Globant S.A. (NYSE:GLOB) Stake Lessened by Future Fund LLC

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

Several other hedge funds also recently added to or reduced their stakes in GLOB. Wasatch Advisors LP lifted its position in shares of Globant by 2.6% during 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 purchasing an additional 88,829 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Globant by 6.9% during 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 buying an additional 153,385 shares during the last quarter. Victory Capital Management Inc. grew its position in shares of Globant by 6.4% in the 4th quarter. Victory Capital Management Inc. now owns 1,606,110 shares of the information technology services provider’s stock worth $344,382,000 after acquiring an additional 96,257 shares in the last quarter. Jennison Associates LLC grew its position in shares of Globant by 0.6% in the 4th quarter. Jennison Associates LLC now owns 802,547 shares of the information technology services provider’s stock worth $172,082,000 after acquiring an additional 4,970 shares in the last quarter. Finally, abrdn plc increased its holdings in shares of Globant by 36.7% in the 4th quarter. abrdn plc now owns 470,150 shares of the information technology services provider’s stock valued at $101,564,000 after acquiring an additional 126,333 shares during the last quarter. 91.60% of the stock is owned by institutional investors and hedge funds.

Globant Stock Down 0.3 %

GLOB stock opened at $140.31 on Monday. The company has a 50-day simple moving average of $199.61 and a 200 day simple moving average of $207.69. The company has a market capitalization 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 fifty-two week low of $138.24 and a fifty-two week 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 the consensus estimate of $1.75 by ($0.39). Globant had a net margin of 6.86% and a return on equity of 11.83%. The company had revenue of $642.48 million during the quarter, compared to the consensus estimate of $644.42 million. Equities analysts anticipate that Globant S.A. will post 5.73 EPS for the current year.

Analysts Set New Price Targets

GLOB has been the topic of several research analyst reports. Redburn Atlantic upgraded Globant from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $140.00 to $150.00 in a research note on Tuesday, February 25th. Susquehanna began coverage on shares of Globant in a report on Tuesday, December 17th. They issued a “positive” rating and a $255.00 price target for the company. Canaccord Genuity Group lowered their price objective on shares of Globant from $205.00 to $165.00 and set a “hold” rating for the company in a research report on Monday, February 24th. StockNews.com raised shares of Globant from a “sell” rating to a “hold” rating in a report on Sunday, November 24th. Finally, Needham & Company LLC lowered their target price on Globant from $265.00 to $220.00 and set a “buy” rating for the company in a report on Friday, February 21st. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $221.39.

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.