Axa SA sells 5,637 shares of Globant SA (NYSE:GLOB)

Axa SA lowered its position in Globant SA (NYSE:GLOB – Free Report) by 6.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 84,606 shares of the information technology services provider’s stock after selling 5,637 shares during the quarter. Axa SA owned 0.20% of Globant worth $15,082,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have added to or reduced their stakes in GLOB. Accent Capital Management LLC purchased a new position in shares of Globant in the 4th quarter valued at about $29,000. Ridgewood Investments LLC purchased a new stake in Globant in the second quarter valued at about $31,000. BOKF NA grew its position in Globant by 15,800.0% in the first quarter. BOKF NA now owns 159 shares of the information technology services provider’s stock valued at $32,000 after acquiring an additional 158 shares in the last quarter. RiverPark Advisors LLC purchased a new position in shares of Globant in the first quarter worth about $54,000. Finally, GAMMA Investing LLC boosted its holdings in shares of Globant by 82.0% in the second quarter. GAMMA Investing LLC now owns 506 shares of the information technology services provider’s stock worth $90,000 after acquiring an additional 228 shares during the last quarter. Hedge funds and other institutional investors own 91.60% of the company’s shares.

Global Trading falls by 0.3%

Shares of Globant stock opened at $197.42 on Friday. Globant SA has a 12-month low of $151.68 and a 12-month high of $251.50. The firm has a market cap of $8.51 billion, a P/E ratio of 51.82, a P/E/G ratio of 2.38 and a beta of 1.40. The company has a fifty day simple moving average of $195.15 and a two hundred day simple moving average of $186.67.

Globant (NYSE:GLOB – Get Your Free Report ) last posted its quarterly earnings results 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 analysts’ expectations of $586.72 million. Globant had a net margin of 7.39% and a return on equity of 11.68%. Globant’s revenue increased by 18.1% year-on-year. During the same period last year, the company posted EPS of $1.04. analysts predict that Globant SA will post 5.02 earnings per share for the current year.

Changes in Analyst Ratings

A number of equities analysts recently commented on the stock. KeyCorp raised their target price on shares of Globant from $220.00 to $235.00 and gave the stock an “overweight” rating in a research report on Friday, August 16th. Jefferies Financial Group boosted their price target on Globant from $235.00 to $240.00 and gave the company a “buy” rating in a research note on Monday, September 9th. Scotiabank raised their target price on Globant from $200.00 to $210.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 21st. Piper Sandler reiterated an “overweight” rating and issued a $240.00 price objective (up previously from $238.00) on shares of Globant in a research report on Friday, August 16th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Globant in a research note on Thursday, August 22nd. They issued a “hold” rating and a $210.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Moderate Buy” and an average price target of $222.90, according to MarketBeat .

Check out our latest report on Globant

Globant Company Profile

(Free Report)

Globant SA, together with its subsidiaries, provides technology services worldwide. It offers digital solutions spanning 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.

Further reading

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