Advisory Services Network LLC Cuts Holdings in Globant S.A. (NYSE:GLOB)

Advisory Services Network LLC decreased its position in shares of Globant S.A. (NYSE:GLOBGet Rating) by 0.8% in the first quarter, HoldingsChannel reports. The firm owned 7,228 shares of the information technology services provider’s stock after selling 57 shares during the quarter. Advisory Services Network LLC’s holdings in Globant were worth $1,895,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in GLOB. Wasatch Advisors Inc. lifted its holdings in shares of Globant by 2.0% in 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 acquiring an additional 54,946 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Globant by 50.9% in 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 acquiring an additional 643,022 shares during the last quarter. Riverbridge Partners LLC lifted its holdings in shares of Globant by 1.2% in 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 acquiring an additional 17,533 shares during the last quarter. Sands Capital Management LLC lifted its holdings in shares of Globant by 8.3% in 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 acquiring an additional 103,265 shares during the last quarter. Finally, Jennison Associates LLC lifted its holdings in shares of Globant by 7.4% in 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 acquiring an additional 87,562 shares during the last quarter. Hedge funds and other institutional investors own 88.96% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Cowen increased their price target on shares of Globant from $220.00 to $248.00 and gave the company an “outperform” rating in a report on Friday, August 19th. KeyCorp started coverage on shares of Globant in a research note on Monday, September 12th. They issued an “overweight” rating and a $291.00 price objective for the company. Piper Sandler raised their price objective on shares of Globant from $231.00 to $249.00 and gave the stock an “overweight” rating in a research note on Friday, August 19th. The Goldman Sachs Group decreased their price objective on shares of Globant from $360.00 to $280.00 and set a “buy” rating for the company in a research note on Tuesday, July 5th. Finally, Cowen raised their price objective on shares of Globant from $220.00 to $248.00 and gave the stock an “outperform” rating in a research note on Friday, August 19th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Globant currently has an average rating of “Moderate Buy” and an average target price of $268.71.

Globant Stock Performance

Globant stock opened at $209.02 on Monday. The company has a 50 day moving average price of $210.47 and a 200-day moving average price of $212.42. Globant S.A. has a fifty-two week low of $159.56 and a fifty-two week high of $354.62. The company has a market capitalization of $8.76 billion, a PE ratio of 69.44 and a beta of 1.46.

Globant (NYSE:GLOBGet Rating) last posted its quarterly earnings results on Thursday, August 18th. The information technology services provider reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.02. The firm had revenue of $429.30 million during the quarter, compared to the consensus estimate of $426.22 million. Globant had a net margin of 8.26% and a return on equity of 11.53%. The company’s revenue was up 40.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.71 earnings per share. On average, analysts forecast that Globant S.A. will post 4.06 earnings per share for the current year.

Globant Company 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.

See Also

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.