Globant S.A. (NYSE:GLOB) Holdings Lessened by Sara Bay Financial

Sara Bay Financial decreased its holdings in Globant S.A. (NYSE:GLOB – Get Rating) by 3.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 45,273 shares of the information technology services provider’s stock after selling 1,438 shares during the quarter. Globant accounts for about 4.3% of Sara Bay Financial’s investment portfolio, making the stock its 6th largest position. Sara Bay Financial owned approximately 0.11% of Globant worth $7,613,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. IFP Advisors Inc lifted its holdings in Globant by 1,068.8% during the third quarter. IFP Advisors Inc now owns 187 shares of the information technology services provider’s stock valued at $26,000 after purchasing an additional 171 shares in the last quarter. Van ECK Associates Corp lifted its holdings in Globant by 1,729.4% during the third quarter. Van ECK Associates Corp now owns 311 shares of the information technology services provider’s stock valued at $58,000 after purchasing an additional 294 shares in the last quarter. Advisors Asset Management Inc. purchased a new position in Globant during the first quarter valued at approximately $72,000. Huntington National Bank lifted its holdings in Globant by 60.0% during the third quarter. Huntington National Bank now owns 416 shares of the information technology services provider’s stock valued at $78,000 after purchasing an additional 156 shares in the last quarter. Finally, CWM LLC lifted its holdings in Globant by 18.7% during the third quarter. CWM LLC now owns 458 shares of the information technology services provider’s stock valued at $86,000 after purchasing an additional 72 shares in the last quarter. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on GLOB. StockNews.com began coverage on shares of Globant in a report on Thursday. They set a “hold” rating on the stock. Piper Sandler lifted their price target on shares of Globant from $198.00 to $204.00 and gave the company an “overweight” rating in a report on Friday, February 17th. Cowen reduced their price objective on shares of Globant from $207.00 to $192.00 in a research report on Friday, February 17th. JPMorgan Chase & Co. reduced their price objective on shares of Globant from $224.00 to $221.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 14th. Finally, Citigroup reduced their price objective on shares of Globant from $270.00 to $225.00 and set a “buy” rating on the stock in a research report on Monday, November 21st. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $230.11.

Globant Stock Performance

Shares of GLOB opened at $148.50 on Friday. The company’s fifty day moving average is $165.14 and its 200 day moving average is $177.14. Globant S.A. has a fifty-two week low of $144.71 and a fifty-two week high of $282.13. The stock has a market capitalization of $6.30 billion, a PE ratio of 42.67 and a beta of 1.43.

Globant (NYSE:GLOB – Get Rating) last announced its quarterly earnings results on Thursday, February 16th. The information technology services provider reported $1.12 earnings per share for the quarter, missing the consensus estimate of $1.14 by ($0.02). Globant had a return on equity of 12.09% and a net margin of 8.36%. The business had revenue of $490.72 million during the quarter, compared to the consensus estimate of $489.67 million. As a group, research analysts forecast that Globant S.A. will post 4.63 earnings per share for the current year.

Globant Profile

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Globant SA engages in the provision of information technology services. It includes application development, testing, infrastructure management, and application maintenance. The company was founded by Martín Migoya, Martín Gonzalo Umaran, Guibert Andrés Englebienne, and Néstor Augusto Nocetti in 2003 and is headquartered in Luxembourg.