Capital International Sarl Reduces Holdings in Globant S.A. (NYSE:GLOB)

Capital International Sarl lowered its stake in Globant S.A. (NYSE:GLOB) by 21.6% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,076 shares of the information technology services provider’s stock after selling 2,231 shares during the quarter. Capital International Sarl’s holdings in Globant were worth $1,631,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of GLOB. CWM LLC raised its holdings in shares of Globant by 13.5% in the fourth quarter. CWM LLC now owns 572 shares of the information technology services provider’s stock worth $136,000 after acquiring an additional 68 shares during the last quarter. Janney Capital Management LLC raised its holdings in shares of Globant by 3.1% in the fourth quarter. Janney Capital Management LLC now owns 2,538 shares of the information technology services provider’s stock worth $604,000 after acquiring an additional 76 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its holdings in shares of Globant by 3.9% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 2,140 shares of the information technology services provider’s stock worth $432,000 after acquiring an additional 81 shares during the last quarter. Envestnet Portfolio Solutions Inc. lifted its stake in shares of Globant by 1.0% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 9,205 shares of the information technology services provider’s stock valued at $2,191,000 after buying an additional 89 shares during the period. Finally, Handelsbanken Fonder AB boosted its position in Globant by 1.3% during the fourth quarter. Handelsbanken Fonder AB now owns 8,000 shares of the information technology services provider’s stock worth $1,904,000 after acquiring an additional 100 shares during the last quarter. Institutional investors and hedge funds own 91.60% of the company’s stock.

Globant Trading Down 2.3 %

GLOB stock traded down $4.45 during midday trading on Friday, hitting $192.62. 625,028 shares of the company’s stock were exchanged, compared to its average volume of 517,277. The stock has a market capitalization of $8.30 billion, a price-to-earnings ratio of 50.56, a price-to-earnings-growth ratio of 1.98 and a beta of 1.41. The firm has a 50 day moving average price of $173.56 and a 200-day moving average price of $197.34. Globant S.A. has a 12-month low of $151.68 and a 12-month high of $251.50.

Globant (NYSE:GLOB) last issued its quarterly earnings results on Thursday, May 16th. The information technology services provider reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.18 by $0.01. The business had revenue of $571.08 million during the quarter, compared to analyst estimates of $570.72 million. Globant had a net margin of 7.62% and a return on equity of 11.60%. On average, sell-side analysts forecast that Globant S.A. will post 5 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. KeyCorp cut their price target on Globant from $272.00 to $220.00 and set an “overweight” rating for the company in a report on Friday, May 17th. Canaccord Genuity Group decreased their price target on Globant from $230.00 to $175.00 and set a “hold” rating on the stock in a research note on Friday, May 17th. Wedbush dropped their price objective on shares of Globant from $250.00 to $200.00 and set an “outperform” rating for the company in a research note on Friday, May 17th. Needham & Company LLC restated a “buy” rating and issued a $200.00 target price on shares of Globant in a report on Thursday, June 13th. Finally, Redburn Atlantic started coverage on shares of Globant in a research note on Friday, May 24th. They set a “sell” rating and a $135.00 price target on the stock. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $216.72.

About Globant

Globant SA, together with its subsidiaries, provides technology services worldwide. It provides digital solutions comprising blockchain, cloud technologies, cybersecurity, data and artificial intelligence, digital experience and performance, code, Internet of Things, metaverse, and engineering and testing; and enterprise technology solutions and services, such as Agile organization, Cultural Hacking, process optimization services, as well as AWS, Google Cloud, Microsoft, Oracle, SalesForce, SAP, and ServiceNow technology solutions.