Globant S.A. (NYSE:GLOB) Shares Sold by Capital International Ltd. CA

Capital International Ltd. CA reduced its position in shares of Globant S.A. (NYSE:GLOB) by 25.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,933 shares of the information technology services provider’s stock after selling 2,330 shares during the period. Capital International Ltd. CA’s holdings in Globant were worth $1,400,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. GQG Partners LLC purchased a new position in Globant in the first quarter valued at approximately $1,345,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Globant in the first quarter valued at approximately $196,000. Clearbridge Investments LLC raised its holdings in Globant by 24.0% in the first quarter. Clearbridge Investments LLC now owns 264,598 shares of the information technology services provider’s stock valued at $53,422,000 after buying an additional 51,245 shares during the period. Seven Eight Capital LP purchased a new position in Globant in the first quarter valued at approximately $2,138,000. Finally, Summit Creek Advisors LLC purchased a new position in Globant in the first quarter valued at approximately $237,000. 91.60% of the stock is owned by institutional investors and hedge funds.

Globant Stock Performance

Shares of GLOB traded down $4.45 during midday trading on Friday, hitting $192.62. 625,028 shares of the stock traded hands, compared to its average volume of 517,277. Globant S.A. has a 1-year low of $151.68 and a 1-year high of $251.50. The firm has a market capitalization of $8.30 billion, a PE ratio of 50.56, a price-to-earnings-growth ratio of 1.98 and a beta of 1.41. The business’s 50 day moving average price is $173.56 and its two-hundred day moving average price is $197.34.

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

Analyst Ratings Changes

GLOB has been the topic of several research reports. Mizuho cut their price target on shares of Globant from $279.00 to $252.00 and set a “buy” rating on the stock in a report on Wednesday, May 22nd. JPMorgan Chase & Co. cut their price target on shares of Globant from $273.00 to $257.00 and set an “overweight” rating on the stock in a report on Thursday, May 2nd. Scotiabank dropped their price objective on shares of Globant from $200.00 to $190.00 and set a “sector perform” rating on the stock in a research note on Friday, May 17th. Wedbush dropped their price objective on shares of Globant from $250.00 to $200.00 and set an “outperform” rating on the stock in a research note on Friday, May 17th. Finally, Piper Sandler reiterated an “overweight” rating and set a $238.00 price objective on shares of Globant in a research note on Tuesday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $216.72.

Globant 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.