Globant S.A. (NYSE:GLOB) Stock Holdings Trimmed by Wellington Management Group LLP

Wellington Management Group LLP decreased its holdings in Globant S.A. (NYSE:GLOB - Free Report) by 40.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 53,900 shares of the information technology services provider's stock after selling 35,865 shares during the quarter. Wellington Management Group LLP owned approximately 0.12% of Globant worth $11,557,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Centricity Wealth Management LLC acquired a new stake in shares of Globant during the 4th quarter worth $38,000. Kestra Investment Management LLC purchased a new stake in Globant during the fourth quarter valued at about $38,000. Van Berkom & Associates Inc. acquired a new stake in Globant during the fourth quarter worth about $45,000. Promus Capital LLC acquired a new stake in Globant during the fourth quarter worth about $64,000. Finally, Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Globant in the 4th quarter worth about $81,000. Institutional investors and hedge funds own 91.60% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Needham & Company LLC decreased their target price on Globant from $130.00 to $115.00 and set a "buy" rating for the company in a report on Friday, May 16th. JPMorgan Chase & Co. reduced their price target on shares of Globant from $248.00 to $242.00 and set an "overweight" rating on the stock in a research report on Friday, February 21st. Scotiabank dropped their price objective on shares of 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 shares of Globant from a "sell" rating to a "hold" rating in a research note on Monday, May 19th. Finally, Redburn Atlantic upgraded shares of Globant from a "sell" rating to a "neutral" rating and lifted their target price for the company from $140.00 to $150.00 in a report on Tuesday, February 25th. Eight research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $179.19.

Globant Stock Up 1.4%

Shares of Globant stock traded up $1.38 during trading hours on Wednesday, hitting $97.96. 741,208 shares of the company's stock traded hands, compared to its average volume of 699,127. Globant S.A. has a twelve month low of $88.03 and a twelve month high of $238.32. The stock has a 50 day simple moving average of $111.40 and a 200-day simple moving average of $167.05. The company has a market cap of $4.31 billion, a PE ratio of 26.33, a PEG ratio of 2.38 and a beta of 1.37.

Globant (NYSE:GLOB - Get Free Report) last issued its quarterly earnings data on Thursday, May 15th. The information technology services provider reported $1.50 earnings per share for the quarter, missing analysts' consensus estimates of $1.58 by ($0.08). Globant had a net margin of 6.86% and a return on equity of 11.83%. The business had revenue of $611.09 million for the quarter, compared to analyst estimates of $622.18 million. During the same quarter last year, the business earned $1.53 EPS. Globant's revenue for the quarter was up 7.0% compared to the same quarter last year. As a group, equities research analysts predict 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.