Globant S.A. (NYSE:GLOB) Shares Sold by Kovitz Investment Group Partners LLC

Kovitz Investment Group Partners LLC trimmed its position in Globant S.A. (NYSE:GLOB) by 9.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,497 shares of the information technology services provider’s stock after selling 346 shares during the quarter. Kovitz Investment Group Partners LLC’s holdings in Globant were worth $750,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in GLOB. Voya Investment Management LLC lifted its stake in shares of Globant by 17.1% in the 4th quarter. Voya Investment Management LLC now owns 310,270 shares of the information technology services provider’s stock worth $66,528,000 after acquiring an additional 45,403 shares during the period. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Globant by 30.8% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 316,183 shares of the information technology services provider’s stock valued at $67,796,000 after purchasing an additional 74,447 shares in the last quarter. MGO One Seven LLC boosted its position in Globant by 38.7% during the 4th quarter. MGO One Seven LLC now owns 1,796 shares of the information technology services provider’s stock worth $385,000 after acquiring an additional 501 shares during the period. SIH Partners LLLP acquired a new stake in shares of Globant during the fourth quarter worth approximately $552,000. Finally, Stifel Financial Corp grew its holdings in shares of Globant by 10.4% during the 4th quarter. Stifel Financial Corp now owns 46,962 shares of the information technology services provider’s stock valued at $10,070,000 after acquiring an additional 4,433 shares in the last quarter. Institutional investors own 91.60% of the company’s stock.

Globant Trading Down 1.4 %

Shares of NYSE GLOB opened at $117.44 on Thursday. The firm’s 50-day moving average is $123.55 and its 200-day moving average is $185.10. The firm has a market capitalization of $5.17 billion, a PE ratio of 31.57, a price-to-earnings-growth ratio of 2.38 and a beta of 1.50. Globant S.A. has a 1 year low of $96.23 and a 1 year high of $238.32.

Globant (NYSE:GLOB) last issued its earnings results 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). Globant had a net margin of 6.86% and a return on equity of 11.83%. The firm had revenue of $642.48 million during the quarter, compared to the consensus estimate of $644.42 million. As a group, equities research analysts anticipate that Globant S.A. will post 5.73 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

GLOB has been the topic of a number of research reports. Scotiabank dropped their price objective on Globant from $170.00 to $140.00 and set a “sector perform” rating on the stock in a report on Tuesday. Jefferies Financial Group raised their target price on Globant from $240.00 to $255.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. Susquehanna cut their price objective on shares of Globant from $225.00 to $160.00 and set a “positive” rating for the company in a research report on Wednesday, April 23rd. StockNews.com downgraded shares of Globant from a “hold” rating to a “sell” rating in a research note on Friday, April 25th. Finally, UBS Group lowered their price objective on Globant from $217.00 to $190.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $204.00.

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.