Charles Schwab Investment Management Inc. Purchases 2,470 Shares of Globant S.A. (NYSE:GLOB)

Charles Schwab Investment Management Inc. boosted its position in Globant S.A. (NYSE:GLOBFree Report) by 6.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,970 shares of the information technology services provider’s stock after buying an additional 2,470 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.10% of Globant worth $9,988,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its stake in Globant by 3.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,614,782 shares of the information technology services provider’s stock valued at $319,485,000 after purchasing an additional 49,812 shares during the last quarter. Jennison Associates LLC boosted its stake in shares of Globant by 289.5% in the 4th quarter. Jennison Associates LLC now owns 960,833 shares of the information technology services provider’s stock worth $228,659,000 after buying an additional 714,162 shares during the last quarter. Schroder Investment Management Group boosted its stake in shares of Globant by 16.2% in the 3rd quarter. Schroder Investment Management Group now owns 734,479 shares of the information technology services provider’s stock worth $145,317,000 after buying an additional 102,184 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Globant by 36.7% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 705,090 shares of the information technology services provider’s stock worth $167,797,000 after buying an additional 189,204 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Globant by 155.2% in the 3rd quarter. Invesco Ltd. now owns 611,061 shares of the information technology services provider’s stock worth $120,898,000 after buying an additional 371,628 shares during the last quarter. Institutional investors and hedge funds own 91.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on GLOB. Citigroup cut their target price on Globant from $235.00 to $215.00 and set a “buy” rating on the stock in a research note on Friday, May 17th. Mizuho dropped their price objective on Globant from $279.00 to $252.00 and set a “buy” rating on the stock in a research note on Wednesday, May 22nd. Redburn Atlantic initiated coverage on Globant in a research note on Friday, May 24th. They issued a “sell” rating and a $135.00 price objective on the stock. Wedbush dropped their price objective on Globant from $250.00 to $200.00 and set an “outperform” rating on the stock in a research note on Friday, May 17th. Finally, JPMorgan Chase & Co. dropped their price objective on Globant from $273.00 to $257.00 and set an “overweight” rating on the stock in a research note on Thursday, May 2nd. One analyst has rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, Globant presently has a consensus rating of “Moderate Buy” and a consensus price target of $217.94.

View Our Latest Analysis on Globant

Globant Stock Performance

NYSE:GLOB opened at $160.35 on Friday. The firm has a market capitalization of $6.91 billion, a price-to-earnings ratio of 42.09, a P/E/G ratio of 1.28 and a beta of 1.35. Globant S.A. has a 52-week low of $158.81 and a 52-week high of $251.50. The stock has a fifty day moving average of $184.33 and a 200 day moving average of $210.93.

About Globant

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Globant (NYSE:GLOB)

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