Globant S.A. (NYSE:GLOB) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lessened its position in Globant S.A. (NYSE:GLOB - Free Report) by 31.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,062 shares of the information technology services provider's stock after selling 8,798 shares during the period. Charles Schwab Investment Management Inc.'s holdings in Globant were worth $4,087,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Globant during the third quarter worth about $11,145,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Globant by 18.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 53,816 shares of the information technology services provider's stock worth $10,663,000 after acquiring an additional 8,427 shares during the period. LGT Group Foundation acquired a new stake in shares of Globant in the fourth quarter worth approximately $1,583,000. Principal Financial Group Inc. grew its holdings in Globant by 121.3% in the third quarter. Principal Financial Group Inc. now owns 30,351 shares of the information technology services provider's stock valued at $6,014,000 after purchasing an additional 16,639 shares during the period. Finally, Diversified Trust Co acquired a new position in Globant during the fourth quarter worth approximately $545,000. Hedge funds and other institutional investors own 91.60% of the company's stock.

Globant Trading Down 6.3 %

NYSE:GLOB traded down $7.92 on Friday, reaching $118.48. The stock had a trading volume of 1,084,513 shares, compared to its average volume of 558,663. The company has a 50-day moving average of $174.61 and a 200 day moving average of $200.39. The stock has a market cap of $5.22 billion, a P/E ratio of 31.85, a price-to-earnings-growth ratio of 2.38 and a beta of 1.47. Globant S.A. has a 12-month low of $117.61 and a 12-month high of $238.32.

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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 (EPS) for the quarter, missing analysts' consensus estimates of $1.75 by ($0.39). The company had revenue of $642.48 million during the quarter, compared to analyst estimates of $644.42 million. Globant had a net margin of 6.86% and a return on equity of 11.83%. On average, equities analysts predict that Globant S.A. will post 5.73 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Redburn Atlantic upgraded shares of Globant from a "sell" rating to a "neutral" rating and lifted their price target for the company from $140.00 to $150.00 in a report on Tuesday, February 25th. Scotiabank reduced their target price on Globant from $220.00 to $170.00 and set a "sector perform" rating on the stock in a report on Monday, February 24th. StockNews.com lowered Globant from a "hold" rating to a "sell" rating in a research note on Saturday. Jefferies Financial Group raised their price objective on Globant from $240.00 to $255.00 and gave the stock a "buy" rating in a report on Tuesday, January 21st. Finally, 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 report on Monday, February 24th. One analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $219.71.

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.