Hsbc Holdings PLC Sells 8,976 Shares of Globant S.A. (NYSE:GLOB)

Hsbc Holdings PLC trimmed its holdings in shares of Globant S.A. (NYSE:GLOB - Free Report) by 13.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 58,685 shares of the information technology services provider's stock after selling 8,976 shares during the period. Hsbc Holdings PLC owned about 0.14% of Globant worth $12,619,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Barclays PLC grew its stake in Globant by 132.9% in the third quarter. Barclays PLC now owns 22,537 shares of the information technology services provider's stock valued at $4,467,000 after purchasing an additional 12,862 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Globant in the third quarter valued at $40,000. Franklin Resources Inc. increased its holdings in 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 during the last quarter. Oddo BHF Asset Management Sas bought a new stake in Globant during the third quarter worth $10,814,000. Finally, Principal Financial Group Inc. lifted its stake in Globant by 121.3% in the third quarter. Principal Financial Group Inc. now owns 30,351 shares of the information technology services provider's stock valued at $6,014,000 after acquiring an additional 16,639 shares during the last quarter. Institutional investors own 91.60% of the company's stock.

Globant Trading Up 1.6 %

GLOB stock traded up $1.85 during mid-day trading on Friday, hitting $119.28. The stock had a trading volume of 468,097 shares, compared to its average volume of 609,046. The firm has a fifty day simple moving average of $122.08 and a 200 day simple moving average of $183.58. Globant S.A. has a 52 week low of $96.23 and a 52 week high of $238.32. The firm has a market capitalization of $5.25 billion, a P/E ratio of 32.06, a P/E/G ratio of 2.38 and a beta of 1.37.

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

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Susquehanna cut their target price on shares of Globant from $225.00 to $160.00 and set a "positive" rating for the company in a research note on Wednesday, April 23rd. Scotiabank dropped their price target on Globant from $170.00 to $140.00 and set a "sector perform" rating on the stock in a research note on Tuesday. Canaccord Genuity Group reduced their price objective 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. Piper Sandler cut their target price on shares of Globant from $230.00 to $154.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Finally, UBS Group decreased their price target on shares of Globant from $217.00 to $190.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 26th. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $204.00.

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.