Ameriprise Financial Inc. Has $58.55 Million Stock 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. lessened its holdings in shares of Globant S.A. (NYSE:GLOB - Free Report) by 11.3% in the first quarter, according to its most recent filing with the SEC. The firm owned 497,404 shares of the information technology services provider's stock after selling 63,343 shares during the period. Ameriprise Financial Inc. owned 1.13% of Globant worth $58,554,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Principal Financial Group Inc. boosted its position in shares of Globant by 6.8% during the first quarter. Principal Financial Group Inc. now owns 134,798 shares of the information technology services provider's stock worth $15,868,000 after purchasing an additional 8,599 shares in the last quarter. Cetera Investment Advisers boosted its position in shares of Globant by 23.7% during the first quarter. Cetera Investment Advisers now owns 24,926 shares of the information technology services provider's stock worth $2,934,000 after purchasing an additional 4,774 shares in the last quarter. Dalton Investments Inc. boosted its position in shares of Globant by 58.6% during the first quarter. Dalton Investments Inc. now owns 31,654 shares of the information technology services provider's stock worth $3,726,000 after purchasing an additional 11,700 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Globant by 15.2% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,493 shares of the information technology services provider's stock worth $2,648,000 after purchasing an additional 2,967 shares in the last quarter. Finally, Stephens Investment Management Group LLC boosted its position in shares of Globant by 1.4% during the first quarter. Stephens Investment Management Group LLC now owns 291,410 shares of the information technology services provider's stock worth $34,305,000 after purchasing an additional 3,943 shares in the last quarter. 91.60% of the stock is owned by institutional investors.

Globant Trading Up 1.1%

Shares of NYSE:GLOB opened at $67.84 on Thursday. The company's 50-day moving average price is $83.02 and its two-hundred day moving average price is $112.02. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.71 and a quick ratio of 1.71. Globant S.A. has a one year low of $64.51 and a one year high of $238.32. The stock has a market capitalization of $2.99 billion, a PE ratio of 27.58, a price-to-earnings-growth ratio of 2.97 and a beta of 1.16.

Globant (NYSE:GLOB - Get Free Report) last issued its quarterly earnings results on Thursday, August 14th. The information technology services provider reported $1.53 EPS for the quarter, topping the consensus estimate of $1.52 by $0.01. Globant had a net margin of 4.44% and a return on equity of 10.76%. The firm had revenue of $614.18 million for the quarter, compared to analysts' expectations of $612.66 million. During the same period in the previous year, the firm posted $1.51 EPS. The company's revenue for the quarter was up 4.5% on a year-over-year basis. Globant has set its Q3 2025 guidance at 1.530- EPS. FY 2025 guidance at 6.120- EPS. On average, equities analysts forecast that Globant S.A. will post 5.73 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Globant in a research report on Thursday, July 17th. They set a "hold" rating and a $87.00 price target on the stock. Scotiabank raised 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. Piper Sandler cut shares of Globant from an "overweight" rating to a "neutral" rating and cut their price objective for the company from $154.00 to $116.00 in a research report on Friday, May 16th. UBS Group cut their price objective on shares of Globant from $120.00 to $75.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 20th. Finally, Wall Street Zen raised 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. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $139.47.

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.

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