Globant S.A. (NYSE:GLOB) Position Trimmed by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp reduced its stake in shares of Globant S.A. (NYSE:GLOB) by 0.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 489,082 shares of the information technology services provider’s stock after selling 1,485 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned approximately 1.14% of Globant worth $104,869,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in the stock. Centricity Wealth Management LLC purchased a new stake in shares of Globant during the fourth quarter worth $38,000. Kestra Investment Management LLC acquired a new stake in Globant in the fourth quarter valued at approximately $38,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Globant during the 3rd quarter worth $40,000. Van Berkom & Associates Inc. acquired a new stake in shares of Globant in the 4th quarter valued at $45,000. Finally, Promus Capital LLC bought a new stake in Globant in the fourth quarter worth $64,000. Institutional investors and hedge funds own 91.60% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Needham & Company LLC reiterated a “buy” rating and set a $220.00 price target on shares of Globant in a research note on Wednesday, March 12th. JPMorgan Chase & Co. dropped their price target on shares of Globant from $248.00 to $242.00 and set an “overweight” rating on the stock in a research report on Friday, February 21st. Jefferies Financial Group raised their target price on shares of Globant from $240.00 to $255.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Scotiabank cut their target price on shares of Globant from $220.00 to $170.00 and set a “sector perform” rating for the company in a research report on Monday, February 24th. Finally, Susquehanna initiated coverage on Globant in a research report on Tuesday, December 17th. They issued a “positive” rating and a $255.00 price target on the stock. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $219.71.

Globant Price Performance

NYSE GLOB opened at $129.49 on Tuesday. The stock’s 50 day simple moving average is $181.64 and its 200 day simple moving average is $202.43. Globant S.A. has a one year low of $124.53 and a one year high of $238.32. The firm has a market cap of $5.70 billion, a PE ratio of 34.81, a price-to-earnings-growth ratio of 2.38 and a beta of 1.47.

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

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.