Thrivent Financial for Lutherans Decreases Stock Holdings in Globant S.A. (NYSE:GLOB)

Thrivent Financial for Lutherans decreased its position in Globant S.A. (NYSE:GLOB - Free Report) by 5.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 64,125 shares of the information technology services provider's stock after selling 3,497 shares during the quarter. Thrivent Financial for Lutherans owned 0.15% of Globant worth $13,787,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Wasatch Advisors LP lifted its stake in Globant by 2.6% in the third quarter. Wasatch Advisors LP now owns 3,480,129 shares of the information technology services provider's stock worth $689,553,000 after purchasing an additional 88,829 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Globant by 6.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,368,608 shares of the information technology services provider's stock valued at $469,316,000 after acquiring an additional 153,385 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of Globant by 6.4% in the 4th quarter. Victory Capital Management Inc. now owns 1,606,110 shares of the information technology services provider's stock valued at $344,382,000 after acquiring an additional 96,257 shares during the last quarter. Jennison Associates LLC boosted its holdings in Globant by 0.6% during the 4th quarter. Jennison Associates LLC now owns 802,547 shares of the information technology services provider's stock valued at $172,082,000 after acquiring an additional 4,970 shares during the period. Finally, abrdn plc grew its position in Globant by 36.7% during the 4th quarter. abrdn plc now owns 470,150 shares of the information technology services provider's stock worth $101,564,000 after acquiring an additional 126,333 shares during the last quarter. 91.60% of the stock is currently owned by institutional investors.

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Analysts Set New Price Targets

A number of research firms have recently weighed in on GLOB. Susquehanna initiated coverage on Globant in a research note on Tuesday, December 17th. They set a "positive" rating and a $255.00 price objective for the company. Needham & Company LLC reissued a "buy" rating and set a $220.00 price target on shares of Globant in a research report on Wednesday, March 12th. Scotiabank decreased their price objective on shares of Globant from $220.00 to $170.00 and set a "sector perform" rating on the stock in a research report on Monday, February 24th. Jefferies Financial Group upped their price objective on shares of Globant from $240.00 to $255.00 and gave the company a "buy" rating in a research note on Tuesday, January 21st. Finally, Redburn Atlantic raised Globant from a "sell" rating to a "neutral" rating and raised their target price for the stock from $140.00 to $150.00 in a research note on Tuesday, February 25th. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $219.71.

Globant Stock Performance

Shares of GLOB traded down $2.47 during trading hours on Wednesday, hitting $127.46. The company had a trading volume of 827,130 shares, compared to its average volume of 546,188. The stock has a market capitalization of $5.61 billion, a price-to-earnings ratio of 34.26, a P/E/G ratio of 2.38 and a beta of 1.47. The firm has a fifty day moving average price of $180.09 and a 200-day moving average price of $201.97. Globant S.A. has a 52-week low of $124.53 and a 52-week high of $238.32.

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 the consensus estimate of $1.75 by ($0.39). Globant had a return on equity of 11.83% and a net margin of 6.86%. The firm had revenue of $642.48 million during the quarter, compared to analysts' expectations of $644.42 million. Research analysts anticipate that Globant S.A. will post 5.73 earnings per share for the current fiscal year.

About Globant

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.