1% during the fourth quarter. Foundry Partners LLC now owns 1,893 shares of the information technology services provider’s stock valued at $595,000 after buying an additional 438 shares during the last quarter. Finally, ARK Investment Management LLC bought a new position in shares of Globant during the fourth quarter valued at about $195,000. Hedge funds and other institutional investors own 88.21% of the company’s stock.

Globant Price Performance

Shares of GLOB opened at $194.55 on Monday. Globant S.A. has a one year low of $159.56 and a one year high of $354.62. The company has a 50-day simple moving average of $186.02 and a two-hundred day simple moving average of $222.54. The firm has a market capitalization of $8.15 billion, a PE ratio of 74.26 and a beta of 1.51.

Globant (NYSE:GLOB – Get Rating) last issued its quarterly earnings data on Thursday, May 19th. The information technology services provider reported $0.98 EPS for the quarter, topping the consensus estimate of $0.93 by $0.05. Globant had a net margin of 7.77% and a return on equity of 10.98%. The business had revenue of $401.38 million during the quarter, compared to analyst estimates of $397.41 million. During the same period last year, the business posted $0.66 earnings per share. Globant’s quarterly revenue was up 48.6% compared to the same quarter last year. Analysts expect that Globant S.A. will post 3.86 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on GLOB. StockNews.com began coverage on Globant in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Piper Sandler raised their price objective on Globant from $223.00 to $231.00 and gave the company an “overweight” rating in a research note on Monday, July 18th. TheStreet cut Globant from a “b-” rating to a “c+” rating in a research note on Thursday, May 5th. Cowen cut their target price on Globant from $305.00 to $240.00 and set an “outperform” rating on the stock in a research note on Friday, May 20th. Finally, Citigroup cut their target price on Globant from $350.00 to $265.00 and set a “buy” rating on the stock in a research note on Friday, May 20th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $283.38.

About Globant

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Globant SA operates as a technology services company worldwide. It offers e-commerce, new distribution capabilities, augmented revenue management, hyper connected operation, and conversational user experience services through reinvention studios; digital lending, commercial effectiveness, finance, sustainability, regulation analytic, transformation and post-merger integration, and payment and open banking services; and game and graphic engineering, UI and UX design, game as a service, DevOps, and online services, as well as high tech tools.