Vanguard Group Inc. Sells 51,747 Shares of Globant S.A. (NYSE:GLOB)

Vanguard Group Inc. reduced its holdings in Globant S.A. (NYSE:GLOB - Free Report) by 34.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 97,928 shares of the information technology services provider's stock after selling 51,747 shares during the quarter. Vanguard Group Inc. owned about 0.23% of Globant worth $19,375,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the business. Price T Rowe Associates Inc. MD lifted its holdings in shares of Globant by 10.4% in the 1st 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 period. JPMorgan Chase & Co. raised 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 worth $319,485,000 after purchasing an additional 49,812 shares during the last quarter. Sands Capital Management LLC raised 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 worth $273,546,000 after purchasing an additional 114,126 shares during the last quarter. Invesco Ltd. raised 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 worth $322,920,000 after purchasing an additional 64,161 shares during the last quarter. Finally, Capital International Investors raised its holdings in Globant by 0.6% during the first quarter. Capital International Investors now owns 822,632 shares of the information technology services provider's stock worth $215,587,000 after purchasing an additional 4,561 shares during the last quarter. 91.60% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on GLOB. Wedbush reaffirmed an "outperform" rating and set a $250.00 price objective on shares of Globant in a report on Friday, February 16th. Citigroup lifted their price objective on Globant from $215.00 to $275.00 and gave the stock a "buy" rating in a report on Wednesday, January 17th. Needham & Company LLC raised their price target on Globant from $215.00 to $275.00 and gave the stock a "buy" rating in a research report on Friday, January 26th. Canaccord Genuity Group reissued a "hold" rating and set a $230.00 price target on shares of Globant in a research report on Tuesday, February 20th. Finally, Guggenheim started coverage on Globant in a research report on Tuesday, March 19th. They set a "buy" rating and a $250.00 price target for the company. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, Globant currently has an average rating of "Moderate Buy" and an average target price of $246.59.

Globant Price Performance

GLOB stock traded down $2.65 during trading on Monday, reaching $189.69. 291,449 shares of the stock traded hands, compared to its average volume of 457,608. The business's 50 day moving average price is $215.05 and its 200-day moving average price is $213.30. Globant S.A. has a 52-week low of $135.40 and a 52-week high of $251.50. The firm has a market capitalization of $8.17 billion, a PE ratio of 52.28, a P/E/G ratio of 1.45 and a beta of 1.35.

Globant (NYSE:GLOB - Get Free Report) last posted its quarterly earnings results on Thursday, February 15th. The information technology services provider reported $1.26 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $579.70 million. On average, equities research analysts predict that Globant S.A. will post 5.04 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.