LPL Financial LLC Sells 13,491 Shares of Globant S.A. (NYSE:GLOB)

LPL Financial LLC reduced its stake in shares of Globant S.A. (NYSE:GLOB - Free Report) by 30.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 31,322 shares of the information technology services provider's stock after selling 13,491 shares during the period. LPL Financial LLC owned 0.07% of Globant worth $6,709,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its holdings in Globant by 6.9% in the third quarter. JPMorgan Chase & Co. now owns 2,368,608 shares of the information technology services provider's stock valued at $469,316,000 after buying an additional 153,385 shares during the period. Victory Capital Management Inc. raised its position 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 worth $344,382,000 after acquiring an additional 96,257 shares in the last quarter. Jennison Associates LLC lifted its stake in shares of Globant by 0.6% in 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 purchasing an additional 4,970 shares during the period. Sei Investments Co. boosted its position in shares of Globant by 3.5% during the 4th quarter. Sei Investments Co. now owns 602,802 shares of the information technology services provider's stock valued at $129,252,000 after purchasing an additional 20,365 shares in the last quarter. Finally, abrdn plc grew its stake in Globant by 36.7% during 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 institutional investors and hedge funds.

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Globant Stock Up 2.8 %

Globant stock traded up $2.89 during midday trading on Friday, hitting $107.59. 576,846 shares of the stock were exchanged, compared to its average volume of 590,874. The stock has a market capitalization of $4.74 billion, a price-to-earnings ratio of 28.92, a price-to-earnings-growth ratio of 2.38 and a beta of 1.50. Globant S.A. has a 52-week low of $96.23 and a 52-week high of $238.32. The business's 50-day moving average price is $150.16 and its 200-day moving average price is $193.09.

Globant (NYSE:GLOB - Get Free Report) last released 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). The business had revenue of $642.48 million during the quarter, compared to the consensus estimate of $644.42 million. Globant had a net margin of 6.86% and a return on equity of 11.83%. On average, sell-side analysts predict that Globant S.A. will post 5.73 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on GLOB shares. Needham & Company LLC reissued a "buy" rating and issued a $220.00 price target on shares of Globant in a research note on Wednesday, March 12th. Canaccord Genuity Group dropped their target price on shares of Globant from $205.00 to $165.00 and set a "hold" rating on the stock in a research report on Monday, February 24th. Piper Sandler reduced their price target on shares of Globant from $237.00 to $230.00 and set an "overweight" rating for the company in a report on Friday, February 21st. Scotiabank decreased their price target on shares of Globant from $220.00 to $170.00 and set a "sector perform" rating for the company in a research note on Monday, February 24th. Finally, Susquehanna cut their price objective on shares of Globant from $255.00 to $225.00 and set a "positive" rating on the stock in a research report on Tuesday. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat.com, Globant presently has an average rating of "Moderate Buy" and an average price target of $214.69.

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.