Price T Rowe Associates Inc. MD Cuts Stock Position in Globant S.A. (NYSE:GLOB)

Price T Rowe Associates Inc. MD decreased its position in shares of Globant S.A. (NYSE:GLOB) by 10.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,434,654 shares of the information technology services provider’s stock after selling 515,386 shares during the period. Price T Rowe Associates Inc. MD owned 10.29% of Globant worth $950,880,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of GLOB. SIH Partners LLLP acquired a new position in shares of Globant during the fourth quarter worth $552,000. Stifel Financial Corp grew its stake in Globant by 10.4% during the 4th quarter. Stifel Financial Corp now owns 46,962 shares of the information technology services provider’s stock worth $10,070,000 after buying an additional 4,433 shares during the last quarter. OneDigital Investment Advisors LLC increased its position in Globant by 23.7% during the 4th quarter. OneDigital Investment Advisors LLC now owns 1,811 shares of the information technology services provider’s stock valued at $388,000 after buying an additional 347 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in Globant by 262.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 562 shares of the information technology services provider’s stock valued at $121,000 after buying an additional 407 shares during the last quarter. Finally, MML Investors Services LLC boosted its holdings in Globant by 30.4% in the fourth quarter. MML Investors Services LLC now owns 8,359 shares of the information technology services provider’s stock worth $1,792,000 after acquiring an additional 1,947 shares in the last quarter. Hedge funds and other institutional investors own 91.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on GLOB. Redburn Atlantic raised shares of Globant from a “sell” rating to a “neutral” rating and increased their price objective for the company from $140.00 to $150.00 in a research report on Tuesday, February 25th. JPMorgan Chase & Co. decreased their price target on shares of Globant from $248.00 to $242.00 and set an “overweight” rating for the company in a report on Friday, February 21st. Needham & Company LLC reissued a “buy” rating and set a $220.00 price objective on shares of Globant in a report on Wednesday, March 12th. StockNews.com downgraded Globant from a “hold” rating to a “sell” rating in a research report on Monday, April 14th. Finally, Scotiabank lowered their price target on Globant from $220.00 to $170.00 and set a “sector perform” rating for the company in a research report on Monday, February 24th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Globant currently has an average rating of “Moderate Buy” and a consensus target price of $205.88.

Globant Stock Performance

GLOB stock opened at $112.26 on Thursday. Globant S.A. has a one year low of $96.23 and a one year high of $238.32. The firm’s fifty day moving average is $132.24 and its 200 day moving average is $188.14. The firm has a market cap of $4.94 billion, a PE ratio of 30.18, a P/E/G ratio of 2.38 and a beta of 1.50.

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

Globant Company Profile

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.