BW Gestao de Investimentos Ltda. Trims Position in Globant S.A. (NYSE:GLOB)

BW Gestao de Investimentos Ltda. reduced its holdings in shares of Globant S.A. (NYSE:GLOB - Free Report) by 10.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 118,100 shares of the information technology services provider's stock after selling 13,900 shares during the quarter. Globant accounts for about 0.8% of BW Gestao de Investimentos Ltda.'s holdings, making the stock its 10th biggest position. BW Gestao de Investimentos Ltda. owned approximately 0.27% of Globant worth $25,323,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Centricity Wealth Management LLC purchased a new position in shares of Globant in the 4th quarter worth approximately $38,000. Kestra Investment Management LLC bought a new position in Globant in the 4th quarter valued at $38,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Globant during the 3rd quarter valued at $40,000. Van Berkom & Associates Inc. bought a new stake in shares of Globant during the 4th quarter worth $45,000. Finally, Promus Capital LLC purchased a new position in shares of Globant in the 4th quarter worth about $64,000. 91.60% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on GLOB shares. StockNews.com upgraded shares of Globant from a "sell" rating to a "hold" rating in a research note on Saturday. UBS Group dropped their price objective on Globant from $217.00 to $190.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 26th. JPMorgan Chase & Co. decreased their target price on Globant from $248.00 to $242.00 and set an "overweight" rating for the company in a research report on Friday, February 21st. Needham & Company LLC reaffirmed a "buy" rating and set a $220.00 price target on shares of Globant in a research report on Wednesday, March 12th. Finally, Susquehanna decreased their price objective on Globant from $225.00 to $160.00 and set a "positive" rating for the company in a report on Wednesday, April 23rd. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Globant currently has a consensus rating of "Moderate Buy" and a consensus price target of $204.00.

Globant Price Performance

Shares of NYSE:GLOB traded up $3.32 on Wednesday, hitting $122.87. The company's stock had a trading volume of 974,843 shares, compared to its average volume of 609,635. The company has a market capitalization of $5.41 billion, a PE ratio of 33.03, a PEG ratio of 2.38 and a beta of 1.37. The company has a 50-day simple moving average of $120.81 and a 200 day simple moving average of $182.18. Globant S.A. has a 1 year low of $96.23 and a 1 year high of $238.32.

Globant (NYSE:GLOB - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The information technology services provider reported $1.36 EPS for the quarter, missing analysts' consensus estimates of $1.75 by ($0.39). The company had revenue of $642.48 million during the quarter, compared to analysts' expectations of $644.42 million. Globant had a return on equity of 11.83% and a net margin of 6.86%. On average, equities research analysts expect that Globant S.A. will post 5.73 earnings per share for the current fiscal year.

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.