Globant S.A. (NYSE:GLOB) Shares Sold by Comgest Global Investors S.A.S.

Comgest Global Investors S.A.S. cut its holdings in shares of Globant S.A. (NYSE:GLOB - Free Report) by 6.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 212,409 shares of the information technology services provider's stock after selling 15,223 shares during the quarter. Globant comprises approximately 0.6% of Comgest Global Investors S.A.S.'s portfolio, making the stock its 26th biggest holding. Comgest Global Investors S.A.S. owned approximately 0.49% of Globant worth $42,087,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in GLOB. BOKF NA lifted its stake in shares of Globant by 15,800.0% in the 1st quarter. BOKF NA now owns 159 shares of the information technology services provider's stock valued at $32,000 after purchasing an additional 158 shares in the last quarter. Quarry LP lifted its stake in shares of Globant by 529.6% in the 2nd quarter. Quarry LP now owns 170 shares of the information technology services provider's stock valued at $30,000 after purchasing an additional 143 shares in the last quarter. Ridgewood Investments LLC acquired a new position in shares of Globant in the 2nd quarter valued at about $31,000. ORG Partners LLC lifted its stake in shares of Globant by 65.5% in the 3rd quarter. ORG Partners LLC now owns 192 shares of the information technology services provider's stock valued at $38,000 after purchasing an additional 76 shares in the last quarter. Finally, American National Bank & Trust lifted its stake in shares of Globant by 430.2% in the 3rd quarter. American National Bank & Trust now owns 228 shares of the information technology services provider's stock valued at $45,000 after purchasing an additional 185 shares in the last quarter. 91.60% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on GLOB shares. Jefferies Financial Group boosted their price target on Globant from $235.00 to $240.00 and gave the stock a "buy" rating in a research report on Monday, September 9th. Canaccord Genuity Group boosted their price target on Globant from $175.00 to $205.00 and gave the stock a "hold" rating in a research report on Wednesday, August 21st. TD Cowen boosted their price target on Globant from $230.00 to $240.00 and gave the stock a "buy" rating in a research report on Friday. JPMorgan Chase & Co. boosted their price target on Globant from $237.00 to $248.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 30th. Finally, Piper Sandler reduced their price target on Globant from $240.00 to $237.00 and set an "overweight" rating on the stock in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, Globant currently has an average rating of "Moderate Buy" and an average target price of $228.50.

Globant Stock Performance

Shares of NYSE GLOB traded down $25.50 during trading on Friday, reaching $203.29. The stock had a trading volume of 1,348,800 shares, compared to its average volume of 483,667. Globant S.A. has a one year low of $151.68 and a one year high of $251.50. The stock has a market cap of $8.76 billion, a PE ratio of 53.04, a P/E/G ratio of 2.91 and a beta of 1.39. The firm's 50 day moving average price is $208.98 and its two-hundred day moving average price is $191.01.

Globant (NYSE:GLOB - Get Free Report) last issued its quarterly earnings data on Thursday, August 15th. The information technology services provider reported $1.51 EPS for the quarter, topping analysts' consensus estimates of $1.50 by $0.01. The firm had revenue of $587.46 million during the quarter, compared to the consensus estimate of $586.72 million. Globant had a return on equity of 11.68% and a net margin of 7.39%. The firm's revenue was up 18.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.04 EPS. On average, research analysts expect that Globant S.A. will post 5.06 earnings per share 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.