LPL Financial LLC lowered its position in Globant S.A. (NYSE:GLOB – Free Report) by 7.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,317 shares of the information technology services provider’s stock after selling 634 shares during the quarter. LPL Financial LLC’s holdings in Globant were worth $1,495,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC grew its position in shares of Globant by 233.3% during the first quarter. Nisa Investment Advisors LLC now owns 200 shares of the information technology services provider’s stock worth $33,000 after buying an additional 140 shares in the last quarter. DekaBank Deutsche Girozentrale raised its stake in shares of Globant by 49.0% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 1,490 shares of the information technology services provider’s stock valued at $262,000 after purchasing an additional 490 shares in the last quarter. Yorktown Management & Research Co Inc raised its stake in shares of Globant by 50.0% in the 2nd quarter. Yorktown Management & Research Co Inc now owns 2,100 shares of the information technology services provider’s stock valued at $377,000 after purchasing an additional 700 shares in the last quarter. Perpetual Ltd bought a new position in shares of Globant during the first quarter worth about $222,362,000. Finally, Alyeska Investment Group L.P. grew its stake in Globant by 122.4% in the first quarter. Alyeska Investment Group L.P. now owns 322,673 shares of the information technology services provider’s stock worth $52,922,000 after purchasing an additional 177,606 shares in the last quarter. 91.49% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several analysts have issued reports on GLOB shares. Needham & Company LLC restated a “buy” rating and set a $205.00 price objective on shares of Globant in a research note on Friday, August 18th. KeyCorp upped their price target on Globant from $201.00 to $230.00 and gave the company an “overweight” rating in a research report on Friday, July 21st. JPMorgan Chase & Co. lifted their price objective on shares of Globant from $194.00 to $236.00 and gave the stock an “overweight” rating in a report on Tuesday, August 22nd. Scotiabank initiated coverage on shares of Globant in a report on Wednesday, August 23rd. They set a “sector outperform” rating and a $210.00 target price on the stock. Finally, StockNews.com initiated coverage on shares of Globant in a research report on Thursday, October 5th. They issued a “hold” rating on the stock. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, Globant has a consensus rating of “Moderate Buy” and a consensus target price of $217.36.
Globant Price Performance
Shares of GLOB stock opened at $182.50 on Wednesday. Globant S.A. has a 12-month low of $135.40 and a 12-month high of $210.00. The firm has a market capitalization of $7.71 billion, a price-to-earnings ratio of 53.05 and a beta of 1.31. The business has a 50 day simple moving average of $190.15 and a 200 day simple moving average of $180.90.
Globant (NYSE:GLOB – Get Free Report) last released its quarterly earnings results on Thursday, August 17th. The information technology services provider reported $1.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.10 by ($0.06). The business had revenue of $497.53 million during the quarter, compared to the consensus estimate of $496.47 million. Globant had a return on equity of 11.40% and a net margin of 7.74%. On average, equities analysts anticipate that Globant S.A. will post 4.63 EPS for the current fiscal year.
Globant Company Profile
Globant SA operates as a technology services company worldwide. The company 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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