Globant S.A. (NYSE:GLOB) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank reduced its stake in shares of Globant S.A. (NYSE:GLOB - Free Report) by 85.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,903 shares of the information technology services provider's stock after selling 60,467 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Globant were worth $1,166,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Vanguard Group Inc. grew its stake in shares of Globant by 2.4% in the fourth quarter. Vanguard Group Inc. now owns 115,147 shares of the information technology services provider's stock valued at $24,690,000 after buying an additional 2,744 shares in the last quarter. Norges Bank acquired a new stake in shares of Globant in the 4th quarter valued at about $19,444,000. National Bank of Canada FI increased its holdings in Globant by 58.2% during the 4th quarter. National Bank of Canada FI now owns 6,037 shares of the information technology services provider's stock worth $1,294,000 after purchasing an additional 2,221 shares in the last quarter. Huntington National Bank increased its position in shares of Globant by 51.5% during the fourth quarter. Huntington National Bank now owns 462 shares of the information technology services provider's stock valued at $99,000 after acquiring an additional 157 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its stake in Globant by 55.3% in the fourth quarter. Wells Fargo & Company MN now owns 63,672 shares of the information technology services provider's stock valued at $13,652,000 after purchasing an additional 22,671 shares during the last quarter. 91.60% of the stock is currently owned by institutional investors and hedge funds.

Globant Price Performance

NYSE:GLOB traded down $0.93 on Thursday, reaching $77.80. 2,229,602 shares of the company's stock traded hands, compared to its average volume of 1,075,078. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.13. The firm has a market cap of $3.43 billion, a PE ratio of 23.02, a P/E/G ratio of 3.27 and a beta of 1.16. Globant S.A. has a 12 month low of $77.09 and a 12 month high of $238.32. The stock has a 50-day simple moving average of $91.17 and a 200-day simple moving average of $126.77.

Globant (NYSE:GLOB - Get Free Report) last issued its quarterly earnings data on Thursday, May 15th. The information technology services provider reported $1.50 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 business had revenue of $611.09 million during the quarter, compared to the consensus estimate of $622.18 million. During the same period last year, the firm earned $1.53 EPS. The business's quarterly revenue was up 7.0% on a year-over-year basis. Equities research analysts forecast that Globant S.A. will post 5.73 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on GLOB shares. Mizuho set a $153.00 price objective on Globant and gave the company an "outperform" rating in a research note on Monday, May 19th. Susquehanna decreased their target price on shares of Globant from $225.00 to $160.00 and set a "positive" rating for the company in a research report on Wednesday, April 23rd. Scotiabank raised shares of Globant from a "sector perform" rating to a "sector outperform" rating and set a $115.00 target price for the company in a research note on Monday, July 21st. Piper Sandler lowered shares of Globant from an "overweight" rating to a "neutral" rating and lowered their target price for the stock from $154.00 to $116.00 in a research note on Friday, May 16th. Finally, Canaccord Genuity Group reiterated a "hold" rating and issued a $97.00 price target (down from $165.00) on shares of Globant in a research note on Thursday, June 26th. Seven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $165.69.

About Globant

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.