Gilder Gagnon Howe & Co. LLC Reduces Holdings in Globant SA (NYSE:GLOB)

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Gilder Gagnon Howe & Co. LLC decreased its holdings in Globant SA (NYSE:GLOB) by 12.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 633,241 shares of the information technology services provider’s stock after selling 92,755 shares during the quarter. Gilder Gagnon Howe & Co. LLC owned 1.71% of Globant worth $94,891,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Wasatch Advisors Inc. boosted its position in Globant by 6.1% during the first quarter. Wasatch Advisors Inc. now owns 2,535,995 shares of the information technology services provider’s stock worth $222,863,000 after purchasing an additional 146,107 shares in the last quarter. FMR LLC boosted its holdings in Globant by 37.2% during the second quarter. FMR LLC now owns 1,859,215 shares of the information technology services provider’s stock valued at $278,603,000 after purchasing an additional 504,506 shares in the last quarter. BlackRock Inc. boosted its holdings in Globant by 29.3% during the first quarter. BlackRock Inc. now owns 1,844,513 shares of the information technology services provider’s stock valued at $162,097,000 after purchasing an additional 417,941 shares in the last quarter. Riverbridge Partners LLC boosted its holdings in Globant by 0.6% during the second quarter. Riverbridge Partners LLC now owns 1,412,406 shares of the information technology services provider’s stock valued at $211,649,000 after purchasing an additional 8,131 shares in the last quarter. Finally, William Blair Investment Management LLC boosted its holdings in Globant by 15.4% during the second quarter. William Blair Investment Management LLC now owns 1,269,282 shares of the information technology services provider’s stock valued at $190,202,000 after purchasing an additional 169,297 shares in the last quarter. 91.78% of the stock is currently owned by institutional investors.

Several research analysts have recently commented on the company. Goldman Sachs Group boosted their target price on Globant from $147.00 to $167.00 and gave the stock a “buy” rating in a report on Friday, July 3rd. They noted that the move was a valuation call. Piper Sandler boosted their price objective on shares of Globant from $181.00 to $193.00 and gave the stock an “overweight” rating in a research report on Friday, August 14th. Itau BBA Securities cut shares of Globant from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 12th. Cowen boosted their price objective on shares of Globant from $128.00 to $165.00 and gave the stock an “outperform” rating in a research report on Friday, July 17th. Finally, Citigroup boosted their price objective on shares of Globant from $121.00 to $162.00 and gave the stock a “neutral” rating in a research report on Friday, July 17th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $145.50.

Shares of GLOB traded down $1.66 during trading hours on Friday, reaching $170.00. The stock had a trading volume of 449,590 shares, compared to its average volume of 253,131. The company has a quick ratio of 2.56, a current ratio of 4.66 and a debt-to-equity ratio of 0.16. Globant SA has a 52 week low of $70.83 and a 52 week high of $189.34. The firm has a 50-day moving average of $173.29 and a 200 day moving average of $133.95. The company has a market cap of $6.31 billion, a P/E ratio of 125.00 and a beta of 1.28.

Globant (NYSE:GLOB) last announced its earnings results on Thursday, August 13th. The information technology services provider reported $0.51 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.17. The firm had revenue of $182.71 million during the quarter, compared to analyst estimates of $179.60 million. Globant had a net margin of 7.09% and a return on equity of 13.17%. As a group, equities analysts expect that Globant SA will post 1.75 earnings per share for the current year.

Globant Profile

Globant SA, a technology services company, provides services related to application development, testing, infrastructure management, and application maintenance worldwide. The company offers machine learning, pattern recognition, natural language understanding, future of organizations, customer insight, behavioral change, product innovation, design thinking, product management discovery and delivery, and product coaching services.

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Institutional Ownership by Quarter for Globant (NYSE:GLOB)

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