Duality Advisers LP Buys 1,195 Shares of Globant S.A. (NYSE:GLOB)
Duality Advisers LP increased its stake in shares of Globant S.A. (NYSE:GLOB – Get Rating) by 34.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,646 shares of the information technology services provider’s stock after buying an additional 1,195 shares during the quarter. Duality Advisers LP’s holdings in Globant were worth $869,000 at the end of the most recent reporting period.
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Several other hedge funds and other institutional investors also recently made changes to their positions in GLOB. JPMorgan Chase & Co. increased its stake in shares of Globant by 77.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 3,377,320 shares of the information technology services provider’s stock valued at $587,653,000 after buying an additional 1,469,846 shares during the period. Pendal Group Ltd acquired a new stake in shares of Globant in the 3rd quarter valued at $256,020,000. Martin Currie Ltd. acquired a new stake in shares of Globant during the second quarter worth $45,844,000. Thornburg Investment Management Inc. grew its stake in shares of Globant by 6,384.6% during the second quarter. Thornburg Investment Management Inc. now owns 187,406 shares of the information technology services provider’s stock worth $32,609,000 after purchasing an additional 184,516 shares during the period. Finally, Sands Capital Management LLC grew its stake in shares of Globant by 11.7% during the second quarter. Sands Capital Management LLC now owns 1,497,727 shares of the information technology services provider’s stock worth $260,604,000 after purchasing an additional 156,312 shares during the period. 93.01% of the stock is owned by institutional investors and hedge funds.
Globant Price Performance
Shares of Globant stock opened at $170.38 on Tuesday. Globant S.A. has a one year low of $154.40 and a one year high of $286.63. The firm has a market cap of $7.14 billion, a price-to-earnings ratio of 52.42 and a beta of 1.40. The stock’s 50-day moving average is $172.53 and its 200-day moving average is $188.99.
Globant (NYSE:GLOB – Get Rating) last released its earnings results on Thursday, November 17th. The information technology services provider reported $0.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.05 by ($0.07). Globant had a return on equity of 11.76% and a net margin of 8.31%. The company had revenue of $458.88 million for the quarter, compared to the consensus estimate of $457.30 million. On average, equities analysts expect that Globant S.A. will post 4.08 EPS for the current year.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently commented on GLOB shares. KeyCorp decreased their price objective on Globant from $291.00 to $232.00 and set an “overweight” rating for the company in a research note on Friday, November 18th. StockNews.com started coverage on Globant in a research note on Wednesday, October 12th. They set a “hold” rating for the company. JPMorgan Chase & Co. lifted their price objective on Globant from $223.00 to $224.00 in a research note on Thursday, December 15th. Cowen decreased their target price on Globant from $210.00 to $207.00 and set an “outperform” rating for the company in a research note on Friday, November 18th. Finally, The Goldman Sachs Group decreased their target price on Globant from $290.00 to $250.00 and set a “buy” rating for the company in a research note on Thursday, September 29th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $231.13.
Globant SA operates as a technology services company worldwide. It offers e-commerce, new distribution capabilities, augmented revenue management, hyper connected operation, and conversational user experience services through reinvention studios; digital lending, commercial effectiveness, finance, sustainability, regulation analytic, transformation and post-merger integration, and payment and open banking services; and game and graphic engineering, UI and UX design, game as a service, DevOps, and online services, as well as high tech tools.
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