BlackRock Advisors LLC increased its stake in Globant SA (NYSE:GLOB) by 114.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 137,615 shares of the company’s stock after buying an additional 73,522 shares during the period. BlackRock Advisors LLC owned 0.40% of Globant SA worth $5,415,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of GLOB. Geode Capital Management LLC boosted its position in Globant SA by 8.5% in the first quarter. Geode Capital Management LLC now owns 16,370 shares of the company’s stock valued at $505,000 after buying an additional 1,280 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Globant SA by 45.1% in the first quarter. JPMorgan Chase & Co. now owns 1,666,919 shares of the company’s stock valued at $51,442,000 after buying an additional 518,466 shares in the last quarter. Prudential Financial Inc. boosted its position in Globant SA by 1,395.6% in the first quarter. Prudential Financial Inc. now owns 100,950 shares of the company’s stock valued at $3,115,000 after buying an additional 94,200 shares in the last quarter. Adage Capital Partners GP L.L.C. purchased a new position in Globant SA during the first quarter valued at $5,863,000. Finally, Global X Management Co. LLC boosted its position in Globant SA by 35.1% in the second quarter. Global X Management Co. LLC now owns 74,675 shares of the company’s stock valued at $2,938,000 after buying an additional 19,388 shares in the last quarter. 61.24% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Globant SA (NYSE:GLOB) opened at 43.69 on Monday. Globant SA has a 12 month low of $22.50 and a 12 month high of $44.95. The firm’s 50-day moving average price is $41.24 and its 200-day moving average price is $38.94. The company has a market capitalization of $1.50 billion, a price-to-earnings ratio of 45.99 and a beta of 1.19.
Globant SA (NYSE:GLOB) last issued its quarterly earnings data on Wednesday, August 10th. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.01. The company earned $79.90 million during the quarter, compared to analyst estimates of $76.81 million. Globant SA had a return on equity of 20.00% and a net margin of 11.46%. The firm’s revenue for the quarter was up 31.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.25 earnings per share. Equities research analysts expect that Globant SA will post $1.19 EPS for the current year.
GLOB has been the subject of several research analyst reports. Citigroup Inc. raised their price target on Globant SA from $41.00 to $48.50 and gave the company a “buy” rating in a report on Thursday, August 11th. JPMorgan Chase & Co. restated a “buy” rating and set a $28.00 price target on shares of Globant SA in a report on Tuesday, July 19th. Pacific Crest started coverage on Globant SA in a report on Tuesday, July 12th. They issued a “sector weight” rating for the company. Zacks Investment Research upgraded Globant SA from a “sell” rating to a “hold” rating in a report on Tuesday, August 23rd. Finally, Cantor Fitzgerald reiterated a “hold” rating and issued a $35.00 target price on shares of Globant SA in a report on Wednesday, June 29th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $40.14.
About Globant SA
Globant SA is a digitally native technology services company. The Company’s principal operating subsidiary is based in Buenos Aires, Argentina. During the year ended December 31, 2015, 83.7% of its revenues were generated by clients in North America, 11.0% in Latin America and Asia, and 5.3% in Europe.