Wealth Alliance Sells 62 Shares of Globant S.A. (NYSE:GLOB)

Wealth Alliance decreased its stake in shares of Globant S.A. (NYSE:GLOB) by 3.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 1,701 shares of the information technology services provider’s stock after selling 62 shares during the quarter. Wealth Alliance’s holdings in Globant were worth $405,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD increased its stake in Globant by 10.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,406,155 shares of the information technology services provider’s stock valued at $558,644,000 after acquiring an additional 319,684 shares during the period. JPMorgan Chase & Co. increased its stake 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 valued at $319,485,000 after acquiring an additional 49,812 shares during the period. Sands Capital Management LLC increased its stake in Globant by 8.1% in the second quarter. Sands Capital Management LLC now owns 1,522,069 shares of the information technology services provider’s stock valued at $273,546,000 after acquiring an additional 114,126 shares during the period. Invesco Ltd. grew its stake in Globant by 5.5% during the first quarter. Invesco Ltd. now owns 1,232,195 shares of the information technology services provider’s stock worth $322,920,000 after buying an additional 64,161 shares during the last quarter. Finally, Capital International Investors grew its stake in Globant by 0.6% during the first quarter. Capital International Investors now owns 822,632 shares of the information technology services provider’s stock worth $215,587,000 after buying an additional 4,561 shares during the last quarter. Institutional investors own 91.60% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the stock. HSBC decreased their price objective on shares of Globant from $275.00 to $270.00 and set a “buy” rating on the stock in a research note on Wednesday, April 3rd. Citigroup upped their price objective on shares of Globant from $215.00 to $275.00 and gave the stock a “buy” rating in a research note on Wednesday, January 17th. KeyCorp upped their price objective on shares of Globant from $266.00 to $272.00 and gave the stock an “overweight” rating in a research note on Friday, February 16th. Wedbush reaffirmed an “outperform” rating and set a $250.00 price objective on shares of Globant in a research note on Friday, February 16th. Finally, Piper Sandler upped their target price on shares of Globant from $257.00 to $290.00 and gave the stock an “overweight” rating in a research report on Friday, February 16th. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, Globant currently has a consensus rating of “Moderate Buy” and an average target price of $246.59.

Globant Stock Down 1.8 %

Shares of GLOB stock opened at $182.13 on Thursday. The firm has a fifty day moving average of $211.90 and a 200-day moving average of $212.93. Globant S.A. has a 12-month low of $135.40 and a 12-month high of $251.50. The company has a market capitalization of $7.85 billion, a price-to-earnings ratio of 50.17, a P/E/G ratio of 1.40 and a beta of 1.35.

Globant (NYSE:GLOB) last released its earnings results on Thursday, February 15th. The information technology services provider reported $1.26 earnings per share for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.08). The business had revenue of $580.71 million during the quarter, compared to the consensus estimate of $579.70 million. Globant had a net margin of 7.56% and a return on equity of 11.38%. On average, equities analysts expect that Globant S.A. will post 5.04 EPS for the current year.

Globant 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.