Globant S.A. (NYSE:GLOB) Stock Position Cut by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD lessened its stake in Globant S.A. (NYSE:GLOB) by 5.7% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,726,183 shares of the information technology services provider’s stock after selling 225,558 shares during the period. Price T Rowe Associates Inc. MD owned 8.65% of Globant worth $752,318,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Wasatch Advisors LP lifted its holdings in Globant by 6.8% in the 1st quarter. Wasatch Advisors LP now owns 3,336,764 shares of the information technology services provider’s stock valued at $673,693,000 after acquiring an additional 213,049 shares during the last quarter. Capital International Investors lifted its holdings in Globant by 0.5% in the 4th quarter. Capital International Investors now owns 1,323,859 shares of the information technology services provider’s stock valued at $315,052,000 after acquiring an additional 6,707 shares during the last quarter. Jennison Associates LLC lifted its holdings in Globant by 289.5% in the 4th quarter. Jennison Associates LLC now owns 960,833 shares of the information technology services provider’s stock valued at $228,659,000 after acquiring an additional 714,162 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in Globant by 36.7% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 705,090 shares of the information technology services provider’s stock valued at $167,797,000 after acquiring an additional 189,204 shares during the last quarter. Finally, Norges Bank acquired a new stake in Globant in the 4th quarter valued at about $114,922,000. Institutional investors own 91.60% of the company’s stock.

Globant Stock Down 2.3 %

Shares of GLOB traded down $4.47 during trading hours on Friday, reaching $192.60. The company’s stock had a trading volume of 625,085 shares, compared to its average volume of 513,173. The firm has a market cap of $8.30 billion, a price-to-earnings ratio of 50.55, a P/E/G ratio of 1.99 and a beta of 1.41. Globant S.A. has a 1-year low of $151.68 and a 1-year high of $251.50. The company has a 50 day moving average of $173.56 and a two-hundred day moving average of $197.14.

Globant (NYSE:GLOB) last released its quarterly earnings data on Thursday, May 16th. The information technology services provider reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.18 by $0.01. Globant had a return on equity of 11.60% and a net margin of 7.62%. The firm had revenue of $571.08 million for the quarter, compared to the consensus estimate of $570.72 million. As a group, analysts forecast that Globant S.A. will post 5 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

GLOB has been the subject of a number of research analyst reports. UBS Group raised shares of Globant from a “neutral” rating to a “buy” rating and cut their price target for the company from $240.00 to $230.00 in a report on Tuesday, May 28th. StockNews.com raised shares of Globant from a “sell” rating to a “hold” rating in a report on Tuesday, May 21st. JPMorgan Chase & Co. reduced their price objective on shares of Globant from $273.00 to $257.00 and set an “overweight” rating for the company in a research note on Thursday, May 2nd. Citigroup upped their price objective on shares of Globant from $215.00 to $220.00 and gave the company a “buy” rating in a research note on Friday, July 12th. Finally, Mizuho reduced their price objective on shares of Globant from $279.00 to $252.00 and set a “buy” rating for the company in a research note on Wednesday, May 22nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $216.72.

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.