Globant S.A. (NYSE:GLOB) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D trimmed its stake in shares of Globant S.A. (NYSE:GLOB) by 29.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,176 shares of the information technology services provider’s stock after selling 11,232 shares during the period. State of New Jersey Common Pension Fund D owned about 0.06% of Globant worth $4,844,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GLOB. Accent Capital Management LLC acquired a new position in shares of Globant in the fourth quarter worth about $29,000. Ridgewood Investments LLC purchased a new position in shares of Globant in the 2nd quarter valued at about $31,000. BOKF NA raised its holdings in Globant by 15,800.0% in the 1st quarter. BOKF NA now owns 159 shares of the information technology services provider’s stock worth $32,000 after purchasing an additional 158 shares during the period. RiverPark Advisors LLC purchased a new position in Globant during the first quarter worth approximately $54,000. Finally, Principal Securities Inc. acquired a new stake in Globant in the fourth quarter valued at approximately $56,000. 91.60% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Jefferies Financial Group boosted their price target on shares of Globant from $235.00 to $240.00 and gave the stock a “buy” rating in a report on Monday, September 9th. Citigroup raised their price target on shares of Globant from $215.00 to $220.00 and gave the company a “buy” rating in a research note on Friday, July 12th. Deutsche Bank Aktiengesellschaft assumed coverage on Globant in a research note on Thursday, August 22nd. They set a “hold” rating and a $210.00 price objective for the company. Mizuho decreased their target price on Globant from $279.00 to $252.00 and set a “buy” rating on the stock in a research report on Wednesday, May 22nd. Finally, JPMorgan Chase & Co. boosted their price target on Globant from $226.00 to $237.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $222.90.

Globant Stock Performance

NYSE:GLOB opened at $197.00 on Tuesday. The stock has a 50 day moving average of $194.83 and a 200-day moving average of $187.47. The firm has a market capitalization of $8.49 billion, a PE ratio of 51.71, a price-to-earnings-growth ratio of 2.49 and a beta of 1.40. Globant S.A. has a 52 week low of $151.68 and a 52 week high of $251.50.

Globant (NYSE:GLOB) last issued its quarterly earnings data on Thursday, August 15th. The information technology services provider reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.01. Globant had a net margin of 7.39% and a return on equity of 11.68%. The firm had revenue of $587.46 million for the quarter, compared to the consensus estimate of $586.72 million. During the same period last year, the firm posted $1.04 EPS. Globant’s quarterly revenue was up 18.1% compared to the same quarter last year. As a group, analysts predict that Globant S.A. will post 5.01 EPS 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.