Globant S.A. (NYSE:GLOB) Shares Sold by New York Life Investment Management LLC

New York Life Investment Management LLC trimmed its holdings in shares of Globant S.A. (NYSE:GLOB) by 16.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,474 shares of the information technology services provider’s stock after selling 887 shares during the period. New York Life Investment Management LLC’s holdings in Globant were worth $959,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Centricity Wealth Management LLC acquired a new position in shares of Globant in the 4th quarter valued at $38,000. Kestra Investment Management LLC acquired a new position in shares of Globant in the 4th quarter valued at $38,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Globant in the 3rd quarter valued at $40,000. Van Berkom & Associates Inc. acquired a new position in shares of Globant in the 4th quarter valued at $45,000. Finally, Van ECK Associates Corp lifted its stake in shares of Globant by 62.4% in the 3rd quarter. Van ECK Associates Corp now owns 398 shares of the information technology services provider’s stock valued at $86,000 after purchasing an additional 153 shares during the period. 91.60% of the stock is currently owned by institutional investors and hedge funds.

Globant Stock Down 4.7 %

Globant stock opened at $143.47 on Tuesday. Globant S.A. has a 52-week low of $143.06 and a 52-week high of $238.32. The firm has a market capitalization of $6.18 billion, a price-to-earnings ratio of 38.57, a PEG ratio of 2.38 and a beta of 1.39. The company has a fifty day simple moving average of $205.65 and a 200-day simple moving average of $209.38.

Globant (NYSE:GLOB) last released its 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. On average, research analysts anticipate that Globant S.A. will post 5.73 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on GLOB. TD Cowen boosted their target price on shares of Globant from $230.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, November 15th. JPMorgan Chase & Co. decreased their target price on shares of Globant from $248.00 to $242.00 and set an “overweight” rating for the company in a research note on Friday, February 21st. StockNews.com upgraded shares of Globant from a “sell” rating to a “hold” rating in a research note on Sunday, November 24th. Canaccord Genuity Group reduced 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. Finally, Needham & Company LLC reduced their price objective on shares of Globant from $265.00 to $220.00 and set a “buy” rating for the company in a research report on Friday, February 21st. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $221.39.

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.