Capital International Investors Increases Holdings in Globant S.A. (NYSE:GLOB)

Capital International Investors boosted its position in shares of Globant S.A. (NYSE:GLOB) by 13.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,700,519 shares of the information technology services provider’s stock after purchasing an additional 197,064 shares during the quarter. Capital International Investors owned about 3.95% of Globant worth $364,723,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. JPMorgan Chase & Co. increased its holdings in Globant by 8.6% during the fourth quarter. JPMorgan Chase & Co. now owns 2,572,080 shares of the information technology services provider’s stock valued at $551,506,000 after buying an additional 203,472 shares during the period. Victory Capital Management Inc. raised 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 lifted its stake in shares of Globant by 0.6% during the 4th quarter. Jennison Associates LLC now owns 802,547 shares of the information technology services provider’s stock worth $172,082,000 after purchasing an additional 4,970 shares during the last quarter. Sei Investments Co. boosted its position in Globant by 3.5% during the fourth quarter. Sei Investments Co. now owns 602,802 shares of the information technology services provider’s stock valued at $129,252,000 after purchasing an additional 20,365 shares in the last quarter. Finally, FMR LLC grew its stake in Globant by 17.4% in the fourth quarter. FMR LLC now owns 554,086 shares of the information technology services provider’s stock valued at $118,807,000 after purchasing an additional 82,309 shares during the last quarter. 91.60% of the stock is currently owned by hedge funds and other institutional investors.

Globant Stock Performance

GLOB stock opened at $105.69 on Friday. The firm’s fifty day moving average is $139.24 and its 200 day moving average is $190.00. The firm has a market cap of $4.65 billion, a PE ratio of 28.41, a P/E/G ratio of 2.38 and a beta of 1.50. Globant S.A. has a one year low of $96.23 and a one year high of $238.32.

Globant (NYSE:GLOB) last issued its quarterly earnings results 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). Globant had a return on equity of 11.83% and a net margin of 6.86%. The business had revenue of $642.48 million for the quarter, compared to analysts’ expectations of $644.42 million. Research analysts predict that Globant S.A. will post 5.73 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on GLOB. Canaccord Genuity Group cut their price objective on shares of Globant from $205.00 to $165.00 and set a “hold” rating on the stock in a research report on Monday, February 24th. Piper Sandler decreased their price objective on Globant from $230.00 to $154.00 and set an “overweight” rating for the company in a report on Wednesday. StockNews.com downgraded Globant from a “hold” rating to a “sell” rating in a research note on Monday, April 14th. Redburn Atlantic upgraded Globant from a “sell” rating to a “neutral” rating and increased their price target for the company from $140.00 to $150.00 in a research note on Tuesday, February 25th. Finally, JPMorgan Chase & Co. dropped their price target on Globant from $248.00 to $242.00 and set an “overweight” rating on the stock in a research note on Friday, February 21st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $209.94.

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.