Globant S.A. (NYSE:GLOB) Shares Sold by Atria Wealth Solutions Inc.

Atria Wealth Solutions Inc. lessened its stake in Globant S.A. (NYSE:GLOB) by 5.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,289 shares of the information technology services provider’s stock after selling 195 shares during the period. Atria Wealth Solutions Inc.’s holdings in Globant were worth $705,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of GLOB. Victory Capital Management Inc. boosted its stake in Globant by 1,817.5% in the third quarter. Victory Capital Management Inc. now owns 1,509,853 shares of the information technology services provider’s stock valued at $299,162,000 after acquiring an additional 1,431,112 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Globant by 6.9% during the third quarter. JPMorgan Chase & Co. now owns 2,368,608 shares of the information technology services provider’s stock worth $469,316,000 after buying an additional 153,385 shares during the period. abrdn plc boosted its stake in shares of Globant by 36.7% during the fourth quarter. abrdn plc now owns 470,150 shares of the information technology services provider’s stock worth $101,564,000 after buying an additional 126,333 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Globant by 315.8% during the fourth quarter. Principal Financial Group Inc. now owns 126,199 shares of the information technology services provider’s stock worth $27,060,000 after buying an additional 95,848 shares during the period. Finally, Wasatch Advisors LP boosted its stake in shares of Globant by 2.6% during the third quarter. Wasatch Advisors LP now owns 3,480,129 shares of the information technology services provider’s stock worth $689,553,000 after buying an additional 88,829 shares during the period. Institutional investors and hedge funds own 91.60% of the company’s stock.

Globant Price Performance

Shares of GLOB opened at $156.22 on Wednesday. The firm has a 50 day simple moving average of $211.36 and a 200-day simple moving average of $210.54. Globant S.A. has a 1-year low of $151.38 and a 1-year high of $238.32. The stock has a market cap of $6.73 billion, a price-to-earnings ratio of 41.99, a price-to-earnings-growth ratio of 2.38 and a beta of 1.39.

Globant (NYSE:GLOB) last issued its quarterly earnings data on Thursday, February 20th. The information technology services provider reported $1.36 earnings per share for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.39). Globant had a return on equity of 11.83% and a net margin of 6.86%. The business had revenue of $642.48 million for the quarter, compared to analysts’ expectations of $644.42 million. On average, equities analysts expect that Globant S.A. will post 5.73 earnings per share for the current fiscal year.

Analysts Set New Price Targets

GLOB has been the subject of several recent research reports. Redburn Atlantic upgraded shares of Globant from a “sell” rating to a “neutral” rating and increased their target price for the stock from $140.00 to $150.00 in a research note on Tuesday. Canaccord Genuity Group decreased their target price on shares of Globant from $205.00 to $165.00 and set a “hold” rating for the company in a research note on Monday. Susquehanna initiated coverage on shares of Globant in a research note on Tuesday, December 17th. They set a “positive” rating and a $255.00 target price for the company. JPMorgan Chase & Co. decreased their target price on shares of Globant from $248.00 to $242.00 and set an “overweight” rating for the company in a research note on Friday, February 21st. Finally, StockNews.com raised shares of Globant from a “sell” rating to a “hold” rating in a report on Sunday, November 24th. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Globant has a consensus rating of “Moderate Buy” and an average target price of $222.89.

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.