Capital Research Global Investors Has $48.93 Million Stock Holdings in Globant S.A. (NYSE:GLOB)

Capital Research Global Investors trimmed its holdings in shares of Globant S.A. (NYSE:GLOB - Free Report) by 18.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 228,179 shares of the information technology services provider's stock after selling 51,530 shares during the quarter. Capital Research Global Investors owned 0.53% of Globant worth $48,926,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP grew its stake in shares of Globant by 6.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 539,922 shares of the information technology services provider's stock worth $115,778,000 after purchasing an additional 32,534 shares during the last quarter. First Trust Advisors LP grew its position in shares of Globant by 77.9% in the 4th quarter. First Trust Advisors LP now owns 43,016 shares of the information technology services provider's stock valued at $9,223,000 after buying an additional 18,842 shares during the last quarter. Commerce Bank increased its stake in shares of Globant by 8.8% in the fourth quarter. Commerce Bank now owns 1,873 shares of the information technology services provider's stock valued at $402,000 after buying an additional 151 shares during the period. Capital Group Private Client Services Inc. raised its position in shares of Globant by 2.5% during the fourth quarter. Capital Group Private Client Services Inc. now owns 87,354 shares of the information technology services provider's stock worth $18,730,000 after acquiring an additional 2,145 shares during the last quarter. Finally, Capital International Investors lifted its stake in shares of Globant by 13.1% in the fourth quarter. Capital International Investors now owns 1,700,519 shares of the information technology services provider's stock worth $364,723,000 after acquiring an additional 197,064 shares during the period. 91.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have issued reports on GLOB shares. Jefferies Financial Group raised their price target on shares of Globant from $240.00 to $255.00 and gave the stock a "buy" rating in a report on Tuesday, January 21st. Needham & Company LLC restated a "buy" rating and issued a $220.00 target price on shares of Globant in a report on Wednesday, March 12th. StockNews.com downgraded Globant from a "hold" rating to a "sell" rating in a report on Monday, April 14th. Piper Sandler cut their target price on Globant from $230.00 to $154.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Finally, JPMorgan Chase & Co. lowered their target price on Globant from $248.00 to $242.00 and set an "overweight" rating for the company in a report on Friday, February 21st. One analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, Globant currently has a consensus rating of "Moderate Buy" and an average target price of $209.94.

Globant Stock Performance

Shares of GLOB stock opened at $104.21 on Tuesday. The company has a market capitalization of $4.59 billion, a price-to-earnings ratio of 28.01, a PEG ratio of 2.38 and a beta of 1.50. Globant S.A. has a 52-week low of $96.23 and a 52-week high of $238.32. The company has a 50-day simple moving average of $136.95 and a two-hundred day simple moving average of $189.26.

Globant (NYSE:GLOB - Get Free Report) last released its earnings results on Thursday, February 20th. The information technology services provider reported $1.36 earnings per share (EPS) for the quarter, missing the consensus estimate 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 net margin of 6.86% and a return on equity of 11.83%. On average, sell-side analysts forecast that Globant S.A. will post 5.73 EPS for the current fiscal year.

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.

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