Capital International Inc. CA Reduces Stock Position in Globant S.A. (NYSE:GLOB)

Capital International Inc. CA lowered its position in shares of Globant S.A. (NYSE:GLOB - Free Report) by 7.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 74,901 shares of the information technology services provider's stock after selling 6,404 shares during the quarter. Capital International Inc. CA owned 0.17% of Globant worth $16,060,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GLOB. Barclays PLC boosted its position in Globant by 132.9% in the third quarter. Barclays PLC now owns 22,537 shares of the information technology services provider's stock worth $4,467,000 after purchasing an additional 12,862 shares during the last quarter. Sanctuary Advisors LLC increased its holdings in Globant by 26.2% during the third quarter. Sanctuary Advisors LLC now owns 3,312 shares of the information technology services provider's stock worth $656,000 after buying an additional 688 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Globant in the third quarter worth about $40,000. Franklin Resources Inc. grew its position in shares of Globant by 0.6% during the 3rd quarter. Franklin Resources Inc. now owns 12,800 shares of the information technology services provider's stock valued at $2,704,000 after acquiring an additional 71 shares during the period. Finally, Oddo BHF Asset Management Sas purchased a new stake in shares of Globant during the 3rd quarter worth approximately $10,814,000. Hedge funds and other institutional investors own 91.60% of the company's stock.

Globant Trading Up 0.4 %

Shares of GLOB traded up $0.51 during midday trading on Friday, reaching $118.86. The stock had a trading volume of 311,385 shares, compared to its average volume of 603,301. The company has a market capitalization of $5.23 billion, a price-to-earnings ratio of 31.99, a price-to-earnings-growth ratio of 2.38 and a beta of 1.50. Globant S.A. has a 12-month low of $96.23 and a 12-month high of $238.32. The company's 50-day moving average is $130.12 and its 200 day moving average is $187.62.

Globant (NYSE:GLOB - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The information technology services provider reported $1.36 EPS for the quarter, missing analysts' consensus estimates of $1.75 by ($0.39). The business 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 forecast that Globant S.A. will post 5.73 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on GLOB. Canaccord Genuity Group decreased their target price on Globant from $205.00 to $165.00 and set a "hold" rating for the company in a research report on Monday, February 24th. Piper Sandler dropped their price objective on shares of Globant from $230.00 to $154.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Scotiabank lowered 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. Jefferies Financial Group raised their price objective on shares of Globant from $240.00 to $255.00 and gave the stock a "buy" rating in a report on Tuesday, January 21st. Finally, Susquehanna lowered their target price on shares of Globant from $225.00 to $160.00 and set a "positive" rating on the stock in a report on Wednesday. One 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.com, the company has an average rating of "Moderate Buy" and an average price target of $205.88.

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.