Natixis Advisors LLC Has $1.84 Million Holdings in Globant S.A. (NYSE:GLOB)

Natixis Advisors LLC cut its holdings in shares of Globant S.A. (NYSE:GLOB) by 21.1% during the second quarter, Holdings Channel reports. The fund owned 10,326 shares of the information technology services provider’s stock after selling 2,761 shares during the period. Natixis Advisors LLC’s holdings in Globant were worth $1,841,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GLOB. Accent Capital Management LLC bought a new stake in shares of Globant during the fourth quarter worth $29,000. BOKF NA lifted its position in Globant by 15,800.0% during the 1st quarter. BOKF NA now owns 159 shares of the information technology services provider’s stock worth $32,000 after buying an additional 158 shares in the last quarter. Ridgewood Investments LLC bought a new stake in Globant during the 2nd quarter worth about $31,000. Principal Securities Inc. acquired a new stake in Globant in the 4th quarter valued at about $56,000. Finally, RiverPark Advisors LLC bought a new position in shares of Globant in the first quarter worth about $54,000. 91.60% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. TD Cowen raised their price target on shares of Globant from $220.00 to $230.00 and gave the company a “buy” rating in a report on Friday, August 16th. Citigroup lifted their target price on Globant from $215.00 to $220.00 and gave the company a “buy” rating in a research note on Friday, July 12th. Scotiabank upped their price target on Globant from $200.00 to $210.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 21st. Mizuho decreased their price target on Globant from $279.00 to $252.00 and set a “buy” rating on the stock in a report on Wednesday, May 22nd. Finally, Wedbush dropped their price objective on Globant from $250.00 to $200.00 and set an “outperform” rating for the company in a report on Friday, May 17th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, Globant presently has an average rating of “Moderate Buy” and an average target price of $222.90.

Globant Stock Up 1.1 %

GLOB opened at $197.07 on Tuesday. The stock has a market cap of $8.49 billion, a P/E ratio of 51.72, a P/E/G ratio of 2.42 and a beta of 1.40. Globant S.A. has a 12 month low of $151.68 and a 12 month high of $251.50. The company has a fifty day simple moving average of $192.72 and a 200 day simple moving average of $188.41.

Globant (NYSE:GLOB) last announced its quarterly earnings results on Thursday, August 15th. The information technology services provider reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.01. Globant had a return on equity of 11.68% and a net margin of 7.39%. The company had revenue of $587.46 million during the quarter, compared to the consensus estimate of $586.72 million. During the same period in the prior year, the company earned $1.04 earnings per share. The company’s revenue for the quarter was up 18.1% compared to the same quarter last year. On average, equities research analysts expect that Globant S.A. will post 5.01 earnings per share for the current fiscal year.

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.