Globant S.A. (NYSE:GLOB) Shares Sold by Stephens Investment Management Group LLC

Stephens Investment Management Group LLC lessened its stake in shares of Globant S.A. (NYSE:GLOB - Free Report) by 1.8% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 268,578 shares of the information technology services provider's stock after selling 4,838 shares during the period. Stephens Investment Management Group LLC owned approximately 0.62% of Globant worth $53,216,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Parcion Private Wealth LLC purchased a new stake in shares of Globant in the third quarter valued at $214,000. International Assets Investment Management LLC purchased a new stake in Globant in the 3rd quarter worth about $36,510,000. Signaturefd LLC raised its position in Globant by 46.0% in the 3rd quarter. Signaturefd LLC now owns 292 shares of the information technology services provider's stock worth $58,000 after purchasing an additional 92 shares during the period. Raymond James & Associates lifted its stake in Globant by 27.4% in the third quarter. Raymond James & Associates now owns 79,234 shares of the information technology services provider's stock worth $15,699,000 after purchasing an additional 17,035 shares during the last quarter. Finally, nVerses Capital LLC purchased a new position in shares of Globant during the third quarter valued at approximately $575,000. 91.60% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on GLOB. Jefferies Financial Group boosted their price objective on Globant from $235.00 to $240.00 and gave the company a "buy" rating in a report on Monday, September 9th. Needham & Company LLC upped their price target on shares of Globant from $200.00 to $245.00 and gave the stock a "buy" rating in a report on Friday, August 16th. UBS Group reissued a "neutral" rating and issued a $235.00 price objective (up from $225.00) on shares of Globant in a research report on Tuesday, August 20th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Globant in a research note on Thursday, August 22nd. They set a "hold" rating and a $210.00 price target for the company. Finally, Scotiabank lifted their target price on Globant from $200.00 to $210.00 and gave the company a "sector perform" rating in a research report on Wednesday, August 21st. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, Globant has an average rating of "Moderate Buy" and a consensus target price of $226.21.

Globant Price Performance

GLOB traded up $0.23 on Friday, reaching $210.12. 223,441 shares of the stock were exchanged, compared to its average volume of 478,325. Globant S.A. has a fifty-two week low of $151.68 and a fifty-two week high of $251.50. The firm has a market capitalization of $9.05 billion, a PE ratio of 54.86, a PEG ratio of 2.62 and a beta of 1.39. The company's 50-day moving average price is $203.80 and its 200 day moving average price is $187.86.

Globant (NYSE:GLOB - Get Free Report) last posted its earnings results on Thursday, August 15th. The information technology services provider reported $1.51 EPS for the quarter, topping the consensus estimate of $1.50 by $0.01. The firm had revenue of $587.46 million for the quarter, compared to analyst estimates of $586.72 million. Globant had a return on equity of 11.68% and a net margin of 7.39%. Globant's revenue for the quarter was up 18.1% compared to the same quarter last year. During the same period last year, the company earned $1.04 earnings per share. As a group, equities analysts forecast that Globant S.A. will post 5.05 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.