Oppenheimer Asset Management Inc. Sells 2,169 Shares of Globant S.A. (NYSE:GLOB)

Oppenheimer Asset Management Inc. trimmed its holdings in Globant S.A. (NYSE:GLOB) by 2.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 92,658 shares of the information technology services provider’s stock after selling 2,169 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Globant were worth $19,868,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Creative Planning lifted its position in Globant by 20.5% in the third quarter. Creative Planning now owns 2,062 shares of the information technology services provider’s stock worth $409,000 after purchasing an additional 351 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Globant in the third quarter worth $11,145,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Globant by 18.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 53,816 shares of the information technology services provider’s stock valued at $10,663,000 after acquiring an additional 8,427 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Globant by 121.3% during the third quarter. Principal Financial Group Inc. now owns 30,351 shares of the information technology services provider’s stock valued at $6,014,000 after acquiring an additional 16,639 shares during the period. Finally, Brown Brothers Harriman & Co. lifted its holdings in shares of Globant by 32.1% during the third quarter. Brown Brothers Harriman & Co. now owns 204,135 shares of the information technology services provider’s stock valued at $40,447,000 after acquiring an additional 49,597 shares during the period. 91.60% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on GLOB shares. Redburn Atlantic raised Globant from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $140.00 to $150.00 in a report on Tuesday. Needham & Company LLC cut their price objective on Globant from $265.00 to $220.00 and set a “buy” rating for the company in a report on Friday, February 21st. TD Cowen lifted their price objective on Globant from $230.00 to $240.00 and gave the company a “buy” rating in a report on Friday, November 15th. Jefferies Financial Group lifted their price objective on Globant from $240.00 to $255.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. Finally, UBS Group cut their price objective on Globant from $217.00 to $190.00 and set a “neutral” rating for the company in a report on Wednesday. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $221.39.

Globant Price Performance

Shares of GLOB stock opened at $153.01 on Thursday. The stock has a market cap of $6.59 billion, a PE ratio of 41.13, a price-to-earnings-growth ratio of 2.38 and a beta of 1.39. The stock has a 50-day moving average of $210.10 and a 200-day moving average of $210.14. Globant S.A. has a one year low of $151.38 and a one year 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 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.75 by ($0.39). The business had revenue of $642.48 million during the quarter, compared to analyst estimates of $644.42 million. Globant had a net margin of 6.86% and a return on equity of 11.83%. As a group, research analysts anticipate that Globant S.A. will post 5.73 earnings per share 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.