Atria Investments Inc Has $1.03 Million Stock Position in Globant S.A. (NYSE:GLOB)

Atria Investments Inc lessened its holdings in shares of Globant S.A. (NYSE:GLOB) by 2.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,171 shares of the information technology services provider’s stock after selling 114 shares during the quarter. Atria Investments Inc’s holdings in Globant were worth $1,025,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Globant by 7.9% in the first quarter. Vanguard Group Inc. now owns 112,339 shares of the information technology services provider’s stock valued at $22,681,000 after buying an additional 8,267 shares in the last quarter. Edgestream Partners L.P. acquired a new position in Globant in the 1st quarter worth $577,000. Seven Eight Capital LP acquired a new position in Globant in the 1st quarter worth $2,138,000. Clearbridge Investments LLC increased its holdings in Globant by 24.0% during the 1st quarter. Clearbridge Investments LLC now owns 264,598 shares of the information technology services provider’s stock worth $53,422,000 after purchasing an additional 51,245 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Globant in the 1st quarter valued at about $196,000. 91.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on GLOB shares. Citigroup upped their price objective on Globant from $240.00 to $251.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. StockNews.com downgraded Globant from a “hold” rating to a “sell” rating in a research report on Saturday. UBS Group reiterated a “neutral” rating and issued a $235.00 price objective (up from $225.00) on shares of Globant in a report on Tuesday, August 20th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Globant in a report on Thursday, August 22nd. They set a “hold” rating and a $210.00 target price for the company. Finally, JPMorgan Chase & Co. raised their target price on shares of Globant from $237.00 to $248.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $228.50.

Globant Stock Down 11.1 %

GLOB opened at $203.29 on Monday. The stock has a market cap of $8.76 billion, a price-to-earnings ratio of 53.08, a PEG ratio of 2.49 and a beta of 1.39. Globant S.A. has a 12-month low of $151.68 and a 12-month high of $251.50. The business has a 50 day moving average of $208.98 and a 200-day moving average of $191.09.

Globant (NYSE:GLOB) last released its quarterly earnings data on Thursday, August 15th. The information technology services provider reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.50 by $0.01. The firm had revenue of $587.46 million during the quarter, compared to analysts’ expectations of $586.72 million. Globant had a net margin of 7.20% and a return on equity of 11.87%. The company’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.04 earnings per share. As a group, analysts expect that Globant S.A. will post 5.06 earnings per share for the current year.

About Globant

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.