Thornburg Investment Management Inc. Sells 16,722 Shares of Globant S.A. (NYSE:GLOB)

Thornburg Investment Management Inc. decreased its stake in shares of Globant S.A. (NYSE:GLOB - Free Report) by 15.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 89,091 shares of the information technology services provider's stock after selling 16,722 shares during the period. Thornburg Investment Management Inc. owned approximately 0.21% of Globant worth $21,154,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its position in Globant by 3.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,614,782 shares of the information technology services provider's stock worth $319,485,000 after acquiring an additional 49,812 shares during the last quarter. Jennison Associates LLC grew its holdings in shares of Globant by 289.5% in the 4th quarter. Jennison Associates LLC now owns 960,833 shares of the information technology services provider's stock valued at $228,659,000 after acquiring an additional 714,162 shares in the last quarter. Schroder Investment Management Group boosted its position in Globant by 16.2% during the third quarter. Schroder Investment Management Group now owns 734,479 shares of the information technology services provider's stock valued at $145,317,000 after purchasing an additional 102,184 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in Globant by 36.7% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 705,090 shares of the information technology services provider's stock valued at $167,797,000 after purchasing an additional 189,204 shares in the last quarter. Finally, Invesco Ltd. increased its position in shares of Globant by 155.2% during the 3rd quarter. Invesco Ltd. now owns 611,061 shares of the information technology services provider's stock worth $120,898,000 after purchasing an additional 371,628 shares during the last quarter. 91.60% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. UBS Group boosted their price objective on shares of Globant from $230.00 to $240.00 and gave the stock a "neutral" rating in a research note on Monday, February 26th. Canaccord Genuity Group reissued a "hold" rating and issued a $230.00 price objective on shares of Globant in a research report on Tuesday, February 20th. Mizuho reaffirmed a "buy" rating and set a $279.00 target price (down previously from $283.00) on shares of Globant in a report on Tuesday, February 20th. Scotiabank cut Globant from a "sector outperform" rating to a "sector perform" rating and reduced their price objective for the stock from $230.00 to $200.00 in a report on Friday. Finally, HSBC lowered their target price on Globant from $275.00 to $270.00 and set a "buy" rating on the stock in a research note on Wednesday, April 3rd. One analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $242.59.

Globant Stock Performance

Shares of NYSE GLOB traded down $0.66 during midday trading on Tuesday, reaching $174.44. The stock had a trading volume of 288,763 shares, compared to its average volume of 459,052. Globant S.A. has a twelve month low of $138.18 and a twelve month high of $251.50. The company's 50 day moving average price is $195.07 and its 200 day moving average price is $212.03. The firm has a market cap of $7.52 billion, a price-to-earnings ratio of 48.06, a price-to-earnings-growth ratio of 1.31 and a beta of 1.35.

Globant (NYSE:GLOB - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $580.71 million during the quarter, compared to analyst estimates of $579.70 million. Equities analysts forecast that Globant S.A. will post 5.03 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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