Globant S.A. (NYSE:GLOB) Shares Sold by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale lowered its stake in shares of Globant S.A. (NYSE:GLOB) by 76.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,350 shares of the information technology services provider’s stock after selling 7,550 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Globant were worth $420,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Manning & Napier Advisors LLC purchased a new position in Globant in the 2nd quarter worth $99,396,000. Norges Bank purchased a new position in shares of Globant in the fourth quarter worth about $114,922,000. Wasatch Advisors LP raised its stake in shares of Globant by 6.8% in the first quarter. Wasatch Advisors LP now owns 3,336,764 shares of the information technology services provider’s stock worth $673,693,000 after purchasing an additional 213,049 shares during the last quarter. CIBC Private Wealth Group LLC lifted its holdings in shares of Globant by 65.7% during the fourth quarter. CIBC Private Wealth Group LLC now owns 405,124 shares of the information technology services provider’s stock worth $96,411,000 after purchasing an additional 160,616 shares during the period. Finally, 1832 Asset Management L.P. boosted its position in Globant by 48.4% in the fourth quarter. 1832 Asset Management L.P. now owns 422,800 shares of the information technology services provider’s stock valued at $100,618,000 after buying an additional 137,900 shares during the last quarter. Institutional investors and hedge funds own 91.60% of the company’s stock.

Globant Stock Down 2.3 %

GLOB stock opened at $189.06 on Friday. Globant S.A. has a 52 week low of $151.68 and a 52 week high of $251.50. The firm has a 50-day simple moving average of $195.34 and a 200-day simple moving average of $187.12. The stock has a market capitalization of $8.15 billion, a P/E ratio of 49.62, a P/E/G ratio of 2.49 and a beta of 1.40.

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

Analyst Ratings Changes

Several brokerages have commented on GLOB. KeyCorp lifted their price objective on shares of Globant from $220.00 to $235.00 and gave the company an “overweight” rating in a research note on Friday, August 16th. TD Cowen upped 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. Deutsche Bank Aktiengesellschaft initiated coverage on Globant in a research note on Thursday, August 22nd. They set a “hold” rating and a $210.00 price objective for the company. Needham & Company LLC upped their target price on Globant from $200.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. Finally, UBS Group reiterated a “neutral” rating and set a $235.00 price target (up from $225.00) on shares of Globant in a research report on Tuesday, August 20th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $222.90.

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.