Victory Capital Management Inc. Sells 10,885 Shares of Globant S.A. (NYSE:GLOB)
Victory Capital Management Inc. lessened its stake in shares of Globant S.A. (NYSE:GLOB – Get Rating) by 22.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 36,928 shares of the information technology services provider’s stock after selling 10,885 shares during the period. Victory Capital Management Inc. owned 0.09% of Globant worth $6,909,000 at the end of the most recent reporting period.
→ The Next Big Crisis Is Here (From Porter & Company)
A number of other hedge funds have also recently added to or reduced their stakes in GLOB. Urban Wealth Management LLC bought a new position in shares of Globant in the 2nd quarter valued at $29,000. First Horizon Advisors Inc. increased its stake in shares of Globant by 852.9% in the 2nd quarter. First Horizon Advisors Inc. now owns 324 shares of the information technology services provider’s stock valued at $55,000 after purchasing an additional 290 shares during the last quarter. Van ECK Associates Corp increased its stake in shares of Globant by 1,729.4% in the 3rd quarter. Van ECK Associates Corp now owns 311 shares of the information technology services provider’s stock valued at $58,000 after purchasing an additional 294 shares during the last quarter. Castle Wealth Management LLC bought a new position in shares of Globant in the 2nd quarter valued at $71,000. Finally, Advisors Asset Management Inc. bought a new position in shares of Globant in the 1st quarter valued at $72,000. Institutional investors own 93.01% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities analysts have recently issued reports on GLOB shares. Citigroup decreased their price target on Globant from $270.00 to $225.00 and set a “buy” rating on the stock in a research note on Monday, November 21st. JPMorgan Chase & Co. raised their price objective on Globant from $223.00 to $224.00 in a report on Thursday, December 15th. StockNews.com started coverage on Globant in a report on Wednesday, October 12th. They set a “hold” rating on the stock. Cowen cut their price objective on Globant from $210.00 to $207.00 and set an “outperform” rating on the stock in a report on Friday, November 18th. Finally, Cowen cut their price objective on Globant from $210.00 to $207.00 and set an “outperform” rating on the stock in a report on Friday, November 18th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $231.13.
Globant Price Performance
Shares of NYSE:GLOB opened at $163.94 on Monday. The company has a market capitalization of $6.87 billion, a price-to-earnings ratio of 50.44 and a beta of 1.40. The business’s 50-day moving average is $170.68 and its 200-day moving average is $188.46. Globant S.A. has a 1 year low of $151.63 and a 1 year high of $286.63.
Globant (NYSE:GLOB – Get Rating) last issued its earnings results on Thursday, November 17th. The information technology services provider reported $0.98 EPS for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.07). Globant had a net margin of 8.31% and a return on equity of 11.76%. The firm had revenue of $458.88 million during the quarter, compared to the consensus estimate of $457.30 million. Analysts anticipate that Globant S.A. will post 4.08 EPS for the current year.
Globant Company Profile
Globant SA operates as a technology services company worldwide. It offers e-commerce, new distribution capabilities, augmented revenue management, hyper connected operation, and conversational user experience services through reinvention studios; digital lending, commercial effectiveness, finance, sustainability, regulation analytic, transformation and post-merger integration, and payment and open banking services; and game and graphic engineering, UI and UX design, game as a service, DevOps, and online services, as well as high tech tools.
Read More
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Globant, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Globant wasn’t on the list.
While Globant currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
