Artisan Partners Limited Partnership trimmed its position in shares of Globant S.A. (NYSE:GLOB - Free Report) by 19.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 108,541 shares of the information technology services provider's stock after selling 26,241 shares during the quarter. Artisan Partners Limited Partnership owned approximately 0.25% of Globant worth $23,273,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in the company. Centricity Wealth Management LLC purchased a new stake in shares of Globant in the fourth quarter valued at approximately $38,000. Kestra Investment Management LLC acquired a new stake in Globant in the 4th quarter valued at $38,000. Wilmington Savings Fund Society FSB purchased a new stake in Globant in the 3rd quarter worth $40,000. Van Berkom & Associates Inc. acquired a new position in Globant during the fourth quarter worth $45,000. Finally, Promus Capital LLC purchased a new position in Globant during the fourth quarter valued at $64,000. 91.60% of the stock is currently owned by institutional investors and hedge funds.
Globant Stock Performance
Shares of NYSE GLOB traded up $2.17 during mid-day trading on Wednesday, reaching $118.15. 223,803 shares of the company's stock were exchanged, compared to its average volume of 822,089. The firm has a market capitalization of $5.20 billion, a price-to-earnings ratio of 31.73, a PEG ratio of 2.38 and a beta of 1.47. Globant S.A. has a 52-week low of $114.00 and a 52-week high of $238.32. The company's 50-day moving average is $170.80 and its 200-day moving average is $199.26.
Globant (NYSE:GLOB - Get Free Report) last announced its quarterly earnings results 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). Globant had a net margin of 6.86% and a return on equity of 11.83%. The company had revenue of $642.48 million for the quarter, compared to analyst estimates of $644.42 million. As a group, equities analysts predict that Globant S.A. will post 5.73 earnings per share for the current fiscal year.
Analyst Ratings Changes
GLOB has been the topic of several research analyst reports. UBS Group lowered their price objective on Globant from $217.00 to $190.00 and set a "neutral" rating on the stock in a report on Wednesday, February 26th. Scotiabank decreased their price objective on Globant from $220.00 to $170.00 and set a "sector perform" rating on the stock in a report on Monday, February 24th. Piper Sandler dropped their target price on shares of Globant from $237.00 to $230.00 and set an "overweight" rating for the company in a report on Friday, February 21st. Redburn Atlantic raised shares of Globant from a "sell" rating to a "neutral" rating and raised their price target for the stock from $140.00 to $150.00 in a research note on Tuesday, February 25th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $220.00 price objective on shares of Globant in a research note on Wednesday, March 12th. One analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $219.71.
Check Out Our Latest Stock Analysis on GLOB
Globant Company Profile
(
Free Report)
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.
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