Alyeska Investment Group L.P. Trims Holdings in Globant S.A. (NYSE:GLOB)

Alyeska Investment Group L.P. cut its holdings in shares of Globant S.A. (NYSE:GLOB - Free Report) by 6.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 278,705 shares of the information technology services provider's stock after selling 19,689 shares during the period. Alyeska Investment Group L.P. owned approximately 0.65% of Globant worth $59,760,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Franklin Resources Inc. grew its holdings in shares of Globant by 0.6% during the third quarter. Franklin Resources Inc. now owns 12,800 shares of the information technology services provider's stock worth $2,704,000 after buying an additional 71 shares in the last quarter. Congress Wealth Management LLC DE grew its stake in shares of Globant by 2.9% during the 4th quarter. Congress Wealth Management LLC DE now owns 2,683 shares of the information technology services provider's stock worth $575,000 after acquiring an additional 76 shares in the last quarter. Treasurer of the State of North Carolina raised its holdings in shares of Globant by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 18,490 shares of the information technology services provider's stock valued at $3,965,000 after purchasing an additional 110 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Globant by 2.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,813 shares of the information technology services provider's stock worth $1,032,000 after purchasing an additional 118 shares in the last quarter. Finally, Commerce Bank boosted its holdings in Globant by 8.8% during the fourth quarter. Commerce Bank now owns 1,873 shares of the information technology services provider's stock worth $402,000 after purchasing an additional 151 shares during the last quarter. 91.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on GLOB. Scotiabank dropped their price objective on Globant from $170.00 to $140.00 and set a "sector perform" rating on the stock in a research note on Tuesday, April 29th. Jefferies Financial Group increased their price target on shares of Globant from $240.00 to $255.00 and gave the company a "buy" rating in a research note on Tuesday, January 21st. Needham & Company LLC restated a "buy" rating and set a $220.00 price objective on shares of Globant in a research note on Wednesday, March 12th. StockNews.com upgraded shares of Globant from a "sell" rating to a "hold" rating in a research note on Saturday. Finally, UBS Group reduced their price target on Globant from $217.00 to $190.00 and set a "neutral" rating for the company in a report on Wednesday, February 26th. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $204.00.

Globant Stock Up 1.5 %

NYSE GLOB traded up $1.78 during trading hours on Tuesday, reaching $119.60. 511,184 shares of the company were exchanged, compared to its average volume of 608,783. The business's 50 day simple moving average is $120.81 and its 200-day simple moving average is $182.18. Globant S.A. has a 1 year low of $96.23 and a 1 year high of $238.32. The stock has a market capitalization of $5.27 billion, a P/E ratio of 32.15, a P/E/G ratio of 2.38 and a beta of 1.37.

Globant (NYSE:GLOB - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The information technology services provider reported $1.36 earnings per share for the quarter, missing the consensus estimate of $1.75 by ($0.39). Globant had a net margin of 6.86% and a return on equity of 11.83%. The firm had revenue of $642.48 million for the quarter, compared to the consensus estimate of $644.42 million. As a group, sell-side analysts anticipate that Globant S.A. will post 5.73 earnings per share 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.