Globant S.A. (NYSE:GLOB) Shares Sold by Yorktown Management & Research Co Inc

Yorktown Management & Research Co Inc reduced its stake in Globant S.A. (NYSE:GLOB) by 45.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,100 shares of the information technology services provider’s stock after selling 1,740 shares during the quarter. Yorktown Management & Research Co Inc’s holdings in Globant were worth $247,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Manning & Napier Advisors LLC grew its holdings in shares of Globant by 86.3% in the 1st quarter. Manning & Napier Advisors LLC now owns 907,659 shares of the information technology services provider’s stock worth $106,850,000 after acquiring an additional 420,382 shares during the last quarter. GQG Partners LLC bought a new position in Globant during the fourth quarter valued at about $84,906,000. Canada Pension Plan Investment Board bought a new stake in shares of Globant in the 4th quarter valued at approximately $60,913,000. JPMorgan Chase & Co. grew its position in Globant by 8.6% during the 4th quarter. JPMorgan Chase & Co. now owns 2,572,080 shares of the information technology services provider’s stock worth $551,506,000 after acquiring an additional 203,472 shares during the last quarter. Finally, Capital International Investors lifted its holdings in Globant by 13.1% during the 4th quarter. Capital International Investors now owns 1,700,519 shares of the information technology services provider’s stock worth $364,723,000 after buying an additional 197,064 shares in the last quarter. 91.60% of the stock is currently owned by hedge funds and other institutional investors.

Globant Stock Performance

Globant stock opened at $88.40 on Tuesday. The stock has a market cap of $3.89 billion, a P/E ratio of 26.15, a price-to-earnings-growth ratio of 1.69 and a beta of 1.24. The stock has a 50 day moving average of $107.76 and a 200-day moving average of $154.10. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.13. Globant S.A. has a 52 week low of $86.02 and a 52 week high of $238.32.

Globant (NYSE:GLOB) last issued its quarterly earnings results on Thursday, May 15th. The information technology services provider reported $1.50 earnings per share for the quarter, missing analysts’ consensus estimates of $1.58 by ($0.08). The company had revenue of $611.09 million during the quarter, compared to analysts’ expectations of $622.18 million. Globant had a return on equity of 11.08% and a net margin of 6.16%. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.53 EPS. On average, analysts expect that Globant S.A. will post 5.73 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Susquehanna lowered their target price on Globant from $225.00 to $160.00 and set a “positive” rating for the company in a report on Wednesday, April 23rd. UBS Group decreased their target price 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. Piper Sandler lowered shares of Globant from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $154.00 to $116.00 in a report on Friday, May 16th. The Goldman Sachs Group lowered shares of Globant from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $225.00 to $120.00 in a research note on Friday, May 16th. Finally, Redburn Atlantic raised shares of 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 report on Tuesday, February 25th. Eight analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $179.19.

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.