NBC Securities Inc. Sells 287 Shares of Globant S.A. (NYSE:GLOB)

NBC Securities Inc. cut its position in shares of Globant S.A. (NYSE:GLOBFree Report) by 5.9% during the 1st quarter, HoldingsChannel reports. The firm owned 4,582 shares of the information technology services provider’s stock after selling 287 shares during the period. NBC Securities Inc.’s holdings in Globant were worth $925,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Wasatch Advisors LP boosted its holdings in Globant by 0.9% in the fourth quarter. Wasatch Advisors LP now owns 3,123,715 shares of the information technology services provider’s stock worth $743,382,000 after acquiring an additional 28,243 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Globant by 3.2% in the third quarter. JPMorgan Chase & Co. now owns 1,614,782 shares of the information technology services provider’s stock worth $319,485,000 after acquiring an additional 49,812 shares in the last quarter. Capital International Investors boosted its holdings in Globant by 0.5% in the fourth quarter. Capital International Investors now owns 1,323,859 shares of the information technology services provider’s stock worth $315,052,000 after acquiring an additional 6,707 shares in the last quarter. Jennison Associates LLC boosted its holdings in Globant by 289.5% in the fourth quarter. Jennison Associates LLC now owns 960,833 shares of the information technology services provider’s stock worth $228,659,000 after acquiring an additional 714,162 shares in the last quarter. Finally, Schroder Investment Management Group boosted its holdings in Globant by 16.2% in the third quarter. Schroder Investment Management Group now owns 734,479 shares of the information technology services provider’s stock worth $145,317,000 after acquiring an additional 102,184 shares in the last quarter. 91.60% of the stock is currently owned by institutional investors.

Globant Stock Down 2.4 %

GLOB traded down $3.86 during midday trading on Wednesday, reaching $154.21. The company had a trading volume of 578,026 shares, compared to its average volume of 543,348. The business has a 50-day moving average of $173.18 and a two-hundred day moving average of $206.45. The company has a market cap of $6.64 billion, a P/E ratio of 40.48, a P/E/G ratio of 1.62 and a beta of 1.40. Globant S.A. has a 1 year low of $151.68 and a 1 year high of $251.50.

Globant (NYSE:GLOBGet Free Report) last issued its quarterly earnings results 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. The business had revenue of $571.08 million during the quarter, compared to analysts’ expectations of $570.72 million. Globant had a return on equity of 11.60% and a net margin of 7.62%. On average, equities research analysts predict that Globant S.A. will post 5.02 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on GLOB. StockNews.com raised Globant from a “sell” rating to a “hold” rating in a report on Tuesday, May 21st. HSBC lowered their price target on Globant from $275.00 to $270.00 and set a “buy” rating on the stock in a report on Wednesday, April 3rd. Needham & Company LLC reaffirmed a “buy” rating and set a $200.00 price target on shares of Globant in a report on Thursday, June 13th. Scotiabank lowered their price target on Globant from $200.00 to $190.00 and set a “sector perform” rating on the stock in a report on Friday, May 17th. Finally, JPMorgan Chase & Co. lowered their price target on Globant from $273.00 to $257.00 and set an “overweight” rating on the stock in a report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, Globant currently has a consensus rating of “Moderate Buy” and an average price target of $217.94.

Read Our Latest Research Report on Globant

About Globant

(Free Report)

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.

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Institutional Ownership by Quarter for Globant (NYSE:GLOB)

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