Globant S.A. (NYSE:GLOB) Shares Sold by Johnson Investment Counsel Inc.

Johnson Investment Counsel Inc. cut its position in shares of Globant S.A. (NYSE:GLOB - Free Report) by 13.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,802 shares of the information technology services provider's stock after selling 2,207 shares during the period. Johnson Investment Counsel Inc.'s holdings in Globant were worth $2,959,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of GLOB. Van ECK Associates Corp grew its stake in shares of Globant by 62.4% in the third quarter. Van ECK Associates Corp now owns 398 shares of the information technology services provider's stock valued at $86,000 after buying an additional 153 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Globant by 121.3% in the third quarter. Principal Financial Group Inc. now owns 30,351 shares of the information technology services provider's stock valued at $6,014,000 after buying an additional 16,639 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of Globant by 1,817.5% in the third quarter. Victory Capital Management Inc. now owns 1,509,853 shares of the information technology services provider's stock valued at $299,162,000 after buying an additional 1,431,112 shares in the last quarter. Future Fund LLC grew its stake in shares of Globant by 15.9% in the third quarter. Future Fund LLC now owns 4,868 shares of the information technology services provider's stock valued at $1,023,000 after buying an additional 668 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. grew its stake in shares of Globant by 2.5% in the third quarter. Oppenheimer Asset Management Inc. now owns 94,827 shares of the information technology services provider's stock valued at $18,789,000 after buying an additional 2,300 shares in the last quarter. 91.60% of the stock is owned by hedge funds and other institutional investors.

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Globant Trading Up 4.3 %

Shares of Globant stock traded up $5.58 on Friday, hitting $134.43. The stock had a trading volume of 843,333 shares, compared to its average volume of 533,343. Globant S.A. has a 52-week low of $127.62 and a 52-week high of $238.32. The stock has a market cap of $5.92 billion, a price-to-earnings ratio of 36.14, a P/E/G ratio of 2.38 and a beta of 1.47. The company's 50 day moving average price is $192.98 and its 200 day moving average price is $205.67.

Globant (NYSE:GLOB - Get Free Report) last posted its earnings results on Thursday, February 20th. The information technology services provider reported $1.36 earnings per share for the quarter, missing the consensus estimate of $1.75 by ($0.39). The firm had revenue of $642.48 million during the quarter, compared to analysts' expectations of $644.42 million. Globant had a net margin of 6.86% and a return on equity of 11.83%. Analysts predict that Globant S.A. will post 5.73 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Susquehanna started coverage on Globant in a research note on Tuesday, December 17th. They issued a "positive" rating and a $255.00 price objective for the company. Redburn Atlantic raised 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 research note on Tuesday, February 25th. Piper Sandler lowered their target price on Globant from $237.00 to $230.00 and set an "overweight" rating for the company in a research note on Friday, February 21st. Needham & Company LLC reissued a "buy" rating and set a $220.00 target price on shares of Globant in a research note on Wednesday. Finally, Canaccord Genuity Group lowered their target price on Globant from $205.00 to $165.00 and set a "hold" rating for the company in a research note on Monday, February 24th. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Globant currently has an average rating of "Moderate Buy" and an average target price of $221.39.

Globant Company 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.