Globant S.A. (NYSE:GLOB) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC decreased its stake in Globant S.A. (NYSE:GLOB) by 7.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 632,900 shares of the information technology services provider’s stock after selling 49,464 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Globant were worth $125,403,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Quarry LP increased its holdings in Globant by 529.6% during the 2nd quarter. Quarry LP now owns 170 shares of the information technology services provider’s stock valued at $30,000 after acquiring an additional 143 shares in the last quarter. Ridgewood Investments LLC purchased a new position in Globant during the 2nd quarter valued at about $31,000. BOKF NA increased its holdings in Globant by 15,800.0% during the 1st quarter. BOKF NA now owns 159 shares of the information technology services provider’s stock valued at $32,000 after acquiring an additional 158 shares in the last quarter. ORG Partners LLC increased its holdings in Globant by 65.5% during the 3rd quarter. ORG Partners LLC now owns 192 shares of the information technology services provider’s stock valued at $38,000 after acquiring an additional 76 shares in the last quarter. Finally, American National Bank & Trust increased its holdings in Globant by 430.2% during the 3rd quarter. American National Bank & Trust now owns 228 shares of the information technology services provider’s stock valued at $45,000 after acquiring an additional 185 shares in the last quarter. Institutional investors and hedge funds own 91.60% of the company’s stock.

Globant Trading Up 3.3 %

NYSE GLOB opened at $223.67 on Monday. The company’s fifty day simple moving average is $200.11 and its 200-day simple moving average is $186.44. Globant S.A. has a 52 week low of $151.68 and a 52 week high of $251.50. The stock has a market cap of $9.64 billion, a P/E ratio of 58.71, a PEG ratio of 2.61 and a beta of 1.39.

Globant (NYSE:GLOB) last posted its earnings results on Thursday, August 15th. The information technology services provider reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.50 by $0.01. Globant had a net margin of 7.39% and a return on equity of 11.68%. The business had revenue of $587.46 million for the quarter, compared to analysts’ expectations of $586.72 million. During the same period in the previous year, the company posted $1.04 earnings per share. The business’s revenue for the quarter was up 18.1% compared to the same quarter last year. On average, research analysts expect that Globant S.A. will post 5.02 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on GLOB shares. Jefferies Financial Group raised their target price on shares of Globant from $235.00 to $240.00 and gave the company a “buy” rating in a report on Monday, September 9th. The Goldman Sachs Group initiated coverage on shares of Globant in a research report on Monday, June 24th. They issued a “buy” rating and a $200.00 target price on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Globant in a research report on Thursday, August 22nd. They issued a “hold” rating and a $210.00 target price on the stock. Scotiabank raised their target price on shares of Globant from $200.00 to $210.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 21st. Finally, JPMorgan Chase & Co. raised their target price on shares of Globant from $226.00 to $237.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, Globant presently has an average rating of “Moderate Buy” and a consensus price target of $224.00.

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.