Globant S.A. (NYSE:GLOB) Stake Cut by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD reduced its position in shares of Globant S.A. (NYSE:GLOB - Free Report) by 10.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,434,654 shares of the information technology services provider's stock after selling 515,386 shares during the period. Price T Rowe Associates Inc. MD owned approximately 10.29% of Globant worth $950,880,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. SIH Partners LLLP acquired a new position in Globant during the fourth quarter worth $552,000. Stifel Financial Corp boosted its position in shares of Globant by 10.4% in the 4th quarter. Stifel Financial Corp now owns 46,962 shares of the information technology services provider's stock worth $10,070,000 after buying an additional 4,433 shares in the last quarter. OneDigital Investment Advisors LLC grew its stake in Globant by 23.7% in the 4th quarter. OneDigital Investment Advisors LLC now owns 1,811 shares of the information technology services provider's stock valued at $388,000 after acquiring an additional 347 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in Globant by 262.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 562 shares of the information technology services provider's stock valued at $121,000 after acquiring an additional 407 shares in the last quarter. Finally, MML Investors Services LLC raised its position in Globant by 30.4% during the fourth quarter. MML Investors Services LLC now owns 8,359 shares of the information technology services provider's stock worth $1,792,000 after acquiring an additional 1,947 shares during the last quarter. Institutional investors and hedge funds own 91.60% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Jefferies Financial Group upped their price objective on Globant from $240.00 to $255.00 and gave the company a "buy" rating in a research report on Tuesday, January 21st. Needham & Company LLC reaffirmed a "buy" rating and set a $220.00 price target on shares of Globant in a research note on Wednesday, March 12th. UBS Group lowered their price target on shares of Globant from $217.00 to $190.00 and set a "neutral" rating for the company in a report on Wednesday, February 26th. StockNews.com downgraded shares of Globant from a "hold" rating to a "sell" rating in a research note on Friday. Finally, Susquehanna lowered 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. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $204.00.

Globant Trading Up 1.0 %

GLOB traded up $1.20 during trading on Tuesday, reaching $119.93. 78,018 shares of the company were exchanged, compared to its average volume of 604,512. Globant S.A. has a 52 week low of $96.23 and a 52 week high of $238.32. The stock has a market cap of $5.28 billion, a P/E ratio of 32.19, a PEG ratio of 2.38 and a beta of 1.50. The firm has a 50 day moving average of $126.07 and a 200 day moving average of $186.03.

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