Paradiem LLC Sells 2,275 Shares of Globant S.A. (NYSE:GLOB)

Paradiem LLC trimmed its holdings in shares of Globant S.A. (NYSE:GLOB) by 41.9% during the 4th quarter, Holdings Channel reports. The fund owned 3,150 shares of the information technology services provider’s stock after selling 2,275 shares during the period. Paradiem LLC’s holdings in Globant were worth $750,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. CI Investments Inc. lifted its position in shares of Globant by 122.0% during the third quarter. CI Investments Inc. now owns 131 shares of the information technology services provider’s stock valued at $26,000 after buying an additional 72 shares during the last quarter. GAMMA Investing LLC purchased a new stake in shares of Globant during the fourth quarter valued at about $68,000. CWM LLC lifted its position in shares of Globant by 20.9% during the third quarter. CWM LLC now owns 504 shares of the information technology services provider’s stock valued at $100,000 after buying an additional 87 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Globant by 68,900.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 690 shares of the information technology services provider’s stock valued at $164,000 after buying an additional 689 shares during the last quarter. Finally, Beaumont Financial Advisors LLC purchased a new stake in shares of Globant during the fourth quarter valued at about $201,000. 91.60% of the stock is currently owned by institutional investors.

Globant Trading Up 0.9 %

GLOB stock traded up $1.69 during midday trading on Friday, reaching $180.83. The stock had a trading volume of 375,732 shares, compared to its average volume of 344,739. The company’s fifty day simple moving average is $204.22 and its 200 day simple moving average is $212.07. The company has a market cap of $7.79 billion, a price-to-earnings ratio of 49.82, a price-to-earnings-growth ratio of 1.37 and a beta of 1.35. Globant S.A. has a 52-week low of $135.40 and a 52-week high of $251.50.

Globant (NYSE:GLOB) last announced its quarterly earnings data on Thursday, February 15th. The information technology services provider reported $1.26 earnings per share for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.08). The firm had revenue of $580.71 million during the quarter, compared to analysts’ expectations of $579.70 million. Globant had a net margin of 7.56% and a return on equity of 11.38%. Sell-side analysts predict that Globant S.A. will post 5.03 EPS for the current year.

Analyst Ratings Changes

Several analysts have commented on GLOB shares. UBS Group increased their price target on shares of Globant from $230.00 to $240.00 and gave the company a “neutral” rating in a research report on Monday, February 26th. Wedbush reaffirmed an “outperform” rating and issued a $250.00 price objective on shares of Globant in a research report on Friday, February 16th. HSBC decreased their price objective on shares of Globant from $275.00 to $270.00 and set a “buy” rating for the company in a research report on Wednesday, April 3rd. Guggenheim initiated coverage on shares of Globant in a research report on Tuesday, March 19th. They issued a “buy” rating and a $250.00 price objective for the company. Finally, Citigroup decreased their price objective on shares of Globant from $275.00 to $235.00 and set a “buy” rating for the company in a research report on Monday, April 22nd. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, Globant presently has a consensus rating of “Moderate Buy” and a consensus target price of $244.24.

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.