Citigroup Inc. Has $5.12 Million Stock Holdings in Globant S.A. (NYSE:GLOB)

Citigroup Inc. lessened its holdings in Globant S.A. (NYSE:GLOBGet Rating) by 80.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,541 shares of the information technology services provider’s stock after selling 79,072 shares during the period. Citigroup Inc.’s holdings in Globant were worth $5,121,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Private Advisor Group LLC raised its position in Globant by 5.2% in the first quarter. Private Advisor Group LLC now owns 1,283 shares of the information technology services provider’s stock worth $336,000 after purchasing an additional 63 shares in the last quarter. HighTower Advisors LLC grew its stake in Globant by 29.0% during the first quarter. HighTower Advisors LLC now owns 9,693 shares of the information technology services provider’s stock worth $2,539,000 after buying an additional 2,181 shares during the last quarter. Equitable Trust Co. grew its stake in Globant by 118.2% during the first quarter. Equitable Trust Co. now owns 1,885 shares of the information technology services provider’s stock worth $494,000 after buying an additional 1,021 shares during the last quarter. Johnson Investment Counsel Inc. grew its stake in Globant by 15.8% during the first quarter. Johnson Investment Counsel Inc. now owns 7,457 shares of the information technology services provider’s stock worth $1,954,000 after buying an additional 1,015 shares during the last quarter. Finally, William Blair Investment Management LLC grew its stake in Globant by 23.7% during the first quarter. William Blair Investment Management LLC now owns 1,273,843 shares of the information technology services provider’s stock worth $333,836,000 after buying an additional 243,985 shares during the last quarter. Institutional investors and hedge funds own 88.96% of the company’s stock.

Globant Price Performance

Shares of NYSE GLOB opened at $208.29 on Thursday. The company’s 50 day simple moving average is $204.70 and its 200 day simple moving average is $215.02. Globant S.A. has a fifty-two week low of $159.56 and a fifty-two week high of $354.62. The firm has a market capitalization of $8.73 billion, a P/E ratio of 69.20 and a beta of 1.46.

Globant (NYSE:GLOBGet Rating) last announced its quarterly earnings data on Thursday, August 18th. The information technology services provider reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.02. Globant had a net margin of 8.26% and a return on equity of 11.53%. The business had revenue of $429.30 million for the quarter, compared to analyst estimates of $426.22 million. During the same period in the prior year, the business posted $0.71 earnings per share. Globant’s revenue was up 40.6% compared to the same quarter last year. Sell-side analysts expect that Globant S.A. will post 4.04 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have weighed in on GLOB. Citigroup decreased their price objective on shares of Globant from $350.00 to $265.00 and set a “buy” rating on the stock in a research note on Friday, May 20th. Cowen upped their price objective on shares of Globant from $220.00 to $248.00 and gave the stock an “outperform” rating in a research note on Friday, August 19th. The Goldman Sachs Group decreased their price target on shares of Globant from $360.00 to $280.00 and set a “buy” rating on the stock in a research note on Tuesday, July 5th. Cowen increased their price target on shares of Globant from $220.00 to $248.00 and gave the company an “outperform” rating in a research note on Friday, August 19th. Finally, Wedbush decreased their price target on shares of Globant to $300.00 in a research note on Friday, May 20th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $265.00.

Globant Company Profile

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Globant SA operates as a technology services company worldwide. It offers e-commerce, new distribution capabilities, augmented revenue management, hyper connected operation, and conversational user experience services through reinvention studios; digital lending, commercial effectiveness, finance, sustainability, regulation analytic, transformation and post-merger integration, and payment and open banking services; and game and graphic engineering, UI and UX design, game as a service, DevOps, and online services, as well as high tech tools.

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Institutional Ownership by Quarter for Globant (NYSE:GLOB)

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