Virtu Financial LLC Invests $1.24 Million in Globant S.A. (NYSE:GLOB)

Key Points

• Virtu Financial LLC has invested approximately $1.24 million in Globant S.A., acquiring 10,543 shares during the first quarter.
• Several hedge funds have increased their stakes in Globant, with institutional investors now holding about 91.60% of the company’s stock.
• Globant's latest earnings report shows a missed EPS estimate of $1.50, against a consensus expectation of $1.58, alongside a revenue drop compared to forecasts.

Virtu Financial LLC bought a new position in Globant S.A. (NYSE:GLOB - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 10,543 shares of the information technology services provider's stock, valued at approximately $1,241,000.

Several other institutional investors have also recently made changes to their positions in GLOB. Physician Wealth Advisors Inc. grew its stake in shares of Globant by 140.9% in the 1st 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 in the last quarter. Bessemer Group Inc. bought a new position in Globant during the first quarter valued at about $39,000. Farther Finance Advisors LLC grew its position 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 valued at $45,000 after buying an additional 252 shares during the period. Signaturefd LLC grew its position in Globant by 29.7% during the first quarter. Signaturefd LLC now owns 389 shares of the information technology services provider's stock valued at $46,000 after buying an additional 89 shares during the period. Finally, Blue Trust Inc. grew 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 valued at $71,000 after buying an additional 116 shares during the period. Institutional investors own 91.60% of the company's stock.

Wall Street Analysts Forecast Growth

GLOB has been the subject of several research reports. Wall Street Zen upgraded shares of Globant from a "sell" rating to a "hold" rating in a research report on Monday, May 19th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Globant in a research report on Thursday, July 17th. They set a "hold" rating and a $87.00 price target for the company. Mizuho set a $153.00 price target on shares of Globant and gave the company an "outperform" rating in a research report on Monday, May 19th. Canaccord Genuity Group restated a "hold" rating and set a $97.00 price target (down previously from $165.00) on shares of Globant in a research report on Thursday, June 26th. Finally, Needham & Company LLC reduced their price target 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. Seven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat, Globant has an average rating of "Moderate Buy" and a consensus price target of $165.69.

Globant Price Performance

Shares of Globant stock traded up $1.07 on Tuesday, reaching $75.64. The stock had a trading volume of 1,663,187 shares, compared to its average volume of 1,523,041. Globant S.A. has a 1 year low of $73.98 and a 1 year high of $238.32. The company has a market cap of $3.33 billion, a P/E ratio of 22.38, a price-to-earnings-growth ratio of 3.07 and a beta of 1.16. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.13. The business's 50 day moving average is $89.07 and its two-hundred day moving average is $122.18.

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