Private Advisor Group LLC Sells 193 Shares of Globant S.A. (NYSE:GLOB)

Private Advisor Group LLC cut its holdings in Globant S.A. (NYSE:GLOB) by 12.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,382 shares of the information technology services provider’s stock after selling 193 shares during the quarter. Private Advisor Group LLC’s holdings in Globant were worth $274,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of GLOB. Norden Group LLC bought a new stake in shares of Globant in the first quarter worth about $659,000. BNP Paribas Financial Markets lifted its holdings in Globant by 733.4% in the first quarter. BNP Paribas Financial Markets now owns 18,235 shares of the information technology services provider’s stock worth $3,682,000 after buying an additional 16,047 shares during the period. Janney Montgomery Scott LLC lifted its holdings in Globant by 11.9% in the first quarter. Janney Montgomery Scott LLC now owns 16,157 shares of the information technology services provider’s stock worth $3,262,000 after buying an additional 1,715 shares during the period. Duality Advisers LP purchased a new stake in Globant in the first quarter worth about $343,000. Finally, Sei Investments Co. lifted its holdings in Globant by 6.2% in the first quarter. Sei Investments Co. now owns 357,804 shares of the information technology services provider’s stock worth $72,241,000 after buying an additional 21,042 shares during the period. 91.60% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on GLOB shares. Piper Sandler restated 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. StockNews.com lowered shares of Globant from a “hold” rating to a “sell” rating in a report on Thursday, October 31st. KeyCorp raised their price objective on shares of Globant from $220.00 to $235.00 and gave the stock an “overweight” rating in a report on Friday, August 16th. Deutsche Bank Aktiengesellschaft started coverage on shares of Globant in a report on Thursday, August 22nd. They issued a “hold” rating and a $210.00 price objective for the company. Finally, Jefferies Financial Group raised their price objective on shares of Globant from $235.00 to $240.00 and gave the stock a “buy” rating in a report on Monday, September 9th. 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’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $226.21.

Globant Trading Up 2.8 %

GLOB stock opened at $218.91 on Thursday. The stock has a market capitalization of $9.43 billion, a PE ratio of 57.16, a price-to-earnings-growth ratio of 2.60 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 stock’s 50 day simple moving average is $204.78 and its 200 day simple moving average is $188.74.

Globant (NYSE:GLOB) last released 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. The business had revenue of $587.46 million for the quarter, compared to analysts’ expectations of $586.72 million. Globant had a return on equity of 11.68% and a net margin of 7.39%. The firm’s quarterly revenue was up 18.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.04 EPS. On average, research analysts predict 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.