Capital International Sarl Sells 598 Shares of Globant S.A. (NYSE:GLOB)

Capital International Sarl trimmed its position in shares of Globant S.A. (NYSE:GLOB) by 3.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,756 shares of the information technology services provider’s stock after selling 598 shares during the period. Capital International Sarl’s holdings in Globant were worth $3,378,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of GLOB. Raymond James Financial Inc. bought a new position in Globant in the 4th quarter worth $16,737,000. Cullen Frost Bankers Inc. raised its stake in Globant by 5.0% in the fourth quarter. Cullen Frost Bankers Inc. now owns 52,934 shares of the information technology services provider’s stock worth $11,350,000 after buying an additional 2,505 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Globant by 8.6% during the 4th quarter. JPMorgan Chase & Co. now owns 2,572,080 shares of the information technology services provider’s stock valued at $551,506,000 after acquiring an additional 203,472 shares in the last quarter. NS Partners Ltd purchased a new position in shares of Globant during the 4th quarter worth approximately $18,933,000. Finally, Segall Bryant & Hamill LLC raised its position in shares of Globant by 364.7% in the 4th quarter. Segall Bryant & Hamill LLC now owns 118,065 shares of the information technology services provider’s stock worth $25,315,000 after acquiring an additional 92,661 shares in the last quarter. 91.60% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on GLOB. StockNews.com downgraded Globant from a “hold” rating to a “sell” rating in a report on Monday, April 14th. Needham & Company LLC reissued a “buy” rating and set a $220.00 price objective on shares of Globant in a research note on Wednesday, March 12th. Scotiabank decreased their target price on shares of Globant from $220.00 to $170.00 and set a “sector perform” rating for the company in a research note on Monday, February 24th. Canaccord Genuity Group dropped their price target on Globant from $205.00 to $165.00 and set a “hold” rating on the stock in a research report on Monday, February 24th. Finally, Piper Sandler reduced their price objective on Globant from $230.00 to $154.00 and set an “overweight” rating for the company in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $209.94.

Globant Stock Performance

GLOB opened at $105.69 on Friday. The company’s 50-day simple moving average is $139.24 and its two-hundred day simple moving average is $190.00. The stock has a market capitalization of $4.65 billion, a P/E ratio of 28.41, a P/E/G ratio of 2.38 and a beta of 1.50. Globant S.A. has a 52-week low of $96.23 and a 52-week high of $238.32.

Globant (NYSE:GLOB) last issued its quarterly earnings data on Thursday, February 20th. The information technology services provider reported $1.36 earnings per share for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.39). Globant had a net margin of 6.86% and a return on equity of 11.83%. The company had revenue of $642.48 million for the quarter, compared to the consensus estimate of $644.42 million. Research analysts forecast that Globant S.A. will post 5.73 EPS for the current fiscal year.

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.