William Blair Investment Management LLC Sells 243,312 Shares of Globant S.A. (NYSE:GLOB)

William Blair Investment Management LLC decreased its position in shares of Globant S.A. (NYSE:GLOB) by 47.2% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 272,006 shares of the information technology services provider’s stock after selling 243,312 shares during the quarter. William Blair Investment Management LLC owned about 0.63% of Globant worth $48,488,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in GLOB. Private Advisor Group LLC bought a new position in Globant during the 4th quarter worth approximately $306,000. Charles Schwab Investment Management Inc. raised its holdings in Globant by 6.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 41,970 shares of the information technology services provider’s stock worth $9,988,000 after purchasing an additional 2,470 shares during the last quarter. Principal Securities Inc. bought a new position in Globant during the 4th quarter worth approximately $56,000. Dimensional Fund Advisors LP increased its stake in shares of Globant by 2.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 273,687 shares of the information technology services provider’s stock valued at $65,135,000 after acquiring an additional 7,226 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its stake in shares of Globant by 5.9% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 1,800 shares of the information technology services provider’s stock valued at $428,000 after acquiring an additional 100 shares in the last quarter. Institutional investors own 91.60% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on GLOB. Scotiabank lifted their price objective on shares of Globant from $200.00 to $210.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 21st. Deutsche Bank Aktiengesellschaft began coverage on shares of Globant in a research note on Thursday, August 22nd. They issued a “hold” rating and a $210.00 price objective for the company. TD Cowen lifted their price objective on shares of Globant from $220.00 to $230.00 and gave the company a “buy” rating in a research note on Friday, August 16th. Needham & Company LLC lifted their price objective on shares of Globant from $200.00 to $245.00 and gave the company a “buy” rating in a research note on Friday, August 16th. Finally, Canaccord Genuity Group lifted their price objective on shares of Globant from $175.00 to $205.00 and gave the company a “hold” rating in a research note on Wednesday, August 21st. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, Globant presently has a consensus rating of “Moderate Buy” and a consensus target price of $222.90.

Globant Stock Performance

Shares of Globant stock opened at $197.00 on Friday. Globant S.A. has a 52-week low of $151.68 and a 52-week high of $251.50. The stock’s 50-day simple moving average is $194.49 and its 200 day simple moving average is $187.92. The stock has a market capitalization of $8.49 billion, a P/E ratio of 51.71, a P/E/G ratio of 2.49 and a beta of 1.40.

Globant (NYSE:GLOB) last announced its quarterly earnings data on Thursday, August 15th. The information technology services provider reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.01. Globant had a return on equity of 11.68% and a net margin of 7.39%. 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 business posted $1.04 EPS. The firm’s quarterly revenue was up 18.1% compared to the same quarter last year. Equities research analysts forecast that Globant S.A. will post 5.01 EPS for the current fiscal year.

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.