The Wall Street Associates Sells 37,200 Shares of Globant SA (GLOB)

The Wall Street Associates Sells 37,200 Shares of Globant SA (GLOB)

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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