Globant S.A. (NYSE:GLOB) Shares Purchased by Capital International Investors

Capital International Investors raised its position in Globant S.A. (NYSE:GLOB) by 13.1% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,700,519 shares of the information technology services provider’s stock after purchasing an additional 197,064 shares during the period. Capital International Investors’ holdings in Globant were worth $364,723,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Barclays PLC raised its holdings in Globant by 132.9% in the 3rd quarter. Barclays PLC now owns 22,537 shares of the information technology services provider’s stock valued at $4,467,000 after acquiring an additional 12,862 shares during the last quarter. Sanctuary Advisors LLC grew its position in shares of Globant by 26.2% in the third quarter. Sanctuary Advisors LLC now owns 3,312 shares of the information technology services provider’s stock valued at $656,000 after purchasing an additional 688 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Globant in the third quarter valued at approximately $40,000. Franklin Resources Inc. lifted its position in Globant by 0.6% during the third quarter. Franklin Resources Inc. now owns 12,800 shares of the information technology services provider’s stock worth $2,704,000 after buying an additional 71 shares in the last quarter. Finally, Oddo BHF Asset Management Sas acquired a new position in Globant during the third quarter worth $10,814,000. Institutional investors and hedge funds own 91.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on GLOB. UBS Group cut their target price on Globant from $217.00 to $190.00 and set a “neutral” rating for the company in a research note on Wednesday, February 26th. Piper Sandler decreased their target price on shares of Globant from $230.00 to $154.00 and set an “overweight” rating on the stock in a report on Wednesday. Scotiabank reduced their price target on shares of Globant from $220.00 to $170.00 and set a “sector perform” rating on the stock in a research report on Monday, February 24th. StockNews.com lowered Globant from a “hold” rating to a “sell” rating in a research report on Monday, April 14th. Finally, JPMorgan Chase & Co. reduced their target price on Globant from $248.00 to $242.00 and set an “overweight” rating on the stock in a research report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $209.94.

Globant Stock Performance

NYSE GLOB opened at $105.69 on Friday. Globant S.A. has a one year low of $96.23 and a one year high of $238.32. The firm has a 50 day simple moving average of $139.24 and a 200-day simple moving average of $190.00. The firm has a market cap of $4.65 billion, a price-to-earnings ratio of 28.41, a PEG ratio of 2.38 and a beta of 1.50.

Globant (NYSE:GLOB) last posted its quarterly earnings data on Thursday, February 20th. The information technology services provider reported $1.36 earnings per share for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.39). The company had revenue of $642.48 million for 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%. Equities analysts predict that Globant S.A. will post 5.73 EPS for the current fiscal 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.