FourThought Financial LLC Cuts Stock Position in Globant S.A. (NYSE:GLOB)

FourThought Financial LLC cut its holdings in Globant S.A. (NYSE:GLOBGet Rating) by 4.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,609 shares of the information technology services provider’s stock after selling 78 shares during the quarter. FourThought Financial LLC’s holdings in Globant were worth $301,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. JPMorgan Chase & Co. increased its position in shares of Globant by 77.1% in the second quarter. JPMorgan Chase & Co. now owns 3,377,320 shares of the information technology services provider’s stock valued at $587,653,000 after buying an additional 1,469,846 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Globant by 150.2% in the third quarter. Price T Rowe Associates Inc. MD now owns 2,670,352 shares of the information technology services provider’s stock valued at $499,571,000 after buying an additional 1,602,875 shares in the last quarter. Sands Capital Management LLC increased its position in shares of Globant by 11.7% in the second quarter. Sands Capital Management LLC now owns 1,497,727 shares of the information technology services provider’s stock valued at $260,604,000 after buying an additional 156,312 shares in the last quarter. Riverbridge Partners LLC increased its position in shares of Globant by 9.1% during the third quarter. Riverbridge Partners LLC now owns 1,418,362 shares of the information technology services provider’s stock worth $265,347,000 after purchasing an additional 118,367 shares in the last quarter. Finally, Pendal Group Ltd purchased a new stake in shares of Globant during the third quarter worth approximately $256,020,000. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Globant Stock Down 1.1 %

Shares of Globant stock opened at $152.00 on Friday. Globant S.A. has a 52 week low of $145.42 and a 52 week high of $282.13. The business’s fifty day simple moving average is $165.37 and its 200-day simple moving average is $177.81. The firm has a market cap of $6.45 billion, a PE ratio of 43.68 and a beta of 1.43.

Globant (NYSE:GLOBGet Rating) last announced its quarterly earnings results on Thursday, February 16th. The information technology services provider reported $1.12 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.02). Globant had a net margin of 8.36% and a return on equity of 12.09%. The business had revenue of $490.72 million during the quarter, compared to analyst estimates of $489.67 million. As a group, equities analysts expect that Globant S.A. will post 4.63 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages recently commented on GLOB. KeyCorp dropped their price target on Globant from $291.00 to $232.00 and set an “overweight” rating for the company in a research report on Friday, November 18th. Piper Sandler boosted their price target on Globant from $198.00 to $204.00 and gave the stock an “overweight” rating in a research report on Friday, February 17th. StockNews.com began coverage on Globant in a research report on Thursday. They set a “hold” rating for the company. JPMorgan Chase & Co. dropped their price target on Globant from $224.00 to $221.00 and set an “overweight” rating for the company in a research report on Tuesday, February 14th. Finally, Cowen dropped their price target on Globant from $210.00 to $207.00 and set an “outperform” rating for the company in a research report on Friday, November 18th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Globant presently has an average rating of “Moderate Buy” and an average price target of $230.11.

Globant Profile

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Globant SA engages in the provision of information technology services. It includes application development, testing, infrastructure management, and application maintenance. The company was founded by Martín Migoya, Martín Gonzalo Umaran, Guibert Andrés Englebienne, and Néstor Augusto Nocetti in 2003 and is headquartered in Luxembourg.

Further Reading

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Institutional Ownership by Quarter for Globant (NYSE:GLOB)

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