Bamco Inc. NY Sells 816 Shares of Globant S.A. (NYSE:GLOB)

Bamco Inc. NY reduced its holdings in shares of Globant S.A. (NYSE:GLOB) by 0.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 95,901 shares of the information technology services provider’s stock after selling 816 shares during the quarter. Bamco Inc. NY’s holdings in Globant were worth $19,362,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Accent Capital Management LLC bought a new position in shares of Globant in the fourth quarter valued at $29,000. BOKF NA grew its stake in shares of Globant by 15,800.0% in the first quarter. BOKF NA now owns 159 shares of the information technology services provider’s stock valued at $32,000 after buying an additional 158 shares in the last quarter. Principal Securities Inc. bought a new position in shares of Globant in the fourth quarter valued at $56,000. RiverPark Advisors LLC bought a new position in shares of Globant in the first quarter valued at $54,000. Finally, GAMMA Investing LLC bought a new position in shares of Globant in the fourth quarter valued at $68,000. 91.60% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. TD Cowen decreased their target price on shares of Globant from $235.00 to $220.00 and set a “buy” rating for the company in a research note on Friday, May 17th. Redburn Atlantic began coverage on shares of Globant in a research report on Friday, May 24th. They set a “sell” rating and a $135.00 price objective for the company. KeyCorp reduced their price objective on shares of Globant from $272.00 to $220.00 and set an “overweight” rating for the company in a research report on Friday, May 17th. Scotiabank reduced their price objective on shares of Globant from $200.00 to $190.00 and set a “sector perform” rating for the company in a research report on Friday, May 17th. Finally, StockNews.com raised shares of Globant from a “sell” rating to a “hold” rating in a research report on Tuesday, May 21st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, Globant has a consensus rating of “Moderate Buy” and a consensus price target of $216.72.

Globant Price Performance

GLOB stock traded down $4.47 during midday trading on Friday, reaching $192.60. The company had a trading volume of 625,085 shares, compared to its average volume of 513,173. The company has a market capitalization of $8.30 billion, a price-to-earnings ratio of 50.55, a price-to-earnings-growth ratio of 1.99 and a beta of 1.41. The stock has a 50 day moving average price of $173.56 and a 200-day moving average price of $196.94. Globant S.A. has a 1-year low of $151.68 and a 1-year high of $251.50.

Globant (NYSE:GLOB) last posted its quarterly earnings results on Thursday, May 16th. The information technology services provider reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $1.18 by $0.01. The business had revenue of $571.08 million during the quarter, compared to the consensus estimate of $570.72 million. Globant had a return on equity of 11.60% and a net margin of 7.62%. As a group, research analysts anticipate that Globant S.A. will post 5 earnings per share for the current 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.