Neuberger Berman Group LLC Sells 144,597 Shares of Globant S.A. (NYSE:GLOB)

Neuberger Berman Group LLC lowered its stake in Globant S.A. (NYSE:GLOBGet Rating) by 32.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 294,454 shares of the information technology services provider’s stock after selling 144,597 shares during the period. Neuberger Berman Group LLC’s holdings in Globant were worth $77,167,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Wasatch Advisors Inc. boosted its holdings in shares of Globant by 2.0% during the 4th quarter. Wasatch Advisors Inc. now owns 2,816,482 shares of the information technology services provider’s stock valued at $884,629,000 after buying an additional 54,946 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Globant by 50.9% during the 1st quarter. JPMorgan Chase & Co. now owns 1,907,474 shares of the information technology services provider’s stock valued at $499,893,000 after buying an additional 643,022 shares in the last quarter. Riverbridge Partners LLC boosted its holdings in shares of Globant by 1.2% during the 1st quarter. Riverbridge Partners LLC now owns 1,474,571 shares of the information technology services provider’s stock valued at $386,441,000 after buying an additional 17,533 shares in the last quarter. Sands Capital Management LLC boosted its holdings in shares of Globant by 8.3% during the 1st quarter. Sands Capital Management LLC now owns 1,341,415 shares of the information technology services provider’s stock valued at $351,545,000 after buying an additional 103,265 shares in the last quarter. Finally, Jennison Associates LLC boosted its holdings in shares of Globant by 7.4% during the 1st quarter. Jennison Associates LLC now owns 1,276,485 shares of the information technology services provider’s stock valued at $334,528,000 after buying an additional 87,562 shares in the last quarter. Institutional investors own 88.96% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. The Goldman Sachs Group lowered their price target on Globant from $360.00 to $280.00 and set a “buy” rating for the company in a research report on Tuesday, July 5th. KeyCorp assumed coverage on Globant in a research report on Monday, September 12th. They issued an “overweight” rating and a $291.00 price target for the company. Cowen lifted their price target on Globant from $220.00 to $248.00 and gave the stock an “outperform” rating in a research report on Friday, August 19th. Cowen lifted their price target on Globant from $220.00 to $248.00 and gave the stock an “outperform” rating in a research report on Friday, August 19th. Finally, Piper Sandler lifted their price target on Globant from $231.00 to $249.00 and gave the stock an “overweight” rating in a research report on Friday, August 19th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Globant presently has a consensus rating of “Moderate Buy” and an average target price of $268.71.

Globant Stock Performance

Shares of NYSE:GLOB opened at $209.02 on Friday. Globant S.A. has a fifty-two week low of $159.56 and a fifty-two week high of $354.62. The firm has a market cap of $8.76 billion, a price-to-earnings ratio of 69.44 and a beta of 1.46. The business has a 50-day simple moving average of $210.47 and a two-hundred day simple moving average of $212.68.

Globant (NYSE:GLOBGet Rating) last released its quarterly earnings results on Thursday, August 18th. The information technology services provider reported $1.22 EPS for the quarter, beating the consensus estimate of $1.20 by $0.02. Globant had a net margin of 8.26% and a return on equity of 11.53%. The firm had revenue of $429.30 million during the quarter, compared to analyst estimates of $426.22 million. During the same quarter in the prior year, the firm earned $0.71 EPS. The business’s revenue for the quarter was up 40.6% compared to the same quarter last year. As a group, research analysts predict that Globant S.A. will post 4.04 earnings per share for the current year.

Globant Profile

(Get Rating)

Globant SA operates as a technology services company worldwide. It offers e-commerce, new distribution capabilities, augmented revenue management, hyper connected operation, and conversational user experience services through reinvention studios; digital lending, commercial effectiveness, finance, sustainability, regulation analytic, transformation and post-merger integration, and payment and open banking services; and game and graphic engineering, UI and UX design, game as a service, DevOps, and online services, as well as high tech tools.

Featured Stories

Want to see what other hedge funds are holding GLOB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Globant S.A. (NYSE:GLOBGet Rating).

Institutional Ownership by Quarter for Globant (NYSE:GLOB)

Receive News & Ratings for Globant Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Globant and related companies with MarketBeat.com's FREE daily email newsletter.