Globant S.A. (NYSE:GLOB) Shares Acquired by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. boosted its stake in Globant S.A. (NYSE:GLOB) by 32.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 204,135 shares of the information technology services provider’s stock after purchasing an additional 49,597 shares during the quarter. Brown Brothers Harriman & Co. owned about 0.47% of Globant worth $40,447,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Globant by 7.9% in the first quarter. Vanguard Group Inc. now owns 112,339 shares of the information technology services provider’s stock valued at $22,681,000 after purchasing an additional 8,267 shares during the period. Cetera Investment Advisers grew its position in Globant by 1,079.8% in the first quarter. Cetera Investment Advisers now owns 20,140 shares of the information technology services provider’s stock valued at $4,066,000 after acquiring an additional 18,433 shares in the last quarter. Creative Planning raised its stake in shares of Globant by 20.5% during the third quarter. Creative Planning now owns 2,062 shares of the information technology services provider’s stock valued at $409,000 after purchasing an additional 351 shares during the period. Marshall Wace LLP acquired a new position in shares of Globant during the second quarter worth $1,319,000. Finally, PEAK6 Investments LLC acquired a new position in shares of Globant during the first quarter worth $858,000. Institutional investors and hedge funds own 91.60% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on GLOB. JPMorgan Chase & Co. lifted their price target on shares of Globant from $237.00 to $248.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft initiated coverage on Globant in a research report on Thursday, August 22nd. They set a “hold” rating and a $210.00 target price on the stock. Piper Sandler reduced their price target on Globant from $240.00 to $237.00 and set an “overweight” rating for the company in a report on Friday, November 15th. Canaccord Genuity Group restated a “hold” rating and set a $205.00 price objective on shares of Globant in a research note on Monday, November 18th. Finally, Citigroup upped their target price on Globant from $240.00 to $251.00 and gave the company a “buy” rating in a research report on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, Globant has an average rating of “Moderate Buy” and a consensus target price of $229.06.

Globant Stock Up 2.9 %

Shares of NYSE GLOB opened at $229.25 on Monday. The firm’s 50-day moving average price is $210.75 and its two-hundred day moving average price is $192.16. Globant S.A. has a 52-week low of $151.68 and a 52-week high of $251.50. The stock has a market capitalization of $9.88 billion, a P/E ratio of 59.86, a P/E/G ratio of 2.80 and a beta of 1.39.

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.