Loomis Sayles & Co. L P Makes New Investment in Globant S.A. (NYSE:GLOB)

Loomis Sayles & Co. L P bought a new position in Globant S.A. (NYSE:GLOB) during the 3rd quarter, Holdings Channel reports. The institutional investor bought 42,621 shares of the information technology services provider’s stock, valued at approximately $8,445,000.

Several other hedge funds have also added to or reduced their stakes in GLOB. BOKF NA raised its stake in shares of Globant by 15,800.0% in the first quarter. BOKF NA now owns 159 shares of the information technology services provider’s stock worth $32,000 after purchasing an additional 158 shares during the last quarter. Quarry LP raised its stake in shares of Globant by 529.6% in the second quarter. Quarry LP now owns 170 shares of the information technology services provider’s stock worth $30,000 after purchasing an additional 143 shares during the last quarter. Ridgewood Investments LLC purchased a new position in shares of Globant in the second quarter worth $31,000. ORG Partners LLC raised its stake in shares of Globant by 65.5% in the third quarter. ORG Partners LLC now owns 192 shares of the information technology services provider’s stock worth $38,000 after purchasing an additional 76 shares during the last quarter. Finally, American National Bank & Trust raised its stake in shares of Globant by 430.2% in the third quarter. American National Bank & Trust now owns 228 shares of the information technology services provider’s stock worth $45,000 after purchasing an additional 185 shares during the last quarter. 91.60% of the stock is owned by institutional investors.

Globant Price Performance

Shares of GLOB stock opened at $229.55 on Thursday. The company has a market capitalization of $9.89 billion, a price-to-earnings ratio of 59.93, a PEG ratio of 2.85 and a beta of 1.39. The company’s fifty day moving average price is $212.97 and its 200-day moving average price is $193.24. Globant S.A. has a one year low of $151.68 and a one year high of $251.50.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Piper Sandler decreased their price target on Globant from $240.00 to $237.00 and set an “overweight” rating for the company in a research note on Friday, November 15th. Citigroup upped their price objective on Globant from $240.00 to $251.00 and gave the company a “buy” rating in a research report on Monday, October 28th. JPMorgan Chase & Co. upped their price objective on Globant from $237.00 to $248.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. KeyCorp upped their price objective on Globant from $220.00 to $235.00 and gave the company an “overweight” rating in a research report on Friday, August 16th. Finally, Canaccord Genuity Group reiterated a “hold” rating and set a $205.00 price objective on shares of Globant in a research report on Monday, November 18th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, Globant presently has an average rating of “Moderate Buy” and an average price target of $229.06.

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.