Commonwealth Equity Services LLC Sells 227 Shares of Globant S.A. (NYSE:GLOB)

Commonwealth Equity Services LLC reduced its stake in shares of Globant S.A. (NYSE:GLOB) by 4.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,920 shares of the information technology services provider’s stock after selling 227 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Globant were worth $1,055,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of GLOB. Jupiter Asset Management Ltd. lifted its holdings in Globant by 1.1% during the 4th quarter. Jupiter Asset Management Ltd. now owns 69,483 shares of the information technology services provider’s stock valued at $14,899,000 after purchasing an additional 780 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in Globant by 3,513.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 831 shares of the information technology services provider’s stock valued at $178,000 after buying an additional 808 shares in the last quarter. HighTower Advisors LLC grew its holdings in shares of Globant by 13.3% during the fourth quarter. HighTower Advisors LLC now owns 6,483 shares of the information technology services provider’s stock worth $1,390,000 after buying an additional 759 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Globant by 25.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 70,370 shares of the information technology services provider’s stock worth $15,089,000 after buying an additional 14,122 shares in the last quarter. Finally, Amundi grew its stake in shares of Globant by 209.2% in the fourth quarter. Amundi now owns 2,718 shares of the information technology services provider’s stock valued at $580,000 after buying an additional 1,839 shares in the last quarter. Institutional investors own 91.60% of the company’s stock.

Globant Stock Down 0.7 %

Globant stock opened at $117.70 on Tuesday. Globant S.A. has a 52 week low of $114.18 and a 52 week high of $238.32. The stock has a market cap of $5.18 billion, a price-to-earnings ratio of 31.64, a PEG ratio of 2.38 and a beta of 1.47. The business has a 50-day simple moving average of $172.69 and a 200 day simple moving average of $199.83.

Globant (NYSE:GLOB) last posted its quarterly earnings results on Thursday, February 20th. The information technology services provider reported $1.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.75 by ($0.39). The company had revenue of $642.48 million for the quarter, compared to the consensus estimate of $644.42 million. Globant had a return on equity of 11.83% and a net margin of 6.86%. On average, research analysts anticipate that Globant S.A. will post 5.73 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently commented on GLOB shares. StockNews.com lowered shares of Globant from a “hold” rating to a “sell” rating in a research note on Saturday. Scotiabank reduced their price target on Globant from $220.00 to $170.00 and set a “sector perform” rating on the stock in a report on Monday, February 24th. JPMorgan Chase & Co. reduced their price objective on shares of Globant from $248.00 to $242.00 and set an “overweight” rating on the stock in a research note on Friday, February 21st. UBS Group decreased their price target on shares of Globant from $217.00 to $190.00 and set a “neutral” rating for the company in a research note on Wednesday, February 26th. Finally, Canaccord Genuity Group cut their price target on Globant from $205.00 to $165.00 and set a “hold” rating for the company in a research note on Monday, February 24th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $219.71.

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.