15,819 Shares in Globant S.A. (NYSE:GLOB) Acquired by Entropy Technologies LP

Key Points

• Entropy Technologies LP has acquired a new position in Globant S.A., purchasing 15,819 shares valued at approximately $1.86 million during the first quarter of the year.
• Globant's stock has declined by 4.4%, with a current price of $74.53, significantly lower than its twelve-month high of $238.32.
• The company reported earnings of $1.50 per share for the last quarter, missing analysts' expectations and reflecting a 7.0% year-over-year revenue increase.

Entropy Technologies LP bought a new stake in shares of Globant S.A. (NYSE:GLOB - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 15,819 shares of the information technology services provider's stock, valued at approximately $1,862,000.

Several other institutional investors and hedge funds also recently bought and sold shares of GLOB. Vanguard Group Inc. boosted its holdings in Globant by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 115,147 shares of the information technology services provider's stock valued at $24,690,000 after purchasing an additional 2,744 shares during the period. Wells Fargo & Company MN boosted its holdings in Globant by 55.3% in the 4th quarter. Wells Fargo & Company MN now owns 63,672 shares of the information technology services provider's stock valued at $13,652,000 after purchasing an additional 22,671 shares during the period. FMR LLC boosted its holdings in Globant by 17.4% in the 4th quarter. FMR LLC now owns 554,086 shares of the information technology services provider's stock valued at $118,807,000 after purchasing an additional 82,309 shares during the period. Bank of Montreal Can boosted its holdings in Globant by 15.4% in the 4th quarter. Bank of Montreal Can now owns 24,974 shares of the information technology services provider's stock valued at $5,355,000 after purchasing an additional 3,332 shares during the period. Finally, Invesco Ltd. boosted its holdings in Globant by 90.5% in the 4th quarter. Invesco Ltd. now owns 109,356 shares of the information technology services provider's stock valued at $23,448,000 after purchasing an additional 51,945 shares during the period. 91.60% of the stock is owned by institutional investors.

Globant Stock Performance

GLOB stock traded up $1.07 during midday trading on Tuesday, reaching $75.64. 1,663,187 shares of the company's stock traded hands, compared to its average volume of 1,523,041. Globant S.A. has a 52-week low of $73.98 and a 52-week high of $238.32. The stock has a market cap of $3.33 billion, a P/E ratio of 22.38, a PEG ratio of 3.07 and a beta of 1.16. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.13. The stock's 50-day moving average is $89.07 and its 200 day moving average is $122.18.

Globant (NYSE:GLOB - Get Free Report) last announced its quarterly earnings data on Thursday, May 15th. The information technology services provider reported $1.50 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.58 by ($0.08). Globant had a return on equity of 11.08% and a net margin of 6.16%. The firm had revenue of $611.09 million during the quarter, compared to analysts' expectations of $622.18 million. During the same period last year, the company earned $1.53 earnings per share. The business's revenue for the quarter was up 7.0% on a year-over-year basis. As a group, analysts anticipate that Globant S.A. will post 5.73 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. The Goldman Sachs Group cut shares of Globant from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $225.00 to $120.00 in a research report on Friday, May 16th. Guggenheim restated a "buy" rating and set a $125.00 price objective on shares of Globant in a research report on Tuesday, June 10th. Piper Sandler cut shares of Globant from an "overweight" rating to a "neutral" rating and lowered their price objective for the company from $154.00 to $116.00 in a research report on Friday, May 16th. Scotiabank upgraded shares of Globant from a "sector perform" rating to a "sector outperform" rating and set a $115.00 price objective on the stock in a research report on Monday, July 21st. Finally, Wall Street Zen upgraded shares of Globant from a "sell" rating to a "hold" rating in a research report on Monday, May 19th. Seven research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $165.69.

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.