Envestnet Portfolio Solutions Inc. Purchases 701 Shares of Globant S.A. (NYSE:GLOB)

Envestnet Portfolio Solutions Inc. lifted its position in shares of Globant S.A. (NYSE:GLOB) by 8.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,337 shares of the information technology services provider’s stock after purchasing an additional 701 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Globant were worth $2,002,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Choate Investment Advisors bought a new stake in shares of Globant during the fourth quarter valued at approximately $245,000. Natixis Advisors LLC boosted its position in shares of Globant by 7.4% during the fourth quarter. Natixis Advisors LLC now owns 14,469 shares of the information technology services provider’s stock valued at $3,102,000 after purchasing an additional 1,001 shares in the last quarter. Jupiter Asset Management Ltd. boosted its position in shares of Globant by 1.1% during the fourth quarter. Jupiter Asset Management Ltd. now owns 69,483 shares of the information technology services provider’s stock valued at $14,899,000 after purchasing an additional 780 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Globant by 3,513.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 831 shares of the information technology services provider’s stock valued at $178,000 after purchasing an additional 808 shares in the last quarter. Finally, HighTower Advisors LLC boosted its position in shares of Globant by 13.3% during the fourth quarter. HighTower Advisors LLC now owns 6,483 shares of the information technology services provider’s stock valued at $1,390,000 after purchasing an additional 759 shares in the last quarter. 91.60% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

GLOB has been the topic of several analyst reports. Susquehanna initiated coverage on Globant in a report on Tuesday, December 17th. They issued a “positive” rating and a $255.00 target price on the stock. JPMorgan Chase & Co. dropped their target price on Globant from $248.00 to $242.00 and set an “overweight” rating on the stock in a report on Friday, February 21st. Piper Sandler dropped their target price on Globant from $237.00 to $230.00 and set an “overweight” rating on the stock in a report on Friday, February 21st. StockNews.com raised Globant from a “sell” rating to a “hold” rating in a report on Sunday, November 24th. Finally, Redburn Atlantic raised Globant from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $140.00 to $150.00 in a report on Tuesday, February 25th. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, Globant has an average rating of “Moderate Buy” and an average price target of $219.71.

Globant Stock Performance

Globant stock opened at $128.89 on Friday. The stock has a market cap of $5.67 billion, a PE ratio of 34.65, a price-to-earnings-growth ratio of 2.38 and a beta of 1.47. Globant S.A. has a one year low of $124.53 and a one year high of $238.32. The stock has a fifty day moving average of $184.75 and a 200 day moving average of $203.34.

Globant (NYSE:GLOB) last posted its quarterly earnings data on Thursday, February 20th. The information technology services provider reported $1.36 EPS for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.39). The firm had revenue of $642.48 million for the quarter, compared to analysts’ expectations of $644.42 million. Globant had a net margin of 6.86% and a return on equity of 11.83%. As a group, sell-side analysts predict that Globant S.A. will post 5.73 EPS for the current fiscal year.

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.