Globant S.A. (NYSE:GLOB) Position Reduced by Squarepoint Ops LLC

Squarepoint Ops LLC lowered its stake in shares of Globant S.A. (NYSE:GLOB - Free Report) by 61.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 36,873 shares of the information technology services provider's stock after selling 58,039 shares during the quarter. Squarepoint Ops LLC owned approximately 0.09% of Globant worth $7,906,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Barclays PLC grew its position in Globant by 132.9% in the 3rd quarter. Barclays PLC now owns 22,537 shares of the information technology services provider's stock worth $4,467,000 after purchasing an additional 12,862 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Globant by 6.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,368,608 shares of the information technology services provider's stock worth $469,316,000 after buying an additional 153,385 shares in the last quarter. SG Americas Securities LLC bought a new position in Globant in the 4th quarter worth approximately $309,000. Janney Montgomery Scott LLC increased its position in Globant by 10.7% in the 4th quarter. Janney Montgomery Scott LLC now owns 16,260 shares of the information technology services provider's stock valued at $3,486,000 after acquiring an additional 1,573 shares during the period. Finally, Jacksonville Wealth Management LLC bought a new stake in Globant during the 4th quarter valued at $334,000. 91.60% of the stock is owned by institutional investors and hedge funds.

Globant Trading Down 2.7%

GLOB stock traded down $2.72 on Wednesday, hitting $98.93. 894,586 shares of the company's stock traded hands, compared to its average volume of 688,237. The stock has a market cap of $4.36 billion, a price-to-earnings ratio of 26.59, a P/E/G ratio of 2.38 and a beta of 1.37. Globant S.A. has a 1-year low of $88.03 and a 1-year high of $238.32. The stock has a fifty day moving average of $114.55 and a 200-day moving average of $171.57.

Globant (NYSE:GLOB - Get Free Report) last announced its quarterly earnings data on Thursday, May 15th. The information technology services provider reported $1.50 EPS for the quarter, missing analysts' consensus estimates of $1.58 by ($0.08). The company had revenue of $611.09 million for the quarter, compared to analyst estimates of $622.18 million. Globant had a net margin of 6.86% and a return on equity of 11.83%. Globant's revenue was up 7.0% on a year-over-year basis. During the same quarter last year, the company posted $1.53 EPS. On average, equities research analysts anticipate that Globant S.A. will post 5.73 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

GLOB has been the subject of several recent analyst reports. Redburn Atlantic raised Globant from a "sell" rating to a "neutral" rating and increased their price target for the stock from $140.00 to $150.00 in a research note on Tuesday, February 25th. Needham & Company LLC cut their price objective on shares of Globant from $130.00 to $115.00 and set a "buy" rating on the stock in a research note on Friday, May 16th. Susquehanna decreased their target price on shares of Globant from $225.00 to $160.00 and set a "positive" rating for the company in a research report on Wednesday, April 23rd. Guggenheim lowered their target price on shares of Globant from $150.00 to $125.00 and set a "buy" rating on the stock in a research note on Friday, May 16th. Finally, Piper Sandler downgraded shares of Globant from an "overweight" rating to a "neutral" rating and dropped their price target for the stock from $154.00 to $116.00 in a research report on Friday, May 16th. Eight research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, Globant presently has an average rating of "Moderate Buy" and an average target price of $179.19.

Globant Company 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.