Moody National Bank Trust Division Reduces Position in Globant S.A. (NYSE:GLOB)

Moody National Bank Trust Division reduced its stake in shares of Globant S.A. (NYSE:GLOB - Free Report) by 58.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,126 shares of the information technology services provider's stock after selling 7,324 shares during the quarter. Moody National Bank Trust Division's holdings in Globant were worth $603,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Barclays PLC raised its holdings in Globant by 132.9% during the 3rd quarter. Barclays PLC now owns 22,537 shares of the information technology services provider's stock valued at $4,467,000 after buying an additional 12,862 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Globant by 6.9% in the third quarter. JPMorgan Chase & Co. now owns 2,368,608 shares of the information technology services provider's stock valued at $469,316,000 after acquiring an additional 153,385 shares during the period. SG Americas Securities LLC bought a new position in shares of Globant during the fourth quarter valued at about $309,000. Robeco Institutional Asset Management B.V. boosted its holdings in shares of Globant by 4,020.3% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 51,504 shares of the information technology services provider's stock worth $11,043,000 after purchasing an additional 50,254 shares during the period. Finally, Chicago Capital LLC purchased a new stake in shares of Globant during the fourth quarter worth about $951,000. 91.60% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on GLOB. Scotiabank lowered their price target on Globant from $170.00 to $140.00 and set a "sector perform" rating for the company in a research report on Tuesday, April 29th. Wall Street Zen raised Globant from a "sell" rating to a "hold" rating in a research note on Monday, May 19th. UBS Group dropped their price target on Globant from $217.00 to $190.00 and set a "neutral" rating for the company in a research note on Wednesday, February 26th. Needham & Company LLC cut their price target on shares of Globant from $130.00 to $115.00 and set a "buy" rating on the stock in a report on Friday, May 16th. Finally, Mizuho set a $153.00 price objective on shares of Globant and gave the stock an "outperform" rating in a report on Monday, May 19th. Eight equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Globant currently has an average rating of "Moderate Buy" and a consensus target price of $179.19.

Globant Trading Up 1.5%

Globant stock traded up $1.43 during mid-day trading on Thursday, hitting $99.38. The company had a trading volume of 156,019 shares, compared to its average volume of 697,642. Globant S.A. has a 12 month low of $88.03 and a 12 month high of $238.32. The stock's 50 day moving average price is $110.99 and its two-hundred day moving average price is $166.57. The company has a market capitalization of $4.38 billion, a PE ratio of 26.69, a price-to-earnings-growth ratio of 2.38 and a beta of 1.37.

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 the consensus estimate of $1.58 by ($0.08). The firm had revenue of $611.09 million for the quarter, compared to analysts' expectations of $622.18 million. Globant had a net margin of 6.86% and a return on equity of 11.83%. The business's revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period last year, the company posted $1.53 earnings per share. Equities research analysts anticipate that Globant S.A. will post 5.73 EPS for the current year.

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.