Handelsbanken Fonder AB Sells 800 Shares of Globant S.A. (NYSE:GLOB)

Handelsbanken Fonder AB cut its holdings in shares of Globant S.A. (NYSE:GLOB) by 6.8% during the fourth quarter, Holdings Channel reports. The fund owned 11,000 shares of the information technology services provider’s stock after selling 800 shares during the period. Handelsbanken Fonder AB’s holdings in Globant were worth $2,359,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of GLOB. Equitable Trust Co. boosted its stake in Globant by 1.1% in the third quarter. Equitable Trust Co. now owns 4,550 shares of the information technology services provider’s stock worth $902,000 after purchasing an additional 50 shares in the last quarter. M&T Bank Corp increased its stake in shares of Globant by 3.8% in the third quarter. M&T Bank Corp now owns 1,641 shares of the information technology services provider’s stock valued at $326,000 after buying an additional 60 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of Globant by 0.6% in the third quarter. Franklin Resources Inc. now owns 12,800 shares of the information technology services provider’s stock valued at $2,704,000 after buying an additional 71 shares in the last quarter. Signaturefd LLC lifted its position in Globant by 46.0% during the 3rd quarter. Signaturefd LLC now owns 292 shares of the information technology services provider’s stock worth $58,000 after buying an additional 92 shares in the last quarter. Finally, National Bank of Canada FI grew its holdings in Globant by 3.3% during the 3rd quarter. National Bank of Canada FI now owns 3,816 shares of the information technology services provider’s stock worth $756,000 after acquiring an additional 122 shares during the last quarter. 91.60% of the stock is currently owned by institutional investors.

Globant Stock Performance

Shares of NYSE:GLOB opened at $154.03 on Tuesday. The company has a 50 day moving average price of $214.07 and a two-hundred day moving average price of $210.96. The company has a market capitalization of $6.64 billion, a PE ratio of 41.41, a PEG ratio of 2.38 and a beta of 1.39. Globant S.A. has a 52 week low of $151.38 and a 52 week high of $238.32.

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

Wall Street Analyst Weigh In

A number of brokerages have weighed in on GLOB. UBS Group dropped their target price on shares of Globant from $222.00 to $217.00 and set a “neutral” rating for the company in a research note on Monday, February 3rd. Canaccord Genuity Group dropped their price objective on shares of Globant from $205.00 to $165.00 and set a “hold” rating for the company in a research report on Monday. StockNews.com upgraded Globant from a “sell” rating to a “hold” rating in a research report on Sunday, November 24th. TD Cowen lifted their target price on Globant from $230.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Finally, Piper Sandler cut their price target on Globant from $237.00 to $230.00 and set an “overweight” rating on the stock in a research note on Friday. One analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $222.06.

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.