Bell Bank Sells 108 Shares of Globant S.A. (NYSE:GLOB)

Bell Bank decreased its stake in Globant S.A. (NYSE:GLOB) by 2.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,206 shares of the information technology services provider’s stock after selling 108 shares during the period. Bell Bank’s holdings in Globant were worth $1,116,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Equitable Trust Co. grew its holdings in Globant by 1.1% in the 3rd quarter. Equitable Trust Co. now owns 4,550 shares of the information technology services provider’s stock valued at $902,000 after buying an additional 50 shares in the last quarter. M&T Bank Corp grew its stake in shares of Globant by 3.8% in the third 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. Franklin Resources Inc. grew its stake in shares of Globant by 0.6% in the third quarter. Franklin Resources Inc. now owns 12,800 shares of the information technology services provider’s stock valued at $2,704,000 after acquiring an additional 71 shares in the last quarter. Signaturefd LLC increased its position in Globant by 46.0% during the third quarter. Signaturefd LLC now owns 292 shares of the information technology services provider’s stock worth $58,000 after acquiring an additional 92 shares during the period. Finally, National Bank of Canada FI raised its stake in Globant by 3.3% in the 3rd quarter. National Bank of Canada FI now owns 3,816 shares of the information technology services provider’s stock worth $756,000 after purchasing an additional 122 shares in the last quarter. Institutional investors and hedge funds own 91.60% of the company’s stock.

Globant Price Performance

GLOB opened at $152.02 on Friday. Globant S.A. has a fifty-two week low of $151.38 and a fifty-two week high of $238.32. The company’s 50 day moving average price is $215.37 and its two-hundred day moving average price is $210.82. The firm has a market capitalization of $6.55 billion, a price-to-earnings ratio of 39.69, a PEG ratio of 2.46 and a beta of 1.39.

Globant (NYSE:GLOB) last issued its quarterly earnings data on Thursday, February 20th. The information technology services provider reported $1.36 earnings per share for the quarter, missing the consensus estimate of $1.75 by ($0.39). The business had revenue of $642.48 million during the quarter, compared to the consensus estimate of $644.42 million. Globant had a return on equity of 11.65% and a net margin of 7.20%. As a group, equities research analysts predict that Globant S.A. will post 4.98 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently issued reports on GLOB. Scotiabank increased their price target on Globant from $210.00 to $220.00 and gave the stock a “sector perform” rating in a research report on Tuesday, November 19th. Jefferies Financial Group raised their price target on Globant from $240.00 to $255.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. JPMorgan Chase & Co. decreased their target price on shares of Globant from $248.00 to $242.00 and set an “overweight” rating on the stock in a report on Friday. UBS Group cut their price target on shares of Globant from $222.00 to $217.00 and set a “neutral” rating for the company in a report on Monday, February 3rd. Finally, StockNews.com raised shares of Globant from a “sell” rating to a “hold” rating in a research note on Sunday, November 24th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $227.06.

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.