Axa boosted its stake in shares of Globant SA (NYSE:GLOB) by 29.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 167,400 shares of the information technology services provider’s stock after acquiring an additional 38,400 shares during the quarter. Axa owned about 0.48% of Globant worth $7,777,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently bought and sold shares of the business. Standard Life Aberdeen plc lifted its position in Globant by 215.9% during the 4th quarter. Standard Life Aberdeen plc now owns 1,012,353 shares of the information technology services provider’s stock worth $47,034,000 after acquiring an additional 691,866 shares during the period. RWC Asset Management LLP lifted its position in Globant by 81.1% during the 4th quarter. RWC Asset Management LLP now owns 781,389 shares of the information technology services provider’s stock worth $36,303,000 after acquiring an additional 349,973 shares during the period. Mackenzie Financial Corp lifted its position in Globant by 37.0% during the 4th quarter. Mackenzie Financial Corp now owns 587,619 shares of the information technology services provider’s stock worth $27,301,000 after acquiring an additional 158,800 shares during the period. Gilder Gagnon Howe & Co. LLC acquired a new stake in Globant during the 4th quarter worth approximately $19,372,000. Finally, Hood River Capital Management LLC acquired a new stake in Globant during the 4th quarter worth approximately $17,754,000. 68.19% of the stock is owned by institutional investors.
Several research firms have recently commented on GLOB. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $54.00 price target (up from $50.00) on shares of Globant in a report on Tuesday, February 20th. ValuEngine cut Globant from a “buy” rating to a “hold” rating in a report on Wednesday, March 7th. Zacks Investment Research raised Globant from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a report on Thursday, February 22nd. SunTrust Banks raised their price target on Globant to $52.00 and gave the company a “hold” rating in a report on Wednesday, February 21st. They noted that the move was a valuation call. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $36.00 price target (down from $42.00) on shares of Globant in a report on Friday, November 17th. One analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $49.57.
TRADEMARK VIOLATION WARNING: “Axa Buys 38,400 Shares of Globant SA (GLOB)” was first posted by American Banking News and is the property of of American Banking News. If you are viewing this article on another site, it was illegally stolen and reposted in violation of United States & international trademark and copyright laws. The original version of this article can be accessed at https://www.americanbankingnews.com/2018/03/14/axa-buys-38400-shares-of-globant-sa-glob.html.
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.
Want to see what other hedge funds are holding GLOB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Globant SA (NYSE:GLOB).
Receive News & Ratings for Globant Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Globant and related companies with MarketBeat.com's FREE daily email newsletter.