Benjamin Edwards Inc. Sells 82 Shares of Globant S.A. (NYSE:GLOB)

Benjamin Edwards Inc. reduced its stake in shares of Globant S.A. (NYSE:GLOB) by 7.9% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 961 shares of the information technology services provider’s stock after selling 82 shares during the period. Benjamin Edwards Inc.’s holdings in Globant were worth $171,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GLOB. Accent Capital Management LLC acquired a new stake in Globant during the 4th quarter worth about $29,000. Ridgewood Investments LLC acquired a new stake in Globant during the second quarter worth approximately $31,000. BOKF NA increased its holdings in Globant by 15,800.0% in the first quarter. BOKF NA now owns 159 shares of the information technology services provider’s stock worth $32,000 after purchasing an additional 158 shares in the last quarter. RiverPark Advisors LLC bought a new stake in Globant in the first quarter worth approximately $54,000. Finally, Principal Securities Inc. acquired a new position in Globant in the fourth quarter valued at approximately $56,000. 91.60% of the stock is owned by institutional investors and hedge funds.

Globant Price Performance

Shares of GLOB stock opened at $189.10 on Friday. Globant S.A. has a one year low of $151.68 and a one year high of $251.50. The company’s fifty day moving average price is $195.34 and its 200-day moving average price is $186.95. The company has a market capitalization of $8.15 billion, a price-to-earnings ratio of 49.63, a PEG ratio of 2.49 and a beta of 1.40.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. UBS Group reaffirmed a “neutral” rating and issued a $235.00 price target (up from $225.00) on shares of Globant in a research note on Tuesday, August 20th. Jefferies Financial Group boosted their target price on Globant from $235.00 to $240.00 and gave the company a “buy” rating in a research report on Monday, September 9th. Canaccord Genuity Group increased their price target on Globant from $175.00 to $205.00 and gave the stock a “hold” rating in a report on Wednesday, August 21st. Deutsche Bank Aktiengesellschaft assumed coverage on Globant in a report on Thursday, August 22nd. They set a “hold” rating and a $210.00 price objective for the company. Finally, StockNews.com cut Globant from a “hold” rating to a “sell” rating in a report on Tuesday, August 27th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $222.90.

Globant Company 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.