Globant S.A. (NYSE:GLOB) Shares Sold by FourThought Financial Partners LLC

FourThought Financial Partners LLC reduced its stake in shares of Globant S.A. (NYSE:GLOB) by 3.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,740 shares of the information technology services provider’s stock after selling 58 shares during the quarter. FourThought Financial Partners LLC’s holdings in Globant were worth $414,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. CI Investments Inc. lifted its position in Globant by 122.0% in the 3rd quarter. CI Investments Inc. now owns 131 shares of the information technology services provider’s stock valued at $26,000 after acquiring an additional 72 shares in the last quarter. GAMMA Investing LLC bought a new stake in Globant during the 4th quarter valued at $68,000. CWM LLC boosted its position in Globant by 13.5% during the 4th quarter. CWM LLC now owns 572 shares of the information technology services provider’s stock valued at $136,000 after acquiring an additional 68 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Globant by 68,900.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 690 shares of the information technology services provider’s stock worth $164,000 after acquiring an additional 689 shares during the last quarter. Finally, Beaumont Financial Advisors LLC purchased a new position in Globant in the 4th quarter worth $201,000. Institutional investors own 91.60% of the company’s stock.

Globant Stock Up 1.1 %

Shares of NYSE GLOB traded up $2.06 during midday trading on Monday, reaching $187.61. 127,679 shares of the company were exchanged, compared to its average volume of 440,934. The stock’s 50-day moving average price is $199.92 and its 200-day moving average price is $211.79. The stock has a market cap of $8.08 billion, a P/E ratio of 51.12, a PEG ratio of 1.40 and a beta of 1.35. Globant S.A. has a one year low of $135.40 and a one year high of $251.50.

Globant (NYSE:GLOB) last announced its quarterly earnings data on Thursday, February 15th. The information technology services provider reported $1.26 earnings per share for the quarter, missing the consensus estimate of $1.34 by ($0.08). Globant had a net margin of 7.56% and a return on equity of 11.38%. The company had revenue of $580.71 million for the quarter, compared to analyst estimates of $579.70 million. On average, equities research analysts anticipate that Globant S.A. will post 5.03 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on GLOB shares. Piper Sandler lifted their price target on shares of Globant from $257.00 to $290.00 and gave the company an “overweight” rating in a report on Friday, February 16th. Guggenheim started coverage on shares of Globant in a research note on Tuesday, March 19th. They set a “buy” rating and a $250.00 price objective on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Globant from $273.00 to $257.00 and set an “overweight” rating on the stock in a research note on Thursday. HSBC lowered their target price on Globant from $275.00 to $270.00 and set a “buy” rating on the stock in a research note on Wednesday, April 3rd. Finally, KeyCorp increased their price objective on Globant from $266.00 to $272.00 and gave the stock an “overweight” rating in a report on Friday, February 16th. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $244.35.

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.