Globant S.A. (NYSE:GLOB) Shares Sold by Mount Yale Investment Advisors LLC

Mount Yale Investment Advisors LLC lessened its position in shares of Globant S.A. (NYSE:GLOB) by 3.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,680 shares of the information technology services provider’s stock after selling 109 shares during the period. Mount Yale Investment Advisors LLC’s holdings in Globant were worth $531,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Wasatch Advisors LP lifted its stake in Globant by 6.8% during the first quarter. Wasatch Advisors LP now owns 3,336,764 shares of the information technology services provider’s stock worth $673,693,000 after purchasing an additional 213,049 shares during the last quarter. Manning & Napier Advisors LLC bought a new position in shares of Globant in the 2nd quarter worth about $99,396,000. Sei Investments Co. boosted its holdings in shares of Globant by 43.4% in the 2nd quarter. Sei Investments Co. now owns 512,916 shares of the information technology services provider’s stock valued at $91,432,000 after buying an additional 155,112 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Globant by 57.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 442,312 shares of the information technology services provider’s stock valued at $78,851,000 after buying an additional 161,512 shares during the last quarter. Finally, Clearbridge Investments LLC raised its stake in Globant by 28.4% during the second quarter. Clearbridge Investments LLC now owns 339,790 shares of the information technology services provider’s stock worth $60,571,000 after acquiring an additional 75,192 shares during the period. Institutional investors and hedge funds own 91.60% of the company’s stock.

Globant Trading Down 0.5 %

Shares of NYSE GLOB opened at $218.04 on Friday. Globant S.A. has a twelve month low of $151.68 and a twelve month high of $251.50. The firm has a 50-day moving average of $202.75 and a two-hundred day moving average of $187.37. The company has a market capitalization of $9.40 billion, a price-to-earnings ratio of 56.93, a PEG ratio of 2.70 and a beta of 1.39.

Globant (NYSE:GLOB) last released its earnings results on Thursday, August 15th. The information technology services provider reported $1.51 EPS for the quarter, beating the consensus estimate of $1.50 by $0.01. The business had revenue of $587.46 million during the quarter, compared to analyst estimates of $586.72 million. Globant had a net margin of 7.39% and a return on equity of 11.68%. The business’s quarterly revenue was up 18.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.04 earnings per share. As a group, research analysts predict that Globant S.A. will post 5.02 earnings per share for the current year.

Analyst Ratings Changes

GLOB has been the subject of a number of research reports. Jefferies Financial Group lifted their target price on Globant from $235.00 to $240.00 and gave the company a “buy” rating in a research note on Monday, September 9th. JPMorgan Chase & Co. upped their price objective on Globant from $226.00 to $237.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. Piper Sandler reiterated an “overweight” rating and issued a $240.00 target price (up from $238.00) on shares of Globant in a research note on Friday, August 16th. StockNews.com upgraded shares of Globant from a “sell” rating to a “hold” rating in a research report on Wednesday. Finally, KeyCorp lifted their price objective on shares of Globant from $220.00 to $235.00 and gave the company an “overweight” rating in a research report on Friday, August 16th. One analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.