Globant S.A. (NYSE:GLOB) Stock Holdings Decreased by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its position in shares of Globant S.A. (NYSE:GLOB) by 83.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,938 shares of the information technology services provider’s stock after selling 68,218 shares during the period. Principal Financial Group Inc.’s holdings in Globant were worth $2,814,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Benjamin F. Edwards & Company Inc. increased its position in Globant by 3.9% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 2,140 shares of the information technology services provider’s stock valued at $432,000 after acquiring an additional 81 shares during the period. Verdence Capital Advisors LLC raised its position in shares of Globant by 36.0% during the 1st quarter. Verdence Capital Advisors LLC now owns 4,281 shares of the information technology services provider’s stock worth $864,000 after buying an additional 1,133 shares in the last quarter. Shaker Investments LLC OH increased its stake in shares of Globant by 7.7% during the first quarter. Shaker Investments LLC OH now owns 17,031 shares of the information technology services provider’s stock valued at $3,439,000 after acquiring an additional 1,221 shares during the period. Raymond James & Associates raised its stake in shares of Globant by 37.4% in the 1st quarter. Raymond James & Associates now owns 64,533 shares of the information technology services provider’s stock worth $13,029,000 after buying an additional 17,554 shares in the last quarter. Finally, Maryland State Retirement & Pension System acquired a new stake in shares of Globant in the first quarter valued at $631,000. 91.60% of the stock is currently owned by institutional investors.

Globant Stock Performance

NYSE:GLOB traded up $0.85 on Friday, hitting $177.25. 63,944 shares of the stock were exchanged, compared to its average volume of 506,431. The stock has a market capitalization of $7.64 billion, a price-to-earnings ratio of 46.30, a P/E/G ratio of 1.82 and a beta of 1.41. Globant S.A. has a 52 week low of $151.68 and a 52 week high of $251.50. The company’s 50-day moving average price is $170.21 and its 200 day moving average price is $202.14.

Globant (NYSE:GLOB) last announced its quarterly earnings data on Thursday, May 16th. The information technology services provider reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.18 by $0.01. The business had revenue of $571.08 million during the quarter, compared to analysts’ expectations of $570.72 million. Globant had a return on equity of 11.60% and a net margin of 7.62%. As a group, equities research analysts predict that Globant S.A. will post 5 earnings per share for the current year.

Analysts Set New Price Targets

GLOB has been the topic of several research reports. Citigroup dropped their price target on shares of Globant from $235.00 to $215.00 and set a “buy” rating on the stock in a research report on Friday, May 17th. Wedbush decreased their target price on Globant from $250.00 to $200.00 and set an “outperform” rating for the company in a research report on Friday, May 17th. TD Cowen dropped their price target on Globant from $235.00 to $220.00 and set a “buy” rating on the stock in a research report on Friday, May 17th. Mizuho dropped their target price on Globant from $279.00 to $252.00 and set a “buy” rating on the stock in a report on Wednesday, May 22nd. Finally, Canaccord Genuity Group lowered their price objective on Globant from $230.00 to $175.00 and set a “hold” rating on the stock in a report on Friday, May 17th. One research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $216.44.

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.