Fisher Asset Management LLC Sells 405 Shares of Globant S.A. (NYSE:GLOB)

Fisher Asset Management LLC lessened its holdings in Globant S.A. (NYSE:GLOB) by 1.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 26,527 shares of the information technology services provider’s stock after selling 405 shares during the period. Fisher Asset Management LLC owned 0.06% of Globant worth $6,313,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. Virtu Financial LLC raised its stake in Globant by 119.0% in the 4th quarter. Virtu Financial LLC now owns 2,803 shares of the information technology services provider’s stock valued at $667,000 after acquiring an additional 1,523 shares during the period. Gillson Capital LP acquired a new position in Globant in the 4th quarter valued at $18,281,000. Granahan Investment Management LLC grew its holdings in Globant by 10.9% in the 4th quarter. Granahan Investment Management LLC now owns 220,039 shares of the information technology services provider’s stock valued at $52,365,000 after buying an additional 21,645 shares in the last quarter. Icon Wealth Advisors LLC acquired a new position in Globant in the 4th quarter valued at $1,018,000. Finally, Wasatch Advisors LP grew its holdings in Globant by 0.9% in the 4th quarter. Wasatch Advisors LP now owns 3,123,715 shares of the information technology services provider’s stock valued at $743,382,000 after buying an additional 28,243 shares in the last quarter. Institutional investors own 91.60% of the company’s stock.

Globant Stock Down 2.4 %

NYSE:GLOB opened at $154.21 on Thursday. The stock’s 50-day simple moving average is $172.30 and its 200 day simple moving average is $206.09. The firm has a market capitalization of $6.64 billion, a PE ratio of 40.48, a price-to-earnings-growth ratio of 1.62 and a beta of 1.40. Globant S.A. has a twelve month low of $151.68 and a twelve month high of $251.50.

Globant (NYSE:GLOB) last released its quarterly earnings data on Thursday, May 16th. The information technology services provider reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.01. The business had revenue of $571.08 million for the quarter, compared to analyst estimates of $570.72 million. Globant had a return on equity of 11.60% and a net margin of 7.62%. On average, analysts anticipate that Globant S.A. will post 5.02 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on GLOB shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $200.00 price objective on shares of Globant in a report on Thursday, June 13th. Scotiabank decreased their price objective on Globant from $200.00 to $190.00 and set a “sector perform” rating on the stock in a report on Friday, May 17th. Guggenheim started coverage on Globant in a report on Tuesday, March 19th. They issued a “buy” rating and a $250.00 price objective on the stock. Wedbush decreased their price objective on Globant from $250.00 to $200.00 and set an “outperform” rating on the stock in a report on Friday, May 17th. Finally, TD Cowen reduced their target price on Globant from $235.00 to $220.00 and set a “buy” rating on the stock in a report on Friday, May 17th. One research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $217.94.

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.