Artisan Partners Limited Partnership Sells 26,241 Shares of Globant S.A. (NYSE:GLOB)

Artisan Partners Limited Partnership lessened its holdings in shares of Globant S.A. (NYSE:GLOB) by 19.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 108,541 shares of the information technology services provider’s stock after selling 26,241 shares during the period. Artisan Partners Limited Partnership’s holdings in Globant were worth $23,273,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Centricity Wealth Management LLC bought a new position in Globant during the 4th quarter worth about $38,000. Kestra Investment Management LLC bought a new position in shares of Globant during the fourth quarter worth about $38,000. Wilmington Savings Fund Society FSB bought a new stake in Globant in the 3rd quarter valued at approximately $40,000. Van Berkom & Associates Inc. acquired a new position in Globant during the 4th quarter worth approximately $45,000. Finally, Promus Capital LLC bought a new position in shares of Globant during the 4th quarter worth approximately $64,000. 91.60% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently commented on GLOB shares. Needham & Company LLC restated a “buy” rating and set a $220.00 target price on shares of Globant in a report on Wednesday, March 12th. Piper Sandler decreased their price objective on Globant from $237.00 to $230.00 and set an “overweight” rating for the company in a report on Friday, February 21st. Jefferies Financial Group upped their target price on Globant from $240.00 to $255.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. Susquehanna assumed coverage on Globant in a research note on Tuesday, December 17th. They issued a “positive” rating and a $255.00 price target for the company. Finally, Canaccord Genuity Group dropped their price objective on Globant from $205.00 to $165.00 and set a “hold” rating on the stock in a research note on Monday, February 24th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Globant has a consensus rating of “Moderate Buy” and a consensus target price of $219.71.

Globant Price Performance

Shares of NYSE GLOB opened at $118.48 on Friday. The firm has a market cap of $5.22 billion, a price-to-earnings ratio of 31.85, a P/E/G ratio of 2.38 and a beta of 1.47. The stock’s fifty day moving average price is $174.61 and its two-hundred day moving average price is $200.38. Globant S.A. has a one year low of $117.61 and a one year high of $238.32.

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 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 the consensus estimate of $644.42 million. On average, equities analysts anticipate that Globant S.A. will post 5.73 earnings per share for the current fiscal year.

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.