Rhumbline Advisers Purchases 3,451 Shares of Globant S.A. (NYSE:GLOB)

Rhumbline Advisers increased its position in Globant S.A. (NYSE:GLOB) by 8.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 46,820 shares of the information technology services provider’s stock after acquiring an additional 3,451 shares during the quarter. Rhumbline Advisers owned about 0.11% of Globant worth $7,679,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the company. Ridgewood Investments LLC bought a new position in shares of Globant during the 1st quarter worth about $29,000. Nisa Investment Advisors LLC increased its stake in Globant by 233.3% in the first quarter. Nisa Investment Advisors LLC now owns 200 shares of the information technology services provider’s stock valued at $33,000 after acquiring an additional 140 shares during the period. Belpointe Asset Management LLC bought a new stake in Globant in the fourth quarter valued at about $40,000. Clearstead Advisors LLC increased its stake in Globant by 1,566.7% in the first quarter. Clearstead Advisors LLC now owns 250 shares of the information technology services provider’s stock valued at $41,000 after acquiring an additional 235 shares during the period. Finally, Advisors Asset Management Inc. bought a new stake in Globant in the first quarter valued at about $72,000. Institutional investors own 91.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Citigroup upped their target price on shares of Globant from $185.00 to $215.00 in a research note on Tuesday, July 25th. TD Cowen reduced their price target on shares of Globant from $207.00 to $205.00 and set an “outperform” rating on the stock in a research report on Friday, August 18th. Needham & Company LLC restated a “buy” rating and issued a $205.00 price target on shares of Globant in a research report on Friday, August 18th. Wedbush restated an “outperform” rating and issued a $180.00 price target on shares of Globant in a research report on Friday, August 18th. Finally, StockNews.com upgraded shares of Globant from a “sell” rating to a “hold” rating in a research report on Thursday, August 24th. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $215.85.

Globant Trading Up 2.1 %

Shares of GLOB stock opened at $206.57 on Wednesday. The firm’s 50 day moving average is $182.41 and its 200-day moving average is $169.71. Globant S.A. has a 1 year low of $135.40 and a 1 year high of $232.19. The firm has a market capitalization of $8.73 billion, a price-to-earnings ratio of 60.05 and a beta of 1.32.

Globant Profile

Globant SA operates as a technology services company worldwide. The company 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.