Wellington Management Group LLP Has $11.56 Million Stock Holdings in Globant S.A. (NYSE:GLOB)

Wellington Management Group LLP reduced its holdings in Globant S.A. (NYSE:GLOB - Free Report) by 40.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,900 shares of the information technology services provider's stock after selling 35,865 shares during the quarter. Wellington Management Group LLP owned approximately 0.13% of Globant worth $11,557,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. Centricity Wealth Management LLC bought a new position in Globant in the 4th quarter worth approximately $38,000. Kestra Investment Management LLC bought a new stake in shares of Globant during the fourth quarter worth $38,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Globant during the third quarter worth $40,000. Van Berkom & Associates Inc. acquired a new position in shares of Globant during the fourth quarter valued at $45,000. Finally, Promus Capital LLC bought a new position in Globant in the fourth quarter valued at about $64,000. Institutional investors own 91.60% of the company's stock.

Globant Trading Up 1.8 %

Shares of NYSE GLOB traded up $1.96 during midday trading on Tuesday, reaching $109.98. The company's stock had a trading volume of 108,735 shares, compared to its average volume of 590,708. Globant S.A. has a fifty-two week low of $96.23 and a fifty-two week high of $238.32. The stock has a 50 day simple moving average of $148.05 and a 200-day simple moving average of $192.43. The stock has a market capitalization of $4.84 billion, a price-to-earnings ratio of 29.56, a PEG ratio of 2.38 and a beta of 1.50.

Globant (NYSE:GLOB - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The information technology services provider reported $1.36 EPS for the quarter, missing the consensus estimate of $1.75 by ($0.39). Globant had a return on equity of 11.83% and a net margin of 6.86%. The business had revenue of $642.48 million for the quarter, compared to the consensus estimate of $644.42 million. As a group, equities analysts anticipate that Globant S.A. will post 5.73 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on GLOB. UBS Group cut their target price 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. Jefferies Financial Group raised their price objective on shares of Globant from $240.00 to $255.00 and gave the company a "buy" rating in a research note on Tuesday, January 21st. Redburn Atlantic upgraded shares of Globant from a "sell" rating to a "neutral" rating and upped their target price for the company from $140.00 to $150.00 in a research report on Tuesday, February 25th. Piper Sandler reduced their price target on Globant from $237.00 to $230.00 and set an "overweight" rating on the stock in a research report on Friday, February 21st. Finally, JPMorgan Chase & Co. dropped their price objective on Globant from $248.00 to $242.00 and set an "overweight" rating for the company in a report on Friday, February 21st. One research analyst has rated the stock with a sell rating, five have given a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $214.69.

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.