Investidor Profissional Gestao de Recursos Ltda. Sells 35,239 Shares of Globant S.A. (NYSE:GLOB)

Investidor Profissional Gestao de Recursos Ltda. trimmed its position in shares of Globant S.A. (NYSE:GLOB - Free Report) by 89.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,356 shares of the information technology services provider's stock after selling 35,239 shares during the period. Globant comprises about 0.5% of Investidor Profissional Gestao de Recursos Ltda.'s portfolio, making the stock its 12th biggest position. Investidor Profissional Gestao de Recursos Ltda.'s holdings in Globant were worth $934,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Raymond James Financial Inc. acquired a new stake in Globant during the 4th quarter worth $16,737,000. Cullen Frost Bankers Inc. grew its holdings in shares of Globant by 5.0% during the fourth quarter. Cullen Frost Bankers Inc. now owns 52,934 shares of the information technology services provider's stock worth $11,350,000 after purchasing an additional 2,505 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Globant by 8.6% during the fourth quarter. JPMorgan Chase & Co. now owns 2,572,080 shares of the information technology services provider's stock worth $551,506,000 after purchasing an additional 203,472 shares in the last quarter. NS Partners Ltd purchased a new stake in shares of Globant in the 4th quarter valued at about $18,933,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Globant by 18.6% in 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 valued at $10,663,000 after purchasing an additional 8,427 shares during the period. 91.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on GLOB shares. Piper Sandler lowered their target price on shares of Globant from $237.00 to $230.00 and set an "overweight" rating on the stock in a research report on Friday, February 21st. UBS Group lowered their price objective on shares of Globant from $217.00 to $190.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 26th. Redburn Atlantic raised Globant from a "sell" rating to a "neutral" rating and boosted their target price for the company from $140.00 to $150.00 in a report on Tuesday, February 25th. Canaccord Genuity Group decreased their price target on Globant from $205.00 to $165.00 and set a "hold" rating for the company in a report on Monday, February 24th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Globant from $248.00 to $242.00 and set an "overweight" rating on the stock in a research note on Friday, February 21st. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $214.69.

Globant Price Performance

NYSE GLOB traded down $7.67 on Thursday, hitting $104.94. 512,164 shares of the stock were exchanged, compared to its average volume of 586,073. The company has a market capitalization of $4.62 billion, a price-to-earnings ratio of 28.11, a P/E/G ratio of 2.38 and a beta of 1.50. The company's 50-day moving average price is $154.46 and its two-hundred day moving average price is $194.33. Globant S.A. has a 52-week low of $96.23 and a 52-week high of $238.32.

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