Ameriprise Financial Inc. Reduces Holdings in Globant S.A. $GLOB

Key Points

• Ameriprise Financial Inc. reduced its holdings in Globant S.A. by 11.3% during the first quarter, now owning 497,404 shares worth approximately $58.55 million.
• Other institutional investors are increasing their stakes, with Principal Financial Group Inc. and Dalton Investments Inc. boosting their positions by 6.8% and 58.6% respectively.
• Globant recently reported earnings of $1.53 EPS, slightly above analysts' expectations, with a revenue increase of 4.5% year-over-year.

Ameriprise Financial Inc. cut its stake in shares of Globant S.A. (NYSE:GLOB - Free Report) by 11.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 497,404 shares of the information technology services provider's stock after selling 63,343 shares during the quarter. Ameriprise Financial Inc. owned about 1.13% of Globant worth $58,554,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Banco BTG Pactual S.A. purchased a new stake in Globant in the first quarter valued at $1,001,000. T. Rowe Price Investment Management Inc. boosted its holdings in Globant by 73.7% in the first quarter. T. Rowe Price Investment Management Inc. now owns 549,328 shares of the information technology services provider's stock valued at $64,667,000 after purchasing an additional 233,145 shares during the last quarter. Hsbc Holdings PLC boosted its holdings in Globant by 9.1% in the first quarter. Hsbc Holdings PLC now owns 64,029 shares of the information technology services provider's stock valued at $7,493,000 after purchasing an additional 5,344 shares during the last quarter. Quantbot Technologies LP purchased a new stake in Globant in the first quarter valued at $974,000. Finally, Northern Trust Corp boosted its holdings in Globant by 5.3% in the first quarter. Northern Trust Corp now owns 158,671 shares of the information technology services provider's stock valued at $18,679,000 after purchasing an additional 8,036 shares during the last quarter. 91.60% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on GLOB. Scotiabank raised shares of Globant from a "sector perform" rating to a "sector outperform" rating and set a $115.00 target price on the stock in a research note on Monday, July 21st. Piper Sandler downgraded shares of Globant from an "overweight" rating to a "neutral" rating and reduced their price target for the stock from $154.00 to $116.00 in a research report on Friday, May 16th. Mizuho set a $153.00 price target on shares of Globant and gave the stock an "outperform" rating in a research report on Monday, May 19th. The Goldman Sachs Group reduced their price target on shares of Globant from $120.00 to $105.00 and set a "neutral" rating for the company in a research report on Monday, August 18th. Finally, Wall Street Zen upgraded shares of Globant from a "sell" rating to a "hold" rating in a research report on Monday, May 19th. Eight investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $139.47.

Globant Price Performance

GLOB stock traded down $3.04 during mid-day trading on Tuesday, reaching $64.22. The company's stock had a trading volume of 1,733,890 shares, compared to its average volume of 1,905,480. The stock has a market cap of $2.83 billion, a PE ratio of 26.11, a P/E/G ratio of 2.98 and a beta of 1.17. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 0.19. Globant S.A. has a fifty-two week low of $62.98 and a fifty-two week high of $238.32. The company's 50 day moving average is $81.24 and its two-hundred day moving average is $106.98.

Globant (NYSE:GLOB - Get Free Report) last released its quarterly earnings data on Thursday, August 14th. The information technology services provider reported $1.53 EPS for the quarter, beating analysts' consensus estimates of $1.52 by $0.01. The company had revenue of $614.18 million during the quarter, compared to the consensus estimate of $612.66 million. Globant had a net margin of 4.44% and a return on equity of 10.76%. Globant's quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.51 EPS. Globant has set its Q3 2025 guidance at 1.530- EPS. FY 2025 guidance at 6.120- EPS. Equities research analysts expect that Globant S.A. will post 5.73 EPS for the current 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.