Trust Point Inc. Has $754,000 Holdings in Globant S.A. (NYSE:GLOB)

Trust Point Inc. decreased its position in Globant S.A. (NYSE:GLOB - Free Report) by 32.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,402 shares of the information technology services provider's stock after selling 3,091 shares during the period. Trust Point Inc.'s holdings in Globant were worth $754,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Kestra Investment Management LLC acquired a new stake in shares of Globant in the 4th quarter worth approximately $38,000. Centricity Wealth Management LLC purchased a new stake in Globant during the fourth quarter worth $38,000. Van Berkom & Associates Inc. acquired a new stake in Globant in the fourth quarter valued at $45,000. Farther Finance Advisors LLC increased its position in shares of Globant by 186.7% in the first quarter. Farther Finance Advisors LLC now owns 387 shares of the information technology services provider's stock valued at $45,000 after buying an additional 252 shares in the last quarter. Finally, Promus Capital LLC purchased a new position in shares of Globant in the fourth quarter valued at $64,000. 91.60% of the stock is currently owned by institutional investors and hedge funds.

Globant Stock Performance

NYSE:GLOB traded down $0.43 during trading hours on Friday, hitting $87.58. 1,197,713 shares of the company traded hands, compared to its average volume of 720,178. Globant S.A. has a twelve month low of $86.96 and a twelve month high of $238.32. The stock has a market capitalization of $3.86 billion, a price-to-earnings ratio of 25.91, a P/E/G ratio of 1.70 and a beta of 1.24. The firm has a 50-day moving average of $108.55 and a 200 day moving average of $156.96. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.13.

Globant (NYSE:GLOB - Get Free Report) last issued its earnings results 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). The company had revenue of $611.09 million during the quarter, compared to analyst estimates of $622.18 million. Globant had a return on equity of 11.08% and a net margin of 6.16%. The company's quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.53 earnings per share. On average, analysts forecast that Globant S.A. will post 5.73 EPS for the current year.

Analyst Ratings Changes

GLOB has been the subject of several research reports. Guggenheim restated a "buy" rating and set a $125.00 price objective on shares of Globant in a research report on Tuesday, June 10th. Needham & Company LLC dropped their price target on Globant from $130.00 to $115.00 and set a "buy" rating for the company in a research report on Friday, May 16th. Redburn Atlantic raised Globant from a "sell" rating to a "neutral" rating and boosted their price target for the stock from $140.00 to $150.00 in a report on Tuesday, February 25th. Susquehanna decreased their price objective on Globant from $225.00 to $160.00 and set a "positive" rating on the stock in a research note on Wednesday, April 23rd. Finally, Mizuho set a $153.00 price target on shares of Globant and gave the stock an "outperform" rating in a research note on Monday, May 19th. Eight research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat, 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.