Martin Currie Ltd. Sells 9,647 Shares of Globant S.A. (NYSE:GLOB)

Martin Currie Ltd. decreased its stake in Globant S.A. (NYSE:GLOB) by 2.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 397,309 shares of the information technology services provider’s stock after selling 9,647 shares during the quarter. Globant makes up 3.1% of Martin Currie Ltd.’s holdings, making the stock its 9th largest position. Martin Currie Ltd. owned about 0.92% of Globant worth $85,191,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GLOB. GQG Partners LLC purchased a new position in Globant in the 4th quarter valued at about $84,906,000. JPMorgan Chase & Co. increased its stake 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 buying an additional 203,472 shares in the last quarter. abrdn plc raised its holdings in shares of Globant by 36.7% during the fourth quarter. abrdn plc now owns 470,150 shares of the information technology services provider’s stock valued at $101,564,000 after acquiring an additional 126,333 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of 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 acquiring an additional 96,257 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Globant by 315.8% during the fourth quarter. Principal Financial Group Inc. now owns 126,199 shares of the information technology services provider’s stock worth $27,060,000 after purchasing an additional 95,848 shares in the last quarter. 91.60% of the stock is owned by institutional investors and hedge funds.

Globant Price Performance

Shares of NYSE:GLOB opened at $118.48 on Friday. The firm has a market capitalization of $5.22 billion, a PE ratio of 31.85, a price-to-earnings-growth ratio of 2.38 and a beta of 1.47. Globant S.A. has a 1 year low of $117.61 and a 1 year high of $238.32. The firm’s 50-day moving average is $174.61 and its two-hundred day moving average is $200.39.

Globant (NYSE:GLOB) last announced 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). 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. Analysts expect that Globant S.A. will post 5.73 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on GLOB shares. StockNews.com lowered Globant from a “hold” rating to a “sell” rating in a research note on Saturday. Piper Sandler dropped their price objective on shares of Globant from $237.00 to $230.00 and set an “overweight” rating for the company in a report on Friday, February 21st. JPMorgan Chase & Co. cut their price objective on shares of Globant from $248.00 to $242.00 and set an “overweight” rating for the company in a research report on Friday, February 21st. Needham & Company LLC reiterated a “buy” rating and issued a $220.00 target price on shares of Globant in a report on Wednesday, March 12th. Finally, Susquehanna began coverage on shares of Globant in a report on Tuesday, December 17th. They set a “positive” rating and a $255.00 price target for the company. One research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $219.71.

About Globant

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.