Globant S.A. (NYSE:GLOB) Shares Sold by Martin Currie Ltd.

Key Points

• Martin Currie Ltd. reduced its stake in Globant S.A. by 25.5%, now holding approximately 295,861 shares valued at about $34.8 million.
• Globant's stock has attracted attention, with analysts setting an average price target of $165.69 following various ratings, including 10 buy ratings.
• The company reported a 4.5% increase in revenue year-over-year for the last quarter, with an earnings per share (EPS) of $1.53, slightly exceeding analysts' expectations.

Martin Currie Ltd. trimmed its stake in shares of Globant S.A. (NYSE:GLOB - Free Report) by 25.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 295,861 shares of the information technology services provider's stock after selling 101,448 shares during the period. Globant comprises 1.4% of Martin Currie Ltd.'s holdings, making the stock its 23rd largest position. Martin Currie Ltd. owned approximately 0.67% of Globant worth $34,829,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GLOB. Physician Wealth Advisors Inc. grew its holdings in Globant by 140.9% during the first quarter. Physician Wealth Advisors Inc. now owns 265 shares of the information technology services provider's stock worth $31,000 after acquiring an additional 155 shares during the period. Bessemer Group Inc. acquired a new stake in Globant during the first quarter worth about $39,000. Farther Finance Advisors LLC grew its holdings in Globant by 186.7% during the first quarter. Farther Finance Advisors LLC now owns 387 shares of the information technology services provider's stock worth $45,000 after acquiring an additional 252 shares during the period. Signaturefd LLC grew its holdings in Globant by 29.7% during the first quarter. Signaturefd LLC now owns 389 shares of the information technology services provider's stock worth $46,000 after acquiring an additional 89 shares during the period. Finally, Blue Trust Inc. boosted its position in Globant by 23.6% during the first quarter. Blue Trust Inc. now owns 607 shares of the information technology services provider's stock worth $71,000 after purchasing an additional 116 shares in the last quarter. 91.60% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have issued reports on GLOB. Mizuho set a $153.00 price target on Globant and gave the stock an "outperform" rating in a research report on Monday, May 19th. Susquehanna lowered their price target on Globant from $225.00 to $160.00 and set a "positive" rating on the stock in a research report on Wednesday, April 23rd. Guggenheim reiterated a "buy" rating and set a $125.00 price target on shares of Globant in a research report on Tuesday, June 10th. Scotiabank upgraded Globant from a "sector perform" rating to a "sector outperform" rating and set a $115.00 price target on the stock in a research report on Monday, July 21st. Finally, Piper Sandler downgraded Globant from an "overweight" rating to a "neutral" rating and lowered their price target for the stock from $154.00 to $116.00 in a research report on Friday, May 16th. Seven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $165.69.

Globant Stock Performance

NYSE GLOB opened at $78.00 on Friday. The company has a market cap of $3.43 billion, a PE ratio of 23.08, a price-to-earnings-growth ratio of 3.27 and a beta of 1.16. The stock's 50 day simple moving average is $88.27 and its 200-day simple moving average is $120.99. Globant S.A. has a 1-year low of $73.98 and a 1-year high of $238.32. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.56 and a quick ratio of 1.56.

Globant (NYSE:GLOB - Get Free Report) last announced its quarterly earnings data on Thursday, August 14th. The information technology services provider reported $1.53 EPS for the quarter, topping analysts' consensus estimates of $1.52 by $0.01. Globant had a return on equity of 11.08% and a net margin of 6.16%. The firm had revenue of $614.18 million for the quarter, compared to the consensus estimate of $612.66 million. During the same quarter last year, the business posted $1.51 earnings per share. The firm's revenue was up 4.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Globant S.A. will post 5.73 EPS for the current fiscal 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.