Investidor Profissional Gestao de Recursos Ltda. Decreases Stock Holdings in Globant S.A. (NYSE:GLOB)

Investidor Profissional Gestao de Recursos Ltda. lessened its holdings in Globant S.A. (NYSE:GLOB) by 89.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,356 shares of the information technology services provider’s stock after selling 35,239 shares during the quarter. Globant makes up about 0.5% of Investidor Profissional Gestao de Recursos Ltda.’s holdings, making the stock its 12th largest position. Investidor Profissional Gestao de Recursos Ltda.’s holdings in Globant were worth $934,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Centricity Wealth Management LLC purchased a new stake in shares of Globant during the 4th quarter worth approximately $38,000. Kestra Investment Management LLC purchased a new stake in Globant in the fourth quarter valued at $38,000. Wilmington Savings Fund Society FSB purchased a new stake in Globant in the third quarter valued at $40,000. Van Berkom & Associates Inc. acquired a new position in Globant in the fourth quarter valued at $45,000. Finally, Promus Capital LLC purchased a new position in shares of Globant during the fourth quarter worth about $64,000. 91.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GLOB has been the subject of a number of research analyst reports. Susquehanna initiated coverage on Globant in a research report on Tuesday, December 17th. They issued a “positive” rating and a $255.00 target price for the company. Redburn Atlantic raised 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 report on Tuesday, February 25th. StockNews.com lowered shares of Globant from a “hold” rating to a “sell” rating in a research report on Saturday, March 29th. Needham & Company LLC reiterated a “buy” rating and issued a $220.00 price target on shares of Globant in a research report on Wednesday, March 12th. Finally, UBS Group lowered their price objective on shares of Globant from $217.00 to $190.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, five have given a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Globant presently has an average rating of “Moderate Buy” and a consensus target price of $216.56.

Globant Price Performance

Shares of GLOB stock opened at $100.14 on Friday. The business’s fifty day moving average price is $164.90 and its 200 day moving average price is $197.37. The firm has a market capitalization of $4.41 billion, a PE ratio of 26.92, a P/E/G ratio of 2.38 and a beta of 1.47. Globant S.A. has a 1-year low of $96.93 and a 1-year high of $238.32.

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