TrinityPoint Wealth LLC Invests $208,000 in Globant S.A. (NYSE:GLOB)

TrinityPoint Wealth LLC acquired a new position in shares of Globant S.A. (NYSE:GLOB) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,048 shares of the information technology services provider’s stock, valued at approximately $208,000.

Several other large investors have also bought and sold shares of the business. Equitable Trust Co. raised its holdings in Globant by 1.1% in the 3rd quarter. Equitable Trust Co. now owns 4,550 shares of the information technology services provider’s stock valued at $902,000 after buying an additional 50 shares during the last quarter. 17 Capital Partners LLC raised its stake in shares of Globant by 1.6% during the second quarter. 17 Capital Partners LLC now owns 3,455 shares of the information technology services provider’s stock valued at $616,000 after acquiring an additional 55 shares during the last quarter. ORG Partners LLC raised its stake in shares of Globant by 65.5% during the third quarter. ORG Partners LLC now owns 192 shares of the information technology services provider’s stock valued at $38,000 after acquiring an additional 76 shares during the last quarter. Signaturefd LLC lifted its holdings in shares of Globant by 46.0% during the third quarter. Signaturefd LLC now owns 292 shares of the information technology services provider’s stock worth $58,000 after purchasing an additional 92 shares during the period. Finally, Parkside Financial Bank & Trust grew its stake in shares of Globant by 6.3% in the second quarter. Parkside Financial Bank & Trust now owns 1,977 shares of the information technology services provider’s stock worth $352,000 after purchasing an additional 118 shares during the last quarter. 91.60% of the stock is owned by institutional investors and hedge funds.

Globant Stock Performance

Shares of Globant stock opened at $204.09 on Tuesday. The stock has a market capitalization of $8.79 billion, a PE ratio of 53.29, a price-to-earnings-growth ratio of 2.49 and a beta of 1.39. Globant S.A. has a 52 week low of $151.68 and a 52 week high of $251.50. The stock has a 50 day moving average price of $208.98 and a two-hundred day moving average price of $191.19.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on GLOB. KeyCorp raised their target price on Globant from $220.00 to $235.00 and gave the stock an “overweight” rating in a research report on Friday, August 16th. Scotiabank upped their target price on Globant from $200.00 to $210.00 and gave the company a “sector perform” rating in a report on Wednesday, August 21st. Needham & Company LLC increased their target price on shares of Globant from $245.00 to $265.00 and gave the company a “buy” rating in a research report on Friday. StockNews.com downgraded shares of Globant from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Globant in a research report on Thursday, August 22nd. They set a “hold” rating and a $210.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $228.50.

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.