Wasatch Advisors LP Sells 54,551 Shares of Globant S.A. (NYSE:GLOB)

Wasatch Advisors LP cut its position in shares of Globant S.A. (NYSE:GLOB) by 1.6% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 3,425,578 shares of the information technology services provider’s stock after selling 54,551 shares during the quarter. Globant makes up about 3.6% of Wasatch Advisors LP’s portfolio, making the stock its largest holding. Wasatch Advisors LP owned about 0.08% of Globant worth $734,512,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the company. Barclays PLC increased its holdings in Globant by 132.9% in the third quarter. Barclays PLC now owns 22,537 shares of the information technology services provider’s stock worth $4,467,000 after purchasing an additional 12,862 shares in the last quarter. M&T Bank Corp increased its stake in shares of Globant by 3.8% in the 3rd quarter. M&T Bank Corp now owns 1,641 shares of the information technology services provider’s stock valued at $326,000 after acquiring an additional 60 shares in the last quarter. Sanctuary Advisors LLC increased its stake in shares of Globant by 26.2% in the 3rd quarter. Sanctuary Advisors LLC now owns 3,312 shares of the information technology services provider’s stock valued at $656,000 after acquiring an additional 688 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Globant during the 3rd quarter valued at $40,000. Finally, Franklin Resources Inc. boosted its stake in Globant by 0.6% during the third quarter. Franklin Resources Inc. now owns 12,800 shares of the information technology services provider’s stock worth $2,704,000 after acquiring an additional 71 shares in the last quarter. Institutional investors own 91.60% of the company’s stock.

Globant Stock Up 0.4 %

GLOB stock opened at $108.40 on Wednesday. The business has a 50 day moving average of $145.87 and a 200-day moving average of $191.85. The firm has a market cap of $4.77 billion, a PE ratio of 29.14, a P/E/G ratio of 2.38 and a beta of 1.50. Globant S.A. has a 12-month low of $96.23 and a 12-month high of $238.32.

Globant (NYSE:GLOB) last announced its earnings results on Thursday, February 20th. The information technology services provider reported $1.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.75 by ($0.39). The business had revenue of $642.48 million for the quarter, compared to analysts’ expectations of $644.42 million. Globant had a net margin of 6.86% and a return on equity of 11.83%. On average, research analysts expect that Globant S.A. will post 5.73 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Scotiabank decreased their price target on shares of Globant from $220.00 to $170.00 and set a “sector perform” rating for the company in a research note on Monday, February 24th. Redburn Atlantic raised Globant from a “sell” rating to a “neutral” rating and boosted their target price for the company from $140.00 to $150.00 in a research report on Tuesday, February 25th. Susquehanna cut their price target on Globant from $255.00 to $225.00 and set a “positive” rating on the stock in a report on Tuesday, April 8th. StockNews.com cut Globant from a “hold” rating to a “sell” rating in a research note on Monday. Finally, UBS Group lowered their target price on Globant from $217.00 to $190.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $214.69.

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.