Top 5 Stock Picks of Teresa Barger’s Cartica Management

2. Globant S.A. (NYSE:GLOB)

Cartica Management’s Stake Value: $45,276,000
Percentage of Cartica Management’s Portfolio: 12.98%
Number of Hedge Fund Holders: 31

Globant S.A. (NYSE:GLOB) offers global technology services. Ken Fisher’s Fisher Asset Management was the biggest stakeholder of Globant S.A. (NYSE:GLOB) as of the end of March this year, holding 952,083 shares worth almost $249.51 million.

On May 20, Cowen analyst Bryan Bergin maintained an Outperform rating on Globant S.A. (NYSE:GLOB) while trimming his price objective from $305 to $240. Despite macro market concerns, the analyst said they delivered good first-quarter performance and highlighted a record pipeline as evidence.

Securities filings reveal that Cartica Management trimmed its stake in Globant S.A. (NYSE:GLOB) by 9% during the first quarter of 2022. The fund owned 172,762 shares of Globant S.A. (NYSE:GLOB) worth over $45.28 million, representing 12.98% of the portfolio. According to Insider Monkey’s Q1 data, 31 hedge funds were bullish on Globant S.A. (NYSE:GLOB), up from 26 funds in the earlier quarter.

Baron Funds, an asset management firm, in its first-quarter 2022 investor letter, mentioned Globant S.A. (NYSE:GLOB). Here is what the fund said:

“We also initiated a position in Globant, S.A., a provider of outsourced software development, design, and digital marketing services for business customers. Globant helps companies such as Disney (NYSE:DIS), Electronic Arts (NASDAQ:EA), and Banco Santander (NYSE:SAN) pursue digital transformations using a highly skilled workforce of over 23,000 software engineers and consultants primarily based in Latin America. These employees are trained in the latest technologies, including cloud infrastructure, cybersecurity, data analytics, artificial intelligence, digital marketing, enterprise software platforms, blockchain, connected devices, and metaverse. The company was founded in 2003 by four friends in Argentina who still run the company, including Chairman and CEO Martín Migoya. Globant serves over 1,100 customers across a variety of sectors, but its largest vertical is financial services. The company helps financial institutions adopt digital lending practices, improve operational efficiency, optimize risk management practices, comply with changing regulations, and launch new payment and open banking solutions…. “(Click here to read the full text)”