Globant SA (GLOB) Shares Bought by Prudential Financial Inc.
Prudential Financial Inc. increased its position in Globant SA (NYSE:GLOB) by 46.9% during the second quarter, Holdings Channel reports. The fund owned 148,250 shares of the company’s stock after buying an additional 47,300 shares during the period. Prudential Financial Inc. owned about 0.43% of Globant SA worth $5,834,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in GLOB. JPMorgan Chase & Co. increased its stake in Globant SA by 45.1% in the first quarter. JPMorgan Chase & Co. now owns 1,666,919 shares of the company’s stock worth $51,442,000 after buying an additional 518,466 shares during the last quarter. Wellington Management Group LLP increased its stake in Globant SA by 5.9% in the first quarter. Wellington Management Group LLP now owns 240,288 shares of the company’s stock worth $7,416,000 after buying an additional 13,448 shares during the last quarter. Adage Capital Partners GP L.L.C. bought a new stake in Globant SA during the first quarter worth about $5,863,000. Nationwide Fund Advisors increased its stake in Globant SA by 14.4% in the second quarter. Nationwide Fund Advisors now owns 96,867 shares of the company’s stock worth $3,812,000 after buying an additional 12,157 shares during the last quarter. Finally, Tygh Capital Management Inc. bought a new stake in Globant SA during the second quarter worth about $3,609,000. Institutional investors own 61.24% of the company’s stock.
Shares of Globant SA (NYSE:GLOB) opened at 43.92 on Wednesday. The firm has a market capitalization of $1.51 billion, a price-to-earnings ratio of 46.23 and a beta of 1.20. Globant SA has a 52-week low of $22.50 and a 52-week high of $44.95. The firm has a 50-day moving average of $40.92 and a 200 day moving average of $38.77.
Globant SA (NYSE:GLOB) last issued its quarterly earnings data on Wednesday, August 10th. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.01. The business earned $79.90 million during the quarter, compared to analyst estimates of $76.81 million. Globant SA had a net margin of 11.46% and a return on equity of 20.00%. The firm’s quarterly revenue was up 31.8% on a year-over-year basis. During the same quarter last year, the business earned $0.25 EPS. Analysts predict that Globant SA will post $1.19 EPS for the current year.
GLOB has been the topic of a number of recent research reports. Zacks Investment Research upgraded shares of Globant SA from a “sell” rating to a “hold” rating in a report on Wednesday, September 14th. Cantor Fitzgerald restated a “hold” rating and set a $43.00 price target on shares of Globant SA in a report on Wednesday, September 7th. Wedbush initiated coverage on shares of Globant SA in a report on Thursday, September 8th. They set an “outperform” rating and a $48.00 price target on the stock. TheStreet upgraded shares of Globant SA from a “hold” rating to a “buy” rating in a report on Monday, July 18th. Finally, JPMorgan Chase & Co. restated a “buy” rating and set a $28.00 price target on shares of Globant SA in a report on Tuesday, July 19th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company’s stock. Globant SA presently has an average rating of “Buy” and an average price target of $38.14.
Globant SA Company Profile
Globant SA is a digitally native technology services company. The Company’s principal operating subsidiary is based in Buenos Aires, Argentina. During the year ended December 31, 2015, 83.7% of its revenues were generated by clients in North America, 11.0% in Latin America and Asia, and 5.3% in Europe.
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