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

Paradiem LLC lowered its position in Globant S.A. (NYSE:GLOB) by 41.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. 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 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Russell Investments Group Ltd. raised its position in Globant by 5.1% in the 4th quarter. Russell Investments Group Ltd. now owns 102,269 shares of the information technology services provider’s stock worth $24,338,000 after purchasing an additional 4,940 shares during the last quarter. GAMMA Investing LLC acquired a new position in shares of Globant in the 4th quarter valued at $68,000. Parkside Financial Bank & Trust grew its holdings in shares of Globant by 6.4% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,704 shares of the information technology services provider’s stock valued at $406,000 after buying an additional 103 shares during the period. New York State Common Retirement Fund boosted its stake in Globant by 10.8% in the 4th quarter. New York State Common Retirement Fund now owns 85,345 shares of the information technology services provider’s stock worth $20,310,000 after purchasing an additional 8,322 shares during the period. Finally, Jennison Associates LLC boosted its stake in Globant by 289.5% in the 4th quarter. Jennison Associates LLC now owns 960,833 shares of the information technology services provider’s stock worth $228,659,000 after purchasing an additional 714,162 shares during the period. Institutional investors own 91.60% of the company’s stock.

Analyst Upgrades and Downgrades

GLOB has been the topic of several analyst reports. Wedbush reissued an “outperform” rating and set a $250.00 price target on shares of Globant in a research report on Friday, February 16th. KeyCorp upped their target price on shares of Globant from $266.00 to $272.00 and gave the company an “overweight” rating in a report on Friday, February 16th. UBS Group upped their target price on shares of Globant from $230.00 to $240.00 and gave the company a “neutral” rating in a report on Monday, February 26th. Guggenheim initiated coverage on shares of Globant in a report on Tuesday, March 19th. They issued a “buy” rating and a $250.00 target price on the stock. Finally, HSBC lowered their price target on shares of Globant from $275.00 to $270.00 and set a “buy” rating on the stock in a report on Wednesday, April 3rd. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $244.24.

Globant Stock Up 0.9 %

Shares of GLOB stock traded up $1.69 during trading hours on Friday, hitting $180.83. 375,732 shares of the company’s stock traded hands, compared to its average volume of 344,739. The stock’s 50 day simple moving average is $204.22 and its 200 day simple moving average is $212.07. The stock has a market cap of $7.79 billion, a PE ratio of 49.82, a price-to-earnings-growth ratio of 1.37 and a beta of 1.35. Globant S.A. has a 12 month low of $135.40 and a 12 month high of $251.50.

Globant (NYSE:GLOB) last released its quarterly earnings results on Thursday, February 15th. The information technology services provider reported $1.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.34 by ($0.08). The business had revenue of $580.71 million for the quarter, compared to the consensus estimate of $579.70 million. Globant had a net margin of 7.56% and a return on equity of 11.38%. As a group, equities research analysts expect that Globant S.A. will post 5.03 EPS for the current fiscal year.

Globant Profile

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.