Globant S.A. (NYSE:GLOB) Shares Sold by Susquehanna International Securities Ltd.

Susquehanna International Securities Ltd. trimmed its holdings in Globant S.A. (NYSE:GLOB) by 37.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,528 shares of the information technology services provider’s stock after selling 2,656 shares during the period. Globant accounts for about 0.4% of Susquehanna International Securities Ltd.’s holdings, making the stock its 25th biggest holding. Susquehanna International Securities Ltd.’s holdings in Globant were worth $914,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Accent Capital Management LLC acquired a new stake in Globant in the 4th quarter valued at about $29,000. RiverPark Advisors LLC purchased a new position in Globant during the first quarter worth approximately $54,000. Principal Securities Inc. acquired a new position in Globant during the fourth quarter worth $56,000. GAMMA Investing LLC acquired a new position in Globant during the fourth quarter worth $68,000. Finally, CWM LLC grew its holdings in Globant by 13.5% in the 4th quarter. CWM LLC now owns 572 shares of the information technology services provider’s stock valued at $136,000 after buying an additional 68 shares in the last quarter. 91.60% of the stock is owned by hedge funds and other institutional investors.

Globant Stock Up 1.9 %

GLOB stock traded up $3.65 during midday trading on Friday, hitting $194.16. The company’s stock had a trading volume of 726,076 shares, compared to its average volume of 575,892. The firm has a 50-day simple moving average of $170.45 and a 200-day simple moving average of $199.60. The firm has a market capitalization of $8.37 billion, a P/E ratio of 50.96, a PEG ratio of 2.00 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.

Globant (NYSE:GLOB) last released its earnings results on Thursday, May 16th. The information technology services provider reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.18 by $0.01. Globant had a return on equity of 11.60% and a net margin of 7.62%. The firm had revenue of $571.08 million during the quarter, compared to analyst estimates of $570.72 million. On average, sell-side analysts expect that Globant S.A. will post 5 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Mizuho lowered their price target on shares of Globant from $279.00 to $252.00 and set a “buy” rating on the stock in a research report on Wednesday, May 22nd. Canaccord Genuity Group dropped their price target on shares of Globant from $230.00 to $175.00 and set a “hold” rating for the company in a research note on Friday, May 17th. StockNews.com upgraded shares of Globant from a “sell” rating to a “hold” rating in a report on Tuesday, May 21st. Redburn Atlantic started coverage on Globant in a report on Friday, May 24th. They issued a “sell” rating and a $135.00 price objective on the stock. Finally, Scotiabank cut their target price on Globant from $200.00 to $190.00 and set a “sector perform” rating for the company in a research note on Friday, May 17th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.