Wall Street Associates reduced its position in Globant SA (NYSE:GLOB) by 49.4% during the fourth quarter, Holdings Channel reports. The fund owned 38,100 shares of the company’s stock after selling 37,200 shares during the period. Wall Street Associates owned about 0.11% of Globant SA worth $1,271,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of GLOB. SG Americas Securities LLC bought a new stake in Globant SA during the third quarter worth approximately $104,000. Tower Research Capital LLC TRC acquired a new stake in shares of Globant SA during the second quarter valued at approximately $108,000. Bamco Inc. NY raised its stake in shares of Globant SA by 100.8% in the third quarter. Bamco Inc. NY now owns 3,786 shares of the company’s stock valued at $159,000 after buying an additional 1,901 shares during the last quarter. KCG Holdings Inc. acquired a new stake in shares of Globant SA during the second quarter valued at approximately $230,000. Finally, State Board of Administration of Florida Retirement System acquired a new stake in shares of Globant SA during the second quarter valued at approximately $236,000. 62.87% of the stock is owned by institutional investors and hedge funds.
Shares of Globant SA (NYSE:GLOB) traded down 0.11% during mid-day trading on Thursday, hitting $34.86. The stock had a trading volume of 276,528 shares. The firm has a market cap of $1.20 billion, a PE ratio of 35.57 and a beta of 0.84. Globant SA has a 52-week low of $22.50 and a 52-week high of $47.19. The stock’s 50-day moving average price is $33.06 and its 200-day moving average price is $39.44.
Globant SA (NYSE:GLOB) last released its quarterly earnings data on Monday, November 14th. The company reported $0.30 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by $0.01. The company earned $82.40 million during the quarter, compared to analysts’ expectations of $81.95 million. Globant SA had a return on equity of 19.58% and a net margin of 11.32%. The firm’s quarterly revenue was up 22.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.26 EPS. On average, analysts anticipate that Globant SA will post $1.14 earnings per share for the current fiscal year.
Several equities research analysts recently commented on the company. Zacks Investment Research lowered Globant SA from a “hold” rating to a “sell” rating in a research report on Tuesday. Pacific Crest upgraded Globant SA from a “sector weight” rating to an “overweight” rating and set a $38.00 target price on the stock in a research report on Thursday, January 12th. TheStreet lowered Globant SA from a “buy” rating to a “hold” rating in a research report on Wednesday, December 21st. Finally, Jefferies Group cut their target price on Globant SA from $40.00 to $39.00 and set a “hold” rating on the stock in a research report on Wednesday, November 16th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $39.71.
Globant SA Company Profile
Globant SA is a digitally native technology services company. The Company’s principal operating subsidiary is based in Buenos Aires, Argentina. During the year ended December 31, 2015, 83.7% of its revenues were generated by clients in North America, 11.0% in Latin America and Asia, and 5.3% in Europe.
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