Trading Report: The Northpointe Capital LLC decides to keep it stake in Globant SA (GLOB) to the level of $439,000

The Northpointe Capital LLC decides to keep it stake in Globant SA (GLOB) to the level of $439,000

Northpointe Capital LLC continued to hold its position in Globant SA (NYSE:GLOB) during the second quarter, Holdings Channel reports. The fund owned 11,154 shares of the company’s stock at the end of the second quarter. Northpointe Capital LLC’s holdings in Globant SA were worth $439,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. 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 worth $3,115,000 after buying an additional 94,200 shares in the last quarter. BlackRock Inc. boosted its position in Globant SA by 20.0% in the first quarter. BlackRock Inc. now owns 44,624 shares of the company’s stock worth $1,377,000 after buying an additional 7,447 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 worth $51,442,000 after buying an additional 518,466 shares in the last quarter. UBS Group AG boosted its position in Globant SA by 190.1% in the first quarter. UBS Group AG now owns 17,420 shares of the company’s stock worth $538,000 after buying an additional 11,415 shares in the last quarter. Finally, 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 worth $505,000 after buying an additional 1,280 shares in the last quarter. Hedge funds and other institutional investors own 61.22% of the company’s stock.

Shares of Globant SA (NYSE:GLOB) traded up 0.02% during mid-day trading on Friday, reaching $43.99. The company had a trading volume of 96,122 shares. Globant SA has a 12-month low of $22.50 and a 12-month high of $44.81. The stock has a 50 day moving average price of $40.61 and a 200 day moving average price of $38.41. The firm has a market capitalization of $1.51 billion, a PE ratio of 46.31 and a beta of 1.20.

Globant SA (NYSE:GLOB) last released its quarterly earnings results on Wednesday, August 10th. The company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.01. Globant SA had a return on equity of 20.00% and a net margin of 11.46%. The firm had revenue of $79.90 million for the quarter, compared to analysts’ expectations of $76.81 million. During the same quarter last year, the firm posted $0.25 EPS. The company’s revenue was up 31.8% compared to the same quarter last year. On average, equities analysts forecast that Globant SA will post $1.19 earnings per share for the current year.

A number of research analysts have issued reports on GLOB shares. Cantor Fitzgerald reiterated a “hold” rating and issued a $35.00 target price on shares of Globant SA in a research report on Wednesday, June 29th. Pacific Crest started coverage on Globant SA in a research report on Tuesday, July 12th. They issued a “sector weight” rating on the stock. Zacks Investment Research cut Globant SA from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 12th. 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. Finally, TheStreet upgraded Globant SA from a “hold” rating to a “buy” rating in a report on Monday, July 18th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $38.14.

Globant SA Company Profile

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.

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