Harbour Capital Advisors LLC Sells 85 Shares of Globant S.A. (NYSE:GLOB)

Harbour Capital Advisors LLC trimmed its holdings in Globant S.A. (NYSE:GLOB) by 6.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,332 shares of the information technology services provider’s stock after selling 85 shares during the quarter. Harbour Capital Advisors LLC’s holdings in Globant were worth $282,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. nVerses Capital LLC bought a new stake in shares of Globant in the third quarter valued at approximately $575,000. Bfsg LLC bought a new position in Globant in the third quarter worth $986,000. Creative Planning lifted its position in Globant by 20.5% in the third quarter. Creative Planning now owns 2,062 shares of the information technology services provider’s stock worth $409,000 after purchasing an additional 351 shares during the period. ORG Partners LLC lifted its position in Globant by 65.5% in the third quarter. ORG Partners LLC now owns 192 shares of the information technology services provider’s stock worth $38,000 after purchasing an additional 76 shares during the period. Finally, Artemis Investment Management LLP bought a new position in Globant in the third quarter worth $4,594,000. 91.60% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Jefferies Financial Group increased their price objective on Globant from $235.00 to $240.00 and gave the stock a “buy” rating in a research note on Monday, September 9th. Scotiabank increased their price objective on Globant from $200.00 to $210.00 and gave the stock a “sector perform” rating in a research note on Wednesday, August 21st. Citigroup increased their price objective on Globant from $215.00 to $220.00 and gave the stock a “buy” rating in a research note on Friday, July 12th. StockNews.com lowered Globant from a “hold” rating to a “sell” rating in a research note on Tuesday, August 27th. Finally, UBS Group restated a “neutral” rating and issued a $235.00 target price (up from $225.00) on shares of Globant in a research note on Tuesday, August 20th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $224.00.

Globant Trading Up 3.4 %

Shares of GLOB opened at $223.85 on Friday. Globant S.A. has a 1 year low of $151.68 and a 1 year high of $251.50. The stock has a market cap of $9.64 billion, a P/E ratio of 58.75, a price-to-earnings-growth ratio of 2.61 and a beta of 1.39. The stock’s 50-day moving average price is $200.11 and its two-hundred day moving average price is $186.61.

Globant (NYSE:GLOB) last issued its earnings results on Thursday, August 15th. The information technology services provider reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.50 by $0.01. Globant had a return on equity of 11.68% and a net margin of 7.39%. The firm had revenue of $587.46 million for the quarter, compared to analysts’ expectations of $586.72 million. During the same quarter last year, the business earned $1.04 earnings per share. The company’s revenue was up 18.1% compared to the same quarter last year. As a group, equities analysts forecast that Globant S.A. will post 5.02 EPS for the current year.

Globant Company 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.