Globant S.A. (NYSE:GLOB) Shares Sold by Alliancebernstein L.P.

Alliancebernstein L.P. lessened its stake in shares of Globant S.A. (NYSE:GLOB - Free Report) by 2.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 104,382 shares of the information technology services provider's stock after selling 2,701 shares during the quarter. Alliancebernstein L.P. owned 0.24% of Globant worth $22,382,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. GQG Partners LLC purchased a new position in Globant in the 4th quarter valued at about $84,906,000. JPMorgan Chase & Co. increased its holdings in Globant by 8.6% during the 4th quarter. JPMorgan Chase & Co. now owns 2,572,080 shares of the information technology services provider's stock worth $551,506,000 after purchasing an additional 203,472 shares during the last quarter. abrdn plc increased its holdings in Globant by 36.7% during the 4th quarter. abrdn plc now owns 470,150 shares of the information technology services provider's stock worth $101,564,000 after purchasing an additional 126,333 shares during the last quarter. Victory Capital Management Inc. raised its holdings in Globant by 6.4% in the fourth quarter. Victory Capital Management Inc. now owns 1,606,110 shares of the information technology services provider's stock valued at $344,382,000 after acquiring an additional 96,257 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in Globant by 315.8% during the 4th quarter. Principal Financial Group Inc. now owns 126,199 shares of the information technology services provider's stock valued at $27,060,000 after acquiring an additional 95,848 shares during the last quarter. Hedge funds and other institutional investors own 91.60% of the company's stock.

Globant Trading Up 2.8 %

GLOB traded up $2.89 during trading hours on Friday, hitting $107.59. The company's stock had a trading volume of 576,846 shares, compared to its average volume of 590,874. The company has a 50-day simple moving average of $150.16 and a 200 day simple moving average of $193.09. The firm has a market capitalization of $4.74 billion, a PE ratio of 28.92, a PEG ratio of 2.38 and a beta of 1.50. Globant S.A. has a fifty-two week low of $96.23 and a fifty-two week high of $238.32.

Globant (NYSE:GLOB - Get Free Report) last issued 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 the consensus estimate of $644.42 million. Globant had a net margin of 6.86% and a return on equity of 11.83%. Research analysts expect that Globant S.A. will post 5.73 earnings per share for the current fiscal year.

Analyst Ratings Changes

GLOB has been the subject of a number of research reports. Jefferies Financial Group lifted their price target on Globant from $240.00 to $255.00 and gave the stock a "buy" rating in a research note on Tuesday, January 21st. Piper Sandler lowered their price target on Globant from $237.00 to $230.00 and set an "overweight" rating for the company in a report on Friday, February 21st. Redburn Atlantic upgraded Globant from a "sell" rating to a "neutral" rating and raised their price objective for the stock from $140.00 to $150.00 in a research note on Tuesday, February 25th. UBS Group lowered their target price on shares of Globant from $217.00 to $190.00 and set a "neutral" rating for the company in a research note on Wednesday, February 26th. Finally, Canaccord Genuity Group dropped 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, February 24th. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $214.69.

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.