Nordea Investment Management AB Sells 6,685 Shares of Globant SA (NYSE:GLOB)

Nordea Investment Management AB decreased its position in shares of Globant SA (NYSE:GLOB) by 31.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,382 shares of the information technology services provider’s stock after selling 6,685 shares during the period. Nordea Investment Management AB’s holdings in Globant were worth $1,027,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bollard Group LLC acquired a new stake in shares of Globant in the first quarter valued at approximately $29,000. Claybrook Capital LLC acquired a new stake in shares of Globant in the fourth quarter valued at approximately $26,000. Icon Wealth Partners LLC acquired a new stake in shares of Globant in the first quarter valued at approximately $42,000. Cutler Group LP acquired a new stake in shares of Globant in the first quarter valued at approximately $128,000. Finally, Quantamental Technologies LLC acquired a new stake in Globant during the 1st quarter worth $150,000. 79.06% of the stock is owned by institutional investors.

Shares of Globant stock traded down $1.47 during trading on Friday, hitting $104.60. 202,555 shares of the stock were exchanged, compared to its average volume of 305,667. Globant SA has a 1-year low of $46.30 and a 1-year high of $109.78. The firm has a market cap of $3.81 billion, a PE ratio of 75.25 and a beta of 0.84. The stock has a fifty day moving average of $101.04. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.69 and a quick ratio of 2.29.

Globant (NYSE:GLOB) last announced its quarterly earnings results on Thursday, May 9th. The information technology services provider reported $0.38 EPS for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.02. The business had revenue of $146.15 million for the quarter, compared to analyst estimates of $145.23 million. Globant had a net margin of 9.77% and a return on equity of 16.35%. Globant’s quarterly revenue was up 22.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.38 EPS. Equities research analysts expect that Globant SA will post 1.72 earnings per share for the current fiscal year.

A number of analysts have commented on the stock. Itau BBA Securities raised shares of Globant from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $74.00 to $113.00 in a report on Friday, June 21st. Morgan Stanley set a $165.00 price target on shares of Caterpillar and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Citigroup cut shares of Lear from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $188.00 to $144.00 in a research report on Wednesday. Zacks Investment Research cut shares of HEXO from a “hold” rating to a “sell” rating in a research report on Wednesday, May 15th. Finally, Wedbush reaffirmed an “outperform” rating on shares of Purple Innovation in a research report on Wednesday, May 8th. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $84.78.

About Globant

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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