Globant S.A. (NYSE:GLOB) Stake Lessened by Mirabella Financial Services LLP

Mirabella Financial Services LLP lowered its stake in Globant S.A. (NYSE:GLOB - Free Report) by 33.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,993 shares of the information technology services provider's stock after selling 8,200 shares during the quarter. Mirabella Financial Services LLP's holdings in Globant were worth $3,429,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. GQG Partners LLC acquired a new position in shares of Globant in the 4th quarter worth approximately $84,906,000. Canada Pension Plan Investment Board acquired a new position in Globant during the fourth quarter worth $60,913,000. JPMorgan Chase & Co. boosted its position in shares of Globant by 8.6% during the fourth quarter. JPMorgan Chase & Co. now owns 2,572,080 shares of the information technology services provider's stock worth $551,506,000 after buying an additional 203,472 shares during the period. Capital International Investors grew its stake in shares of Globant by 13.1% in the fourth quarter. Capital International Investors now owns 1,700,519 shares of the information technology services provider's stock valued at $364,723,000 after buying an additional 197,064 shares in the last quarter. Finally, abrdn plc raised its holdings in shares of Globant by 36.7% in the 4th quarter. abrdn plc now owns 470,150 shares of the information technology services provider's stock valued at $101,564,000 after buying an additional 126,333 shares during the period. Hedge funds and other institutional investors own 91.60% of the company's stock.

Globant Stock Up 0.6 %

Shares of GLOB stock traded up $0.66 on Friday, reaching $119.01. 349,991 shares of the stock were exchanged, compared to its average volume of 603,428. Globant S.A. has a 1-year low of $96.23 and a 1-year high of $238.32. The stock has a market cap of $5.24 billion, a P/E ratio of 31.93, a price-to-earnings-growth ratio of 2.38 and a beta of 1.50. The firm has a 50 day moving average of $130.12 and a two-hundred day moving average of $187.62.

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 (EPS) for the quarter, missing analysts' consensus estimates of $1.75 by ($0.39). Globant had a return on equity of 11.83% and a net margin of 6.86%. The firm had revenue of $642.48 million for the quarter, compared to analysts' expectations of $644.42 million. On average, equities research analysts predict that Globant S.A. will post 5.73 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

GLOB has been the subject of a number of research analyst reports. Scotiabank lowered their target price on Globant from $220.00 to $170.00 and set a "sector perform" rating for the company in a report on Monday, February 24th. Piper Sandler lowered their price objective 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. Needham & Company LLC reaffirmed a "buy" rating and set a $220.00 target price on shares of Globant in a research note on Wednesday, March 12th. StockNews.com lowered shares of Globant from a "hold" rating to a "sell" rating in a report on Friday. Finally, JPMorgan Chase & Co. dropped their price target on shares of Globant from $248.00 to $242.00 and set an "overweight" rating for the company in a research note on Friday, February 21st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $205.88.

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.