Mirabella Financial Services LLP Acquires Shares of 24,193 Globant S.A. (NYSE:GLOB)

Mirabella Financial Services LLP bought a new position in shares of Globant S.A. (NYSE:GLOB) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 24,193 shares of the information technology services provider’s stock, valued at approximately $4,761,000.

Other hedge funds have also modified their holdings of the company. Quarry LP boosted its position in shares of Globant by 529.6% during the 2nd quarter. Quarry LP now owns 170 shares of the information technology services provider’s stock valued at $30,000 after acquiring an additional 143 shares during the last quarter. Ridgewood Investments LLC acquired a new position in Globant in the second quarter valued at approximately $31,000. BOKF NA grew its position in 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 acquiring an additional 158 shares during the period. ORG Partners LLC increased its stake in Globant by 65.5% during the third quarter. ORG Partners LLC now owns 192 shares of the information technology services provider’s stock worth $38,000 after acquiring an additional 76 shares during the last quarter. Finally, American National Bank & Trust raised its position in Globant by 430.2% in the third quarter. American National Bank & Trust now owns 228 shares of the information technology services provider’s stock valued at $45,000 after purchasing an additional 185 shares during the period. 91.60% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have commented on GLOB shares. JPMorgan Chase & Co. upped their target price on shares of Globant from $237.00 to $248.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. UBS Group restated a “neutral” rating and issued a $235.00 price objective (up from $225.00) on shares of Globant in a report on Tuesday, August 20th. Piper Sandler dropped their target price on shares of Globant from $240.00 to $237.00 and set an “overweight” rating for the company in a report on Friday, November 15th. Deutsche Bank Aktiengesellschaft began coverage on Globant in a report on Thursday, August 22nd. They issued a “hold” rating and a $210.00 price objective on the stock. Finally, Citigroup increased their price objective on Globant from $240.00 to $251.00 and gave the company a “buy” rating in a research note on Monday, October 28th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, Globant currently has an average rating of “Moderate Buy” and an average price target of $229.06.

Globant Stock Performance

Shares of GLOB stock opened at $229.25 on Monday. The stock’s 50-day moving average is $210.75 and its two-hundred day moving average is $192.16. Globant S.A. has a 1 year low of $151.68 and a 1 year high of $251.50. The firm has a market cap of $9.88 billion, a price-to-earnings ratio of 59.86, a PEG ratio of 2.80 and a beta of 1.39.

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.