Globant S.A. (NYSE:GLOB) Shares Sold by Wasatch Advisors LP

Wasatch Advisors LP decreased its stake in Globant S.A. (NYSE:GLOB - Free Report) by 1.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,425,578 shares of the information technology services provider's stock after selling 54,551 shares during the period. Globant accounts for approximately 3.6% of Wasatch Advisors LP's holdings, making the stock its largest position. Wasatch Advisors LP owned approximately 7.95% of Globant worth $734,512,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of GLOB. Centricity Wealth Management LLC acquired a new position in Globant during the 4th quarter worth approximately $38,000. Kestra Investment Management LLC acquired a new stake in shares of Globant during the fourth quarter worth $38,000. Wilmington Savings Fund Society FSB bought a new position in shares of Globant in the 3rd quarter worth about $40,000. Van Berkom & Associates Inc. acquired a new position in Globant in the fourth quarter valued at approximately $45,000. Finally, Promus Capital LLC bought a new position in Globant during the fourth quarter worth $64,000. Institutional investors own 91.60% of the company's stock.

Globant Stock Performance

Globant stock traded down $2.33 during mid-day trading on Monday, reaching $103.60. 96,684 shares of the company were exchanged, compared to its average volume of 594,998. The business has a fifty day moving average of $139.24 and a 200 day moving average of $189.88. Globant S.A. has a 12-month low of $96.23 and a 12-month high of $238.32. The firm has a market cap of $4.56 billion, a P/E ratio of 27.85, a PEG ratio of 2.38 and a beta of 1.50.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on GLOB shares. Piper Sandler lowered their price target on Globant from $230.00 to $154.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Jefferies Financial Group boosted their price objective on Globant from $240.00 to $255.00 and gave the company a "buy" rating in a research note on Tuesday, January 21st. Redburn Atlantic upgraded Globant from a "sell" rating to a "neutral" rating and lifted their price target for the company from $140.00 to $150.00 in a research report on Tuesday, February 25th. UBS Group reduced their price target on shares of Globant from $217.00 to $190.00 and set a "neutral" rating for the company in a research report on Wednesday, February 26th. Finally, Canaccord Genuity Group cut their target price on shares of Globant from $205.00 to $165.00 and set a "hold" rating for the company in a research report on Monday, February 24th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, Globant presently has a consensus rating of "Moderate Buy" and a consensus target price of $209.94.

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.