Rhumbline Advisers Sells 156 Shares of Globant S.A. (NYSE:GLOB)

Rhumbline Advisers reduced its stake in shares of Globant S.A. (NYSE:GLOB) by 0.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 45,519 shares of the information technology services provider’s stock after selling 156 shares during the period. Rhumbline Advisers owned 0.11% of Globant worth $9,760,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB bought a new stake in shares of Globant in the 3rd quarter valued at $40,000. Signaturefd LLC raised its stake in Globant by 46.0% during the third quarter. Signaturefd LLC now owns 292 shares of the information technology services provider’s stock worth $58,000 after buying an additional 92 shares during the last quarter. Van ECK Associates Corp lifted its holdings in Globant by 62.4% in the third quarter. Van ECK Associates Corp now owns 398 shares of the information technology services provider’s stock valued at $86,000 after buying an additional 153 shares during the period. Blue Trust Inc. boosted its position in Globant by 4,810.0% during the fourth quarter. Blue Trust Inc. now owns 491 shares of the information technology services provider’s stock valued at $105,000 after acquiring an additional 481 shares during the last quarter. Finally, PUREfi Wealth LLC acquired a new stake in Globant during the 4th quarter worth about $205,000. 91.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on GLOB shares. StockNews.com raised Globant from a “sell” rating to a “hold” rating in a research note on Sunday, November 24th. Needham & Company LLC dropped their price target on Globant from $265.00 to $220.00 and set a “buy” rating on the stock in a research note on Friday. Citigroup increased their price target on Globant from $240.00 to $251.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Susquehanna started coverage on shares of Globant in a research note on Tuesday, December 17th. They issued a “positive” rating and a $255.00 price objective for the company. Finally, Scotiabank cut their target price on shares of Globant from $220.00 to $170.00 and set a “sector perform” rating on the stock in a research note on Monday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, Globant currently has an average rating of “Moderate Buy” and a consensus target price of $222.06.

Globant Stock Up 1.5 %

Shares of Globant stock opened at $154.03 on Tuesday. Globant S.A. has a 52 week low of $151.38 and a 52 week high of $238.32. The business has a 50 day moving average price of $214.07 and a 200-day moving average price of $210.96. The company has a market cap of $6.64 billion, a PE ratio of 41.41, a price-to-earnings-growth ratio of 2.38 and a beta of 1.39.

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