Thrivent Financial for Lutherans Sells 3,497 Shares of Globant S.A. (NYSE:GLOB)

Thrivent Financial for Lutherans reduced its position in shares of Globant S.A. (NYSE:GLOB) by 5.2% in the 4th quarter, HoldingsChannel reports. The firm owned 64,125 shares of the information technology services provider’s stock after selling 3,497 shares during the period. Thrivent Financial for Lutherans’ holdings in Globant were worth $13,787,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GLOB. Wasatch Advisors LP increased its holdings 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 buying an additional 88,829 shares in the last quarter. JPMorgan Chase & Co. raised 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 valued at $469,316,000 after purchasing an additional 153,385 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Globant by 6.4% in the fourth quarter. Victory Capital Management Inc. now owns 1,606,110 shares of the information technology services provider’s stock worth $344,382,000 after purchasing an additional 96,257 shares in the last quarter. Jennison Associates LLC grew its holdings in shares of Globant by 0.6% during the fourth 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. Finally, abrdn plc increased its stake in shares of Globant by 36.7% in the fourth quarter. abrdn plc now owns 470,150 shares of the information technology services provider’s stock valued at $101,564,000 after buying an additional 126,333 shares in the last quarter. 91.60% of the stock is currently owned by institutional investors and hedge funds.

Globant Price Performance

Shares of NYSE:GLOB opened at $130.75 on Friday. The firm’s 50 day simple moving average is $183.20 and its 200 day simple moving average is $202.85. Globant S.A. has a fifty-two week low of $124.53 and a fifty-two week high of $238.32. The company has a market capitalization of $5.76 billion, a price-to-earnings ratio of 35.15, a P/E/G ratio of 2.38 and a beta of 1.47.

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

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on GLOB. Needham & Company LLC reiterated a “buy” rating and set a $220.00 price target on shares of Globant in a research report on Wednesday, March 12th. UBS Group decreased their price target on shares of Globant from $217.00 to $190.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 26th. Scotiabank dropped their price objective 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. StockNews.com upgraded Globant from a “sell” rating to a “hold” rating in a research report on Sunday, November 24th. Finally, Jefferies Financial Group boosted their target price on Globant from $240.00 to $255.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $219.71.

Globant 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.