Capital International Investors Has $364.72 Million Stock Position in Globant S.A. (NYSE:GLOB)

Capital International Investors raised its position in Globant S.A. (NYSE:GLOB - Free Report) by 13.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,700,519 shares of the information technology services provider's stock after buying an additional 197,064 shares during the quarter. Capital International Investors owned about 3.95% of Globant worth $364,723,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Barclays PLC lifted its stake in Globant by 132.9% during 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 lifted its position in shares of Globant by 26.2% during the 3rd 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 acquired a new stake in Globant in the third quarter valued at about $40,000. Franklin Resources Inc. raised its stake 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 acquiring an additional 71 shares in the last quarter. Finally, Oddo BHF Asset Management Sas bought a new position in shares of Globant in the third quarter worth about $10,814,000. 91.60% of the stock is currently owned by institutional investors and hedge funds.

Globant Stock Up 5.5 %

Globant stock traded up $6.14 during trading hours on Thursday, reaching $118.38. 506,475 shares of the company's stock were exchanged, compared to its average volume of 600,506. The firm's 50 day simple moving average is $132.24 and its 200 day simple moving average is $188.14. Globant S.A. has a twelve month low of $96.23 and a twelve month high of $238.32. The firm has a market capitalization of $5.21 billion, a PE ratio of 31.86, a PEG ratio of 2.38 and a beta of 1.50.

Globant (NYSE:GLOB - Get Free Report) last issued its 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). The business had revenue of $642.48 million during the quarter, compared to the consensus estimate of $644.42 million. Globant had a return on equity of 11.83% and a net margin of 6.86%. Analysts anticipate that Globant S.A. will post 5.73 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on GLOB. JPMorgan Chase & Co. dropped their price objective on shares of Globant from $248.00 to $242.00 and set an "overweight" rating for the company in a research note on Friday, February 21st. Piper Sandler cut their price objective on Globant from $230.00 to $154.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Needham & Company LLC restated a "buy" rating and set a $220.00 price objective on shares of Globant in a research report on Wednesday, March 12th. UBS Group dropped their target price on Globant from $217.00 to $190.00 and set a "neutral" rating for the company in a research report on Wednesday, February 26th. Finally, Susquehanna cut their price target on Globant from $225.00 to $160.00 and set a "positive" rating on the stock in a research note on Wednesday. One 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. According to data from MarketBeat, Globant currently has an average rating of "Moderate Buy" and an average price target of $205.88.

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.