Loomis Sayles & Co. L P Makes New Investment in Globant S.A. (NYSE:GLOB)

Loomis Sayles & Co. L P bought a new position in Globant S.A. (NYSE:GLOB) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 42,621 shares of the information technology services provider’s stock, valued at approximately $8,445,000. Loomis Sayles & Co. L P owned 0.10% of Globant as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in GLOB. Victory Capital Management Inc. boosted its stake in Globant by 1,817.5% in the 3rd quarter. Victory Capital Management Inc. now owns 1,509,853 shares of the information technology services provider’s stock worth $299,162,000 after purchasing an additional 1,431,112 shares during the period. Manning & Napier Advisors LLC purchased a new stake in shares of Globant in the 2nd quarter valued at about $99,396,000. Dimensional Fund Advisors LP raised its holdings in shares of Globant by 57.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 442,312 shares of the information technology services provider’s stock valued at $78,851,000 after acquiring an additional 161,512 shares in the last quarter. Sei Investments Co. raised its holdings in shares of Globant by 43.4% in the 2nd quarter. Sei Investments Co. now owns 512,916 shares of the information technology services provider’s stock valued at $91,432,000 after acquiring an additional 155,112 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Globant by 89.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 266,184 shares of the information technology services provider’s stock valued at $47,450,000 after acquiring an additional 126,030 shares in the last quarter. Institutional investors own 91.60% of the company’s stock.

Globant Trading Down 0.6 %

Globant stock opened at $229.55 on Thursday. The business’s fifty day simple moving average is $212.97 and its two-hundred day simple moving average is $193.24. Globant S.A. has a 12 month low of $151.68 and a 12 month high of $251.50. The company has a market capitalization of $9.89 billion, a price-to-earnings ratio of 59.93, a price-to-earnings-growth ratio of 2.85 and a beta of 1.39.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on GLOB shares. KeyCorp raised their price objective on Globant from $220.00 to $235.00 and gave the company an “overweight” rating in a report on Friday, August 16th. JPMorgan Chase & Co. raised their price objective on Globant from $237.00 to $248.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Citigroup raised their price objective on Globant from $240.00 to $251.00 and gave the company a “buy” rating in a report on Monday, October 28th. Scotiabank raised their price objective on Globant from $210.00 to $220.00 and gave the company a “sector perform” rating in a report on Tuesday, November 19th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Globant in a research note on Thursday, August 22nd. They issued a “hold” rating and a $210.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, Globant has a consensus rating of “Moderate Buy” and an average target price of $229.06.

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.