Centiva Capital LP Raises Position in Globant S.A. (NYSE:GLOB)

Centiva Capital LP grew its position in shares of Globant S.A. (NYSE:GLOB - Free Report) by 74.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,795 shares of the information technology services provider's stock after purchasing an additional 3,327 shares during the quarter. Centiva Capital LP's holdings in Globant were worth $1,671,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in GLOB. JPMorgan Chase & Co. raised its position in shares of Globant by 8.6% during the fourth quarter. JPMorgan Chase & Co. now owns 2,572,080 shares of the information technology services provider's stock worth $551,506,000 after acquiring an additional 203,472 shares during the last quarter. Capital International Investors lifted its position in shares of Globant by 13.1% in the 4th quarter. Capital International Investors now owns 1,700,519 shares of the information technology services provider's stock worth $364,723,000 after purchasing an additional 197,064 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Globant by 6.4% in the 4th quarter. Victory Capital Management Inc. now owns 1,606,110 shares of the information technology services provider's stock valued at $344,382,000 after purchasing an additional 96,257 shares during the last quarter. Jennison Associates LLC increased its position in shares of Globant by 0.6% during the fourth quarter. Jennison Associates LLC now owns 802,547 shares of the information technology services provider's stock worth $172,082,000 after buying an additional 4,970 shares during the period. Finally, Sei Investments Co. raised its stake in Globant by 3.5% during the fourth quarter. Sei Investments Co. now owns 602,802 shares of the information technology services provider's stock worth $129,252,000 after buying an additional 20,365 shares during the last quarter. 91.60% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on GLOB shares. Scotiabank decreased their price target on Globant from $170.00 to $140.00 and set a "sector perform" rating for the company in a report on Tuesday, April 29th. JPMorgan Chase & Co. dropped their price target on Globant from $248.00 to $242.00 and set an "overweight" rating on the stock in a research note on Friday, February 21st. Piper Sandler reduced their price objective on shares of Globant from $230.00 to $154.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. StockNews.com lowered shares of Globant from a "hold" rating to a "sell" rating in a research note on Sunday. Finally, Susquehanna decreased their price target on shares of Globant from $225.00 to $160.00 and set a "positive" rating for the company in a research note on Wednesday, April 23rd. 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, Globant has an average rating of "Moderate Buy" and an average price target of $204.00.

Globant Stock Down 1.1 %

NYSE GLOB traded down $1.46 on Friday, reaching $128.83. The company had a trading volume of 717,833 shares, compared to its average volume of 609,683. The stock has a market capitalization of $5.67 billion, a P/E ratio of 34.63, a P/E/G ratio of 2.38 and a beta of 1.37. The company's fifty day moving average is $119.65 and its 200 day moving average is $180.25. Globant S.A. has a 52-week low of $96.23 and a 52-week high of $238.32.

Globant (NYSE:GLOB - Get Free Report) last released its quarterly earnings results 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 firm had revenue of $642.48 million for the quarter, compared to the consensus estimate of $644.42 million. On average, research analysts expect that Globant S.A. will post 5.73 EPS for the current year.

Globant 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.