Globant S.A. (NYSE:GLOB) Shares Sold by FourThought Financial Partners LLC

FourThought Financial Partners LLC reduced its stake in shares of Globant S.A. (NYSE:GLOB) by 4.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,492 shares of the information technology services provider’s stock after selling 113 shares during the quarter. FourThought Financial Partners LLC’s holdings in Globant were worth $534,000 at the end of the most recent quarter.

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

Globant Price Performance

Shares of GLOB opened at $156.22 on Wednesday. Globant S.A. has a one year low of $151.38 and a one year high of $238.32. The company has a 50-day moving average of $211.36 and a two-hundred day moving average of $210.54. The stock has a market cap of $6.73 billion, a price-to-earnings ratio of 41.99, a PEG ratio of 2.38 and a beta of 1.39.

Globant (NYSE:GLOB) last posted its quarterly earnings results on Thursday, February 20th. The information technology services provider reported $1.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.39). The company had revenue of $642.48 million during the quarter, compared to analysts’ expectations of $644.42 million. Globant had a return on equity of 11.83% and a net margin of 6.86%. Analysts anticipate that Globant S.A. will post 5.73 earnings per share for the current year.

Wall Street Analyst Weigh In

GLOB has been the topic of a number of recent research reports. Susquehanna initiated coverage on shares of Globant in a research note on Tuesday, December 17th. They issued a “positive” rating and a $255.00 price objective on the stock. Canaccord Genuity Group lowered their target price on shares of Globant from $205.00 to $165.00 and set a “hold” rating on the stock in a report on Monday. JPMorgan Chase & Co. lowered their target price on shares of Globant from $248.00 to $242.00 and set an “overweight” rating on the stock in a report on Friday, February 21st. Needham & Company LLC lowered their target price on shares of Globant from $265.00 to $220.00 and set a “buy” rating on the stock in a report on Friday, February 21st. Finally, Jefferies Financial Group lifted their target price on shares of Globant from $240.00 to $255.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $222.89.

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.