Flossbach Von Storch AG Has $3.57 Million Holdings in Globant S.A. (NYSE:GLOB)

Flossbach Von Storch AG grew its stake in shares of Globant S.A. (NYSE:GLOB) by 25.0% in the 4th quarter, HoldingsChannel reports. The fund owned 15,000 shares of the information technology services provider’s stock after purchasing an additional 3,000 shares during the quarter. Flossbach Von Storch AG’s holdings in Globant were worth $3,570,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of GLOB. Norges Bank acquired a new stake in Globant during the fourth quarter worth approximately $71,313,000. Price T Rowe Associates Inc. MD raised its position in shares of Globant by 15.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,086,471 shares of the information technology services provider’s stock valued at $519,021,000 after buying an additional 416,119 shares in the last quarter. Invesco Ltd. raised its position in shares of Globant by 155.2% in the third quarter. Invesco Ltd. now owns 611,061 shares of the information technology services provider’s stock valued at $120,898,000 after buying an additional 371,628 shares in the last quarter. Wolf Hill Capital Management LP acquired a new stake in shares of Globant in the first quarter valued at approximately $50,388,000. Finally, Westfield Capital Management Co. LP acquired a new stake in shares of Globant in the first quarter valued at approximately $43,211,000. 91.60% of the stock is currently owned by institutional investors and hedge funds.

Globant Trading Up 0.5 %

Shares of GLOB traded up $0.92 on Thursday, reaching $183.07. The company’s stock had a trading volume of 55,666 shares, compared to its average volume of 450,734. Globant S.A. has a twelve month low of $135.40 and a twelve month high of $251.50. The stock has a market capitalization of $7.89 billion, a PE ratio of 50.17, a PEG ratio of 1.40 and a beta of 1.35. The firm has a fifty day moving average of $211.90 and a 200-day moving average of $212.93.

Globant (NYSE:GLOB) last posted its earnings results on Thursday, February 15th. The information technology services provider reported $1.26 earnings per share for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.08). Globant had a return on equity of 11.38% and a net margin of 7.56%. The business had revenue of $580.71 million during the quarter, compared to analyst estimates of $579.70 million. As a group, equities analysts anticipate that Globant S.A. will post 5.04 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on GLOB shares. Canaccord Genuity Group reiterated a “hold” rating and issued a $230.00 price target on shares of Globant in a research report on Tuesday, February 20th. Piper Sandler boosted their target price on shares of Globant from $257.00 to $290.00 and gave the stock an “overweight” rating in a research note on Friday, February 16th. Citigroup boosted their target price on shares of Globant from $215.00 to $275.00 and gave the stock a “buy” rating in a research note on Wednesday, January 17th. Wedbush reaffirmed an “outperform” rating and set a $250.00 target price on shares of Globant in a research note on Friday, February 16th. Finally, HSBC reduced their price objective on shares of Globant from $275.00 to $270.00 and set a “buy” rating on the stock in a research note on Wednesday, April 3rd. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $246.59.

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.