Globant S.A. (NYSE:GLOB) is Riverbridge Partners LLC's Largest Position

Riverbridge Partners LLC trimmed its stake in shares of Globant S.A. (NYSE:GLOB - Free Report) by 5.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,298,471 shares of the information technology services provider's stock after selling 81,341 shares during the period. Globant makes up 4.1% of Riverbridge Partners LLC's investment portfolio, making the stock its largest holding. Riverbridge Partners LLC owned 3.06% of Globant worth $309,010,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in GLOB. Price T Rowe Associates Inc. MD increased its holdings in Globant by 10.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,406,155 shares of the information technology services provider's stock valued at $558,644,000 after buying an additional 319,684 shares during the last quarter. BlackRock Inc. increased its holdings in Globant by 3.1% during the second quarter. BlackRock Inc. now owns 2,845,558 shares of the information technology services provider's stock valued at $511,404,000 after buying an additional 86,266 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Globant by 3.2% during the third quarter. JPMorgan Chase & Co. now owns 1,614,782 shares of the information technology services provider's stock valued at $319,485,000 after buying an additional 49,812 shares during the last quarter. Sands Capital Management LLC increased its holdings in Globant by 8.1% during the second quarter. Sands Capital Management LLC now owns 1,522,069 shares of the information technology services provider's stock valued at $273,546,000 after buying an additional 114,126 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in Globant by 5.5% during the first quarter. Invesco Ltd. now owns 1,232,195 shares of the information technology services provider's stock valued at $322,920,000 after buying an additional 64,161 shares during the last quarter. 91.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GLOB has been the subject of a number of research reports. Piper Sandler upped their target price on shares of Globant from $257.00 to $290.00 and gave the company an "overweight" rating in a report on Friday, February 16th. Mizuho reiterated a "buy" rating and issued a $279.00 price target (down from $283.00) on shares of Globant in a research report on Tuesday, February 20th. HSBC dropped their price target on shares of Globant from $275.00 to $270.00 and set a "buy" rating for the company in a research report on Wednesday. Guggenheim assumed coverage on shares of Globant in a research report on Tuesday, March 19th. They set a "buy" rating and a $250.00 target price for the company. Finally, Needham & Company LLC upped their target price on shares of Globant from $215.00 to $275.00 and gave the stock a "buy" rating in a research report on Friday, January 26th. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $246.59.

Globant Price Performance

Shares of GLOB traded down $1.92 during midday trading on Thursday, hitting $196.84. The stock had a trading volume of 439,512 shares, compared to its average volume of 475,969. Globant S.A. has a 1 year low of $135.40 and a 1 year high of $251.50. The firm has a market cap of $8.48 billion, a PE ratio of 54.25, a price-to-earnings-growth ratio of 1.50 and a beta of 1.35. The stock's 50 day moving average is $221.18 and its 200 day moving average is $213.32.

Globant (NYSE:GLOB - Get Free Report) last announced its earnings results on Thursday, February 15th. The information technology services provider reported $1.26 earnings per share for the quarter, missing the consensus estimate of $1.34 by ($0.08). Globant had a net margin of 7.56% and a return on equity of 11.38%. The firm had revenue of $580.71 million during the quarter, compared to analysts' expectations of $579.70 million. As a group, equities research analysts expect that Globant S.A. will post 5.04 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.

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