Globant S.A. (NYSE:GLOB) Shares Sold by Future Fund LLC

Future Fund LLC trimmed its holdings in shares of Globant S.A. (NYSE:GLOB) by 62.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,826 shares of the information technology services provider’s stock after selling 3,042 shares during the period. Future Fund LLC’s holdings in Globant were worth $392,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of GLOB. Equitable Trust Co. lifted 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 purchasing an additional 50 shares in the last quarter. M&T Bank Corp lifted its stake in shares of Globant by 3.8% during 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 buying an additional 60 shares during the period. Franklin Resources Inc. lifted its stake in shares of Globant by 0.6% during 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 buying an additional 71 shares during the period. PNC Financial Services Group Inc. boosted its position in Globant by 2.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,813 shares of the information technology services provider’s stock worth $1,032,000 after acquiring an additional 118 shares during the last quarter. Finally, National Bank of Canada FI grew 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 acquiring an additional 122 shares during the period. 91.60% of the stock is currently owned by institutional investors and hedge funds.

Globant Stock Performance

Shares of NYSE:GLOB opened at $140.31 on Monday. The business’s 50-day simple moving average is $199.61 and its 200 day simple moving average is $207.69. The company has a market cap of $6.18 billion, a P/E ratio of 37.72, a PEG ratio of 2.38 and a beta of 1.47. Globant S.A. has a one year low of $138.24 and a one year high of $238.32.

Globant (NYSE:GLOB) last posted its quarterly earnings data on Thursday, February 20th. The information technology services provider reported $1.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.39). The firm had revenue of $642.48 million for the quarter, compared to analysts’ expectations of $644.42 million. Globant had a net margin of 6.86% and a return on equity of 11.83%. Analysts predict that Globant S.A. will post 5.73 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on GLOB. Susquehanna started coverage on Globant in a research note on Tuesday, December 17th. They set a “positive” rating and a $255.00 price target on the stock. Canaccord Genuity Group decreased their price target on Globant from $205.00 to $165.00 and set a “hold” rating on the stock in a research note on Monday, February 24th. Needham & Company LLC lowered their price target on Globant from $265.00 to $220.00 and set a “buy” rating for the company in a report on Friday, February 21st. UBS Group cut their price objective on shares of Globant from $217.00 to $190.00 and set a “neutral” rating on the stock in a report on Wednesday, February 26th. Finally, Piper Sandler lowered their target price on shares of Globant from $237.00 to $230.00 and set an “overweight” rating for the company in a report on Friday, February 21st. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, Globant currently has an average rating of “Moderate Buy” and an average price target of $221.39.

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.