Counterpoint Mutual Funds LLC Increases Stock Holdings in Globant S.A. $GLOB

Counterpoint Mutual Funds LLC increased its position in Globant S.A. (NYSE:GLOB) by 1,616.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 51,329 shares of the information technology services provider’s stock after acquiring an additional 48,338 shares during the quarter. Globant comprises about 0.2% of Counterpoint Mutual Funds LLC’s holdings, making the stock its 17th biggest holding. Counterpoint Mutual Funds LLC owned 0.12% of Globant worth $2,945,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of GLOB. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Globant in the 1st quarter valued at $447,000. Goldman Sachs Group Inc. boosted its stake in Globant by 69.3% during the first quarter. Goldman Sachs Group Inc. now owns 74,237 shares of the information technology services provider’s stock valued at $8,739,000 after buying an additional 30,386 shares during the period. CWM LLC grew its position in Globant by 30.1% during the second quarter. CWM LLC now owns 636 shares of the information technology services provider’s stock worth $58,000 after buying an additional 147 shares in the last quarter. State of New Jersey Common Pension Fund D increased its stake in Globant by 9.7% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 32,970 shares of the information technology services provider’s stock worth $2,995,000 after acquiring an additional 2,903 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd increased its stake in Globant by 141.2% in the 2nd quarter. Y Intercept Hong Kong Ltd now owns 34,809 shares of the information technology services provider’s stock worth $3,162,000 after acquiring an additional 20,376 shares during the last quarter. Institutional investors own 91.60% of the company’s stock.

Globant Stock Down 9.4%

Shares of NYSE GLOB opened at $41.51 on Tuesday. The firm’s fifty day moving average is $63.06 and its 200 day moving average is $62.86. Globant S.A. has a 52 week low of $41.45 and a 52 week high of $161.67. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 0.16. The company has a market cap of $1.83 billion, a price-to-earnings ratio of 18.78, a PEG ratio of 5.02 and a beta of 1.19.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Needham & Company LLC cut their price objective on Globant from $85.00 to $80.00 and set a “buy” rating for the company in a report on Friday, November 14th. JPMorgan Chase & Co. cut their price target on shares of Globant from $75.00 to $68.00 and set a “neutral” rating for the company in a research note on Wednesday, February 18th. Canaccord Genuity Group lowered their price objective on shares of Globant from $80.00 to $70.00 and set a “hold” rating on the stock in a research report on Friday, November 14th. Truist Financial initiated coverage on shares of Globant in a report on Tuesday, January 6th. They set a “hold” rating and a $72.00 price objective for the company. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Globant in a research note on Monday, December 29th. Six research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Globant has an average rating of “Hold” and an average target price of $93.56.

About Globant

Globant is a digitally native technology services company founded in 2003 in Buenos Aires, Argentina. Specializing in software development and digital transformation, Globant partners with enterprises to conceive, design and engineer software products and platforms. The company leverages agile methodologies and proprietary delivery frameworks to accelerate projects in areas such as cloud migration, user experience design, data analytics, artificial intelligence and blockchain-enabled solutions.

Globant’s service offerings span strategy consulting, custom software engineering, digital experience design and managed services.