Globant S.A. (NYSE:GLOB) Shares Sold by Captrust Financial Advisors

Captrust Financial Advisors lowered its position in shares of Globant S.A. (NYSE:GLOB - Free Report) by 50.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,421 shares of the information technology services provider's stock after selling 3,445 shares during the quarter. Captrust Financial Advisors' holdings in Globant were worth $734,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Balyasny Asset Management L.P. grew its position in Globant by 220.4% in the 4th quarter. Balyasny Asset Management L.P. now owns 100,479 shares of the information technology services provider's stock worth $21,545,000 after purchasing an additional 69,122 shares during the period. Baird Financial Group Inc. boosted its stake in shares of Globant by 18.9% in the fourth quarter. Baird Financial Group Inc. now owns 354,928 shares of the information technology services provider's stock worth $76,104,000 after acquiring an additional 56,467 shares during the period. Bank of America Corp DE increased its holdings in Globant by 7.5% in the 4th quarter. Bank of America Corp DE now owns 440,039 shares of the information technology services provider's stock valued at $94,353,000 after acquiring an additional 30,785 shares during the last quarter. Benjamin Edwards Inc. increased its holdings in shares of Globant by 4.8% in the fourth quarter. Benjamin Edwards Inc. now owns 3,320 shares of the information technology services provider's stock worth $712,000 after purchasing an additional 151 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its stake in Globant by 5.1% during the fourth quarter. Ameriprise Financial Inc. now owns 560,747 shares of the information technology services provider's stock valued at $120,235,000 after purchasing an additional 27,140 shares in the last quarter. Institutional investors own 91.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on GLOB. JPMorgan Chase & Co. reduced their target price on shares of Globant from $248.00 to $242.00 and set an "overweight" rating on the stock in a research note on Friday, February 21st. UBS Group lowered their price target on Globant from $217.00 to $190.00 and set a "neutral" rating for the company in a report on Wednesday, February 26th. Mizuho reduced their price objective on Globant from $194.00 to $153.00 and set an "outperform" rating on the stock in a report on Monday. Jefferies Financial Group upped their target price on Globant from $240.00 to $255.00 and gave the stock a "buy" rating in a report on Tuesday, January 21st. Finally, Needham & Company LLC dropped their price target on Globant from $130.00 to $115.00 and set a "buy" rating on the stock in a research report on Friday, May 16th. Eight investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $179.19.

Globant Trading Down 3.4%

Shares of GLOB stock traded down $3.64 during trading hours on Wednesday, hitting $102.89. The company's stock had a trading volume of 754,176 shares, compared to its average volume of 678,720. The stock has a market cap of $4.53 billion, a PE ratio of 27.65, a price-to-earnings-growth ratio of 2.38 and a beta of 1.37. Globant S.A. has a 12-month low of $88.03 and a 12-month high of $238.32. The company has a 50 day moving average of $117.70 and a 200 day moving average of $175.72.

Globant (NYSE:GLOB - Get Free Report) last posted its quarterly earnings results on Thursday, May 15th. The information technology services provider reported $1.50 EPS for the quarter, missing the consensus estimate of $1.58 by ($0.08). The business had revenue of $611.09 million during the quarter, compared to analysts' expectations of $622.18 million. Globant had a net margin of 6.86% and a return on equity of 11.83%. Globant's revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.53 earnings per share. As a group, analysts anticipate 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.