Deutsche Bank AG increased its holdings in Globant S.A. (NYSE:GLOB – Get Rating) by 19.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 277,450 shares of the information technology services provider’s stock after purchasing an additional 45,265 shares during the period. Deutsche Bank AG owned approximately 0.66% of Globant worth $46,656,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. Private Advisor Group LLC lifted its position in Globant by 5.2% during the 1st quarter. Private Advisor Group LLC now owns 1,283 shares of the information technology services provider’s stock worth $336,000 after acquiring an additional 63 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in Globant by 29.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,476 shares of the information technology services provider’s stock worth $910,000 after acquiring an additional 792 shares during the last quarter. Vanguard Group Inc. lifted its position in Globant by 86.9% during the 1st quarter. Vanguard Group Inc. now owns 141,141 shares of the information technology services provider’s stock worth $36,988,000 after acquiring an additional 65,635 shares during the last quarter. Loomis Sayles & Co. L P lifted its position in Globant by 22.2% during the 1st quarter. Loomis Sayles & Co. L P now owns 468 shares of the information technology services provider’s stock worth $123,000 after acquiring an additional 85 shares during the last quarter. Finally, Zions Bancorporation N.A. lifted its position in Globant by 36.6% during the 1st quarter. Zions Bancorporation N.A. now owns 2,718 shares of the information technology services provider’s stock worth $712,000 after acquiring an additional 728 shares during the last quarter. 93.01% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of research analysts have weighed in on GLOB shares. Piper Sandler boosted their target price on shares of Globant from $204.00 to $207.00 in a research report on Friday, May 19th. Needham & Company LLC began coverage on shares of Globant in a research report on Wednesday, April 12th. They set a “buy” rating and a $205.00 price objective for the company. JPMorgan Chase & Co. cut their price objective on shares of Globant from $224.00 to $221.00 and set an “overweight” rating for the company in a research report on Tuesday, February 14th. KeyCorp cut their price objective on shares of Globant from $211.00 to $201.00 in a research report on Friday, May 19th. Finally, Cowen cut their price objective on shares of Globant from $207.00 to $192.00 in a research report on Friday, February 17th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $216.44.
Globant Stock Up 2.9 %
About Globant
Globant SA engages in the provision of information technology services. It includes application development, testing, infrastructure management, and application maintenance. The company was founded by Martín Migoya, Martín Gonzalo Umaran, Guibert Andrés Englebienne, and Néstor Augusto Nocetti in 2003 and is headquartered in Luxembourg.
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