Gilder Gagnon Howe & Co. LLC Trims Stock Position in Globant S.A. (NYSE:GLOB)

Gilder Gagnon Howe & Co. LLC decreased its holdings in Globant S.A. (NYSE:GLOB - Free Report) by 6.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 108,577 shares of the information technology services provider's stock after selling 8,085 shares during the quarter. Gilder Gagnon Howe & Co. LLC owned 0.25% of Globant worth $23,281,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. GQG Partners LLC bought a new stake in shares of Globant during the 4th quarter valued at $84,906,000. Canada Pension Plan Investment Board purchased a new stake in Globant in the fourth quarter worth about $60,913,000. JPMorgan Chase & Co. grew its stake in shares of Globant by 8.6% during the 4th quarter. JPMorgan Chase & Co. now owns 2,572,080 shares of the information technology services provider's stock valued at $551,506,000 after acquiring an additional 203,472 shares during the period. Capital International Investors raised its stake in Globant by 13.1% during the 4th 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. Finally, abrdn plc boosted its position in shares of Globant by 36.7% in the fourth quarter. abrdn plc now owns 470,150 shares of the information technology services provider's stock worth $101,564,000 after purchasing an additional 126,333 shares during the period. 91.60% of the stock is owned by hedge funds and other institutional investors.

Globant Trading Up 0.3 %

GLOB traded up $0.31 on Tuesday, hitting $119.04. 330,664 shares of the company were exchanged, compared to its average volume of 606,725. The firm has a 50-day moving average price of $126.07 and a two-hundred day moving average price of $186.03. Globant S.A. has a twelve month low of $96.23 and a twelve month high of $238.32. The company has a market cap of $5.24 billion, a price-to-earnings ratio of 32.00, a price-to-earnings-growth ratio of 2.38 and a beta of 1.50.

Globant (NYSE:GLOB - Get Free Report) last announced its quarterly earnings data 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). Globant had a net margin of 6.86% and a return on equity of 11.83%. The firm had revenue of $642.48 million during the quarter, compared to analyst estimates of $644.42 million. Equities analysts expect that Globant S.A. will post 5.73 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Redburn Atlantic upgraded Globant from a "sell" rating to a "neutral" rating and increased their price target for the stock from $140.00 to $150.00 in a research note on Tuesday, February 25th. Canaccord Genuity Group lowered their price target on Globant from $205.00 to $165.00 and set a "hold" rating on the stock in a report on Monday, February 24th. Jefferies Financial Group increased their price objective on shares of Globant from $240.00 to $255.00 and gave the company a "buy" rating in a report on Tuesday, January 21st. Scotiabank reduced their price target on shares of Globant from $170.00 to $140.00 and set a "sector perform" rating on the stock in a report on Tuesday. Finally, Piper Sandler dropped their price objective on shares of 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 given a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $204.00.

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.