Capital World Investors Reduces Stock Holdings in Globant S.A. (NYSE:GLOB)

Capital World Investors lessened its stake in Globant S.A. (NYSE:GLOB - Free Report) by 40.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 183,000 shares of the information technology services provider's stock after selling 123,881 shares during the quarter. Capital World Investors owned about 0.42% of Globant worth $39,239,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. GQG Partners LLC acquired a new stake in Globant during the 4th quarter valued at $84,906,000. Canada Pension Plan Investment Board purchased a new stake in shares of Globant during the fourth quarter worth about $60,913,000. JPMorgan Chase & Co. lifted its stake in shares of Globant by 8.6% in the fourth quarter. JPMorgan Chase & Co. now owns 2,572,080 shares of the information technology services provider's stock worth $551,506,000 after acquiring an additional 203,472 shares in the last quarter. Capital International Investors boosted its holdings in 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 valued at $364,723,000 after purchasing an additional 197,064 shares during the last quarter. Finally, abrdn plc grew its stake in Globant by 36.7% during the 4th quarter. abrdn plc now owns 470,150 shares of the information technology services provider's stock valued at $101,564,000 after purchasing an additional 126,333 shares in the last quarter. Institutional investors and hedge funds own 91.60% of the company's stock.

Wall Street Analysts Forecast Growth

GLOB has been the subject of a number of recent analyst reports. Scotiabank decreased their price target on shares of Globant from $220.00 to $170.00 and set a "sector perform" rating for the company in a research report on Monday, February 24th. StockNews.com lowered shares of Globant from a "hold" rating to a "sell" rating in a research note on Monday, April 14th. UBS Group decreased their price target on Globant from $217.00 to $190.00 and set a "neutral" rating for the company in a research note on Wednesday, February 26th. Canaccord Genuity Group cut their price objective on Globant from $205.00 to $165.00 and set a "hold" rating on the stock in a research note on Monday, February 24th. Finally, Piper Sandler lowered their price target on Globant from $230.00 to $154.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $209.94.

Globant Trading Down 1.6 %

Shares of NYSE:GLOB opened at $104.21 on Tuesday. The firm's 50 day moving average is $136.95 and its two-hundred day moving average is $189.26. The firm has a market capitalization of $4.59 billion, a P/E 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.

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 (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 analyst estimates of $644.42 million. Globant had a return on equity of 11.83% and a net margin of 6.86%. Analysts predict that Globant S.A. will post 5.73 EPS for the current 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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