D.B. Root & Company LLC Sells 629 Shares of Globant S.A. (NYSE:GLOB)

D.B. Root & Company LLC lowered its stake in shares of Globant S.A. (NYSE:GLOB) by 37.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,065 shares of the information technology services provider’s stock after selling 629 shares during the quarter. D.B. Root & Company LLC’s holdings in Globant were worth $211,000 at the end of the most recent quarter.

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

Globant Trading Up 6.9 %

Shares of NYSE GLOB opened at $234.06 on Friday. The business has a 50-day moving average of $205.47 and a 200-day moving average of $189.06. The firm has a market capitalization of $10.09 billion, a price-to-earnings ratio of 61.11, a PEG ratio of 2.60 and a beta of 1.39. Globant S.A. has a 12 month low of $151.68 and a 12 month high of $251.50.

Globant (NYSE:GLOB) last posted its quarterly earnings data on Thursday, August 15th. The information technology services provider reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.50 by $0.01. The company had revenue of $587.46 million during the quarter, compared to the consensus estimate of $586.72 million. Globant had a net margin of 7.39% and a return on equity of 11.68%. The firm’s revenue was up 18.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.04 EPS. On average, analysts predict that Globant S.A. will post 5.06 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts recently commented on GLOB shares. UBS Group reiterated a “neutral” rating and set a $235.00 price target (up from $225.00) on shares of Globant in a report on Tuesday, August 20th. JPMorgan Chase & Co. boosted their target price on shares of Globant from $237.00 to $248.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft started coverage on shares of Globant in a research note on Thursday, August 22nd. They set a “hold” rating and a $210.00 price target for the company. Needham & Company LLC upped their price objective on Globant from $200.00 to $245.00 and gave the company a “buy” rating in a research note on Friday, August 16th. Finally, TD Cowen raised their target price on Globant from $220.00 to $230.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $226.21.

Globant Company 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.