The Manufacturers Life Insurance Company Boosts Position in Globant S.A. (NYSE:GLOB)

The Manufacturers Life Insurance Company grew its position in Globant S.A. (NYSE:GLOB) by 18.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 316,506 shares of the information technology services provider’s stock after buying an additional 50,322 shares during the quarter. The Manufacturers Life Insurance Company owned 0.73% of Globant worth $62,712,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Equitable Trust Co. increased its holdings in Globant by 1.1% during the 3rd quarter. Equitable Trust Co. now owns 4,550 shares of the information technology services provider’s stock valued at $902,000 after acquiring an additional 50 shares in the last quarter. 17 Capital Partners LLC raised its position in shares of Globant by 1.6% during the 2nd quarter. 17 Capital Partners LLC now owns 3,455 shares of the information technology services provider’s stock worth $616,000 after purchasing an additional 55 shares during the last quarter. ORG Partners LLC lifted its stake in Globant by 65.5% in the 3rd quarter. ORG Partners LLC now owns 192 shares of the information technology services provider’s stock valued at $38,000 after buying an additional 76 shares in the last quarter. Signaturefd LLC grew its holdings in Globant by 46.0% during the 3rd quarter. Signaturefd LLC now owns 292 shares of the information technology services provider’s stock valued at $58,000 after buying an additional 92 shares during the last quarter. Finally, Parkside Financial Bank & Trust increased its position in Globant by 6.3% during the second quarter. Parkside Financial Bank & Trust now owns 1,977 shares of the information technology services provider’s stock worth $352,000 after buying an additional 118 shares in the last quarter. Institutional investors and hedge funds own 91.60% of the company’s stock.

Globant Trading Down 0.6 %

Shares of Globant stock opened at $229.55 on Thursday. The company has a fifty day moving average price of $212.97 and a 200 day moving average price of $193.24. Globant S.A. has a twelve month low of $151.68 and a twelve month high of $251.50. The stock has a market cap 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.

Analysts Set New Price Targets

Several brokerages recently weighed in on GLOB. JPMorgan Chase & Co. boosted their target price on shares of Globant from $237.00 to $248.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. UBS Group reissued a “neutral” rating and set a $235.00 price objective (up previously from $225.00) on shares of Globant in a research note on Tuesday, August 20th. Scotiabank lifted their target price on shares of Globant from $210.00 to $220.00 and gave the stock a “sector perform” rating in a research note on Tuesday, November 19th. Jefferies Financial Group boosted their price target on Globant from $235.00 to $240.00 and gave the company a “buy” rating in a report on Monday, September 9th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Globant in a report on Thursday, August 22nd. They set a “hold” rating and a $210.00 price objective on the stock. One analyst has rated the stock with a sell rating, seven have issued 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 an average target price of $229.06.

Globant Company 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.