Globant S.A. (NYSE:GLOB) Holdings Cut by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans reduced its stake in shares of Globant S.A. (NYSE:GLOB) by 5.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 64,125 shares of the information technology services provider’s stock after selling 3,497 shares during the period. Thrivent Financial for Lutherans owned 0.15% of Globant worth $13,787,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. JPMorgan Chase & Co. increased its position in Globant by 6.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,368,608 shares of the information technology services provider’s stock worth $469,316,000 after purchasing an additional 153,385 shares during the last quarter. abrdn plc increased its holdings in Globant by 36.7% in the fourth quarter. abrdn plc now owns 470,150 shares of the information technology services provider’s stock worth $101,564,000 after buying an additional 126,333 shares during the last quarter. Victory Capital Management Inc. raised its position in Globant by 6.4% during the fourth quarter. Victory Capital Management Inc. now owns 1,606,110 shares of the information technology services provider’s stock valued at $344,382,000 after acquiring an additional 96,257 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Globant by 315.8% in the fourth quarter. Principal Financial Group Inc. now owns 126,199 shares of the information technology services provider’s stock valued at $27,060,000 after acquiring an additional 95,848 shares during the last quarter. Finally, Wasatch Advisors LP grew its position in Globant by 2.6% in the third quarter. Wasatch Advisors LP now owns 3,480,129 shares of the information technology services provider’s stock worth $689,553,000 after acquiring an additional 88,829 shares in the last quarter. 91.60% of the stock is owned by institutional investors and hedge funds.

Globant Trading Up 1.2 %

GLOB opened at $130.75 on Friday. The stock’s 50 day simple moving average is $183.20 and its 200-day simple moving average is $202.85. The stock has a market cap of $5.76 billion, a PE ratio of 35.15, a P/E/G ratio of 2.38 and a beta of 1.47. Globant S.A. has a 1 year low of $124.53 and a 1 year high of $238.32.

Globant (NYSE:GLOB) last announced its quarterly earnings results on Thursday, February 20th. The information technology services provider reported $1.36 earnings per share (EPS) 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 net margin of 6.86% and a return on equity of 11.83%. Equities analysts forecast that Globant S.A. will post 5.73 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Piper Sandler cut their target price on Globant from $237.00 to $230.00 and set an “overweight” rating on the stock in a report on Friday, February 21st. Scotiabank cut their price objective on Globant from $220.00 to $170.00 and set a “sector perform” rating on the stock in a research note on Monday, February 24th. StockNews.com raised Globant from a “sell” rating to a “hold” rating in a research report on Sunday, November 24th. Jefferies Financial Group lifted their price target on shares of Globant from $240.00 to $255.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. Finally, Canaccord Genuity Group decreased their price objective on shares of Globant from $205.00 to $165.00 and set a “hold” rating for the company in a report on Monday, February 24th. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, Globant has a consensus rating of “Moderate Buy” and an average price target of $219.71.

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.