Swedbank AB Decreases Stake in Globant S.A. (NYSE:GLOB)

Swedbank AB cut its holdings in shares of Globant S.A. (NYSE:GLOB) by 26.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 36,500 shares of the information technology services provider’s stock after selling 12,900 shares during the quarter. Swedbank AB’s holdings in Globant were worth $7,232,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of GLOB. Quarry LP lifted its stake in Globant by 529.6% in the 2nd quarter. Quarry LP now owns 170 shares of the information technology services provider’s stock worth $30,000 after purchasing an additional 143 shares in the last quarter. Ridgewood Investments LLC purchased a new position in Globant during the second quarter worth approximately $31,000. BOKF NA boosted its stake in Globant by 15,800.0% during the first quarter. BOKF NA now owns 159 shares of the information technology services provider’s stock worth $32,000 after buying an additional 158 shares during the last quarter. ORG Partners LLC grew its holdings in Globant by 65.5% in the 3rd quarter. ORG Partners LLC now owns 192 shares of the information technology services provider’s stock valued at $38,000 after buying an additional 76 shares in the last quarter. Finally, American National Bank & Trust increased its stake in shares of Globant by 430.2% in the 3rd quarter. American National Bank & Trust now owns 228 shares of the information technology services provider’s stock worth $45,000 after acquiring an additional 185 shares during the last quarter. Hedge funds and other institutional investors own 91.60% of the company’s stock.

Globant Trading Up 0.1 %

Shares of NYSE GLOB opened at $216.49 on Friday. Globant S.A. has a 12-month low of $151.68 and a 12-month high of $251.50. The stock has a market cap of $9.33 billion, a P/E ratio of 56.82, a PEG ratio of 2.61 and a beta of 1.39. The business’s fifty day simple moving average is $199.34 and its 200-day simple moving average is $186.45.

Globant (NYSE:GLOB) last announced its quarterly earnings data on Thursday, August 15th. The information technology services provider reported $1.51 earnings per share (EPS) for the quarter, beating 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 business had revenue of $587.46 million during the quarter, compared to analysts’ expectations of $586.72 million. During the same quarter last year, the business posted $1.04 EPS. The business’s quarterly revenue was up 18.1% compared to the same quarter last year. On average, equities analysts forecast that Globant S.A. will post 5.02 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on GLOB shares. Scotiabank boosted their price target on shares of Globant from $200.00 to $210.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 21st. TD Cowen raised their price target on shares of Globant from $220.00 to $230.00 and gave the stock a “buy” rating in a report on Friday, August 16th. Piper Sandler reiterated an “overweight” rating and issued a $240.00 price objective (up from $238.00) on shares of Globant in a report on Friday, August 16th. Needham & Company LLC raised 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, KeyCorp upped their price target on Globant from $220.00 to $235.00 and gave the company an “overweight” rating in a research note on Friday, August 16th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Globant presently has a consensus rating of “Moderate Buy” and an average target price of $224.00.

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.