Riverbridge Partners LLC trimmed its position in shares of Globant S.A. (NYSE:GLOB - Free Report) by 7.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,056,071 shares of the information technology services provider's stock after selling 87,730 shares during the period. Globant accounts for approximately 2.0% of Riverbridge Partners LLC's investment portfolio, making the stock its 13th biggest position. Riverbridge Partners LLC owned approximately 2.40% of Globant worth $124,321,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in GLOB. Blue Trust Inc. increased its holdings in shares of Globant by 4,810.0% in the fourth quarter. Blue Trust Inc. now owns 491 shares of the information technology services provider's stock valued at $105,000 after purchasing an additional 481 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Globant by 315.8% in the fourth quarter. Principal Financial Group Inc. now owns 126,199 shares of the information technology services provider's stock valued at $27,060,000 after purchasing an additional 95,848 shares during the last quarter. Truist Financial Corp increased its holdings in shares of Globant by 2.6% in the fourth quarter. Truist Financial Corp now owns 21,703 shares of the information technology services provider's stock valued at $4,654,000 after purchasing an additional 557 shares during the last quarter. Kestra Investment Management LLC acquired a new position in shares of Globant in the fourth quarter valued at $38,000. Finally, Flossbach Von Storch SE increased its holdings in shares of Globant by 6.1% in the fourth quarter. Flossbach Von Storch SE now owns 17,500 shares of the information technology services provider's stock valued at $3,752,000 after purchasing an additional 1,000 shares during the last quarter. 91.60% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of equities research analysts have recently issued reports on GLOB shares. Redburn Atlantic raised shares of Globant from a "sell" rating to a "neutral" rating and boosted their target price for the company from $140.00 to $150.00 in a research report on Tuesday, February 25th. The Goldman Sachs Group cut shares of Globant from a "buy" rating to a "neutral" rating and reduced their target price for the company from $225.00 to $120.00 in a research report on Friday, May 16th. Piper Sandler cut shares of Globant from an "overweight" rating to a "neutral" rating and reduced their target price for the company from $154.00 to $116.00 in a research report on Friday, May 16th. UBS Group reduced their target price on shares of Globant from $217.00 to $190.00 and set a "neutral" rating for the company in a research report on Wednesday, February 26th. Finally, Needham & Company LLC reduced their target price on shares of Globant from $130.00 to $115.00 and set a "buy" rating for the company in a research report on Friday, May 16th. Eight investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $179.19.
View Our Latest Report on Globant
Globant Price Performance
GLOB traded up $0.77 on Monday, hitting $88.40. 960,794 shares of the stock were exchanged, compared to its average volume of 717,197. Globant S.A. has a 12 month low of $86.24 and a 12 month high of $238.32. The business has a 50-day moving average of $107.76 and a two-hundred day moving average of $154.10. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.56 and a quick ratio of 1.56. The firm has a market capitalization of $3.89 billion, a price-to-earnings ratio of 26.15, a PEG ratio of 1.69 and a beta of 1.24.
Globant (NYSE:GLOB - Get Free Report) last posted its quarterly earnings data on Thursday, May 15th. The information technology services provider reported $1.50 earnings per share for the quarter, missing the consensus estimate of $1.58 by ($0.08). Globant had a return on equity of 11.08% and a net margin of 6.16%. The firm had revenue of $611.09 million for the quarter, compared to the consensus estimate of $622.18 million. During the same period in the prior year, the company earned $1.53 EPS. The company's revenue for the quarter was up 7.0% compared to the same quarter last year. Sell-side analysts forecast that Globant S.A. will post 5.73 EPS for the current fiscal year.
Globant Profile
(
Free Report)
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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