Principal Financial Group Inc. Has $27.06 Million Stock Holdings in Globant S.A. (NYSE:GLOB)

Principal Financial Group Inc. increased its position in shares of Globant S.A. (NYSE:GLOB) by 315.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 126,199 shares of the information technology services provider’s stock after buying an additional 95,848 shares during the quarter. Principal Financial Group Inc. owned 0.29% of Globant worth $27,060,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in GLOB. Wilmington Savings Fund Society FSB acquired a new stake in Globant during the third quarter worth about $40,000. Signaturefd LLC grew its position in 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 buying an additional 92 shares in the last quarter. Van ECK Associates Corp grew its position in Globant by 62.4% during the third quarter. Van ECK Associates Corp now owns 398 shares of the information technology services provider’s stock worth $86,000 after buying an additional 153 shares in the last quarter. Blue Trust Inc. grew its position in Globant by 4,810.0% during the fourth quarter. Blue Trust Inc. now owns 491 shares of the information technology services provider’s stock worth $105,000 after buying an additional 481 shares in the last quarter. Finally, PUREfi Wealth LLC acquired a new stake in Globant during the fourth quarter worth about $205,000. 91.60% of the stock is owned by institutional investors and hedge funds.

Globant Trading Down 27.7 %

Shares of NYSE GLOB opened at $152.02 on Friday. The firm has a market cap of $6.55 billion, a PE ratio of 40.86, a PEG ratio of 2.38 and a beta of 1.39. Globant S.A. has a 1-year low of $151.38 and a 1-year high of $238.32. The company has a fifty day moving average price of $214.07 and a 200 day moving average price of $210.61.

Globant (NYSE:GLOB) last issued its quarterly earnings results on Thursday, February 20th. The information technology services provider reported $1.36 EPS for the quarter, missing the consensus estimate of $1.75 by ($0.39). Globant had a return on equity of 11.83% and a net margin of 6.86%. The business had revenue of $642.48 million for the quarter, compared to the consensus estimate of $644.42 million. Equities research analysts forecast that Globant S.A. will post 5.73 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on GLOB shares. Piper Sandler decreased their target price on Globant from $237.00 to $230.00 and set an “overweight” rating on the stock in a research report on Friday. Needham & Company LLC decreased their price objective on Globant from $265.00 to $220.00 and set a “buy” rating on the stock in a report on Friday. StockNews.com raised Globant from a “sell” rating to a “hold” rating in a report on Sunday, November 24th. Scotiabank lifted their price objective on Globant from $210.00 to $220.00 and gave the company a “sector perform” rating in a report on Tuesday, November 19th. Finally, Canaccord Genuity Group reaffirmed a “hold” rating and set a $205.00 price objective on shares of Globant in a report on Monday, November 18th. One analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, Globant has an average rating of “Moderate Buy” and a consensus target price of $227.06.

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.