Grandeur Peak Global Advisors LLC Sells 65,637 Shares of Globant S.A. (NYSE:GLOB)

Grandeur Peak Global Advisors LLC reduced its stake in shares of Globant S.A. (NYSE:GLOB - Free Report) by 16.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 339,614 shares of the information technology services provider's stock after selling 65,637 shares during the quarter. Globant accounts for 6.5% of Grandeur Peak Global Advisors LLC's holdings, making the stock its 2nd largest position. Grandeur Peak Global Advisors LLC owned approximately 0.79% of Globant worth $72,820,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of the stock. JPMorgan Chase & Co. grew its position 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 valued at $551,506,000 after purchasing an additional 203,472 shares during the period. Victory Capital Management Inc. boosted its holdings in 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 worth $344,382,000 after buying an additional 96,257 shares during the last quarter. Jennison Associates LLC increased its stake 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 worth $172,082,000 after buying an additional 4,970 shares in the last quarter. Sei Investments Co. lifted its position in shares of Globant by 3.5% in the fourth quarter. Sei Investments Co. now owns 602,802 shares of the information technology services provider's stock valued at $129,252,000 after acquiring an additional 20,365 shares in the last quarter. Finally, FMR LLC boosted its stake in shares of Globant by 17.4% in the fourth quarter. FMR LLC now owns 554,086 shares of the information technology services provider's stock worth $118,807,000 after acquiring an additional 82,309 shares during the last quarter. 91.60% of the stock is owned by institutional investors and hedge funds.

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Globant Price Performance

Shares of NYSE:GLOB traded up $0.12 during trading on Thursday, hitting $106.71. 188,158 shares of the company were exchanged, compared to its average volume of 593,725. The firm's 50 day moving average price is $143.65 and its 200-day moving average price is $191.26. The stock has a market capitalization of $4.70 billion, a P/E ratio of 28.66, a PEG ratio of 2.38 and a beta of 1.50. Globant S.A. has a 12-month low of $96.23 and a 12-month high of $238.32.

Globant (NYSE:GLOB - Get Free Report) last released 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). Globant had a return on equity of 11.83% and a net margin of 6.86%. The firm had revenue of $642.48 million for the quarter, compared to analysts' expectations of $644.42 million. As a group, equities research analysts anticipate that Globant S.A. will post 5.73 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on GLOB. StockNews.com lowered shares of Globant from a "hold" rating to a "sell" rating in a report on Monday. Redburn Atlantic upgraded Globant from a "sell" rating to a "neutral" rating and boosted their target price for the stock from $140.00 to $150.00 in a report on Tuesday, February 25th. Needham & Company LLC reiterated a "buy" rating and set a $220.00 price objective on shares of Globant in a research report on Wednesday, March 12th. UBS Group cut their target price on Globant from $217.00 to $190.00 and set a "neutral" rating for the company in a research note on Wednesday, February 26th. Finally, Susquehanna lowered their price target on shares of Globant from $255.00 to $225.00 and set a "positive" rating on the stock in a research report on Tuesday, April 8th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat, Globant has an average rating of "Moderate Buy" and an average target price of $209.94.

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.