Swedbank AB Sells 12,900 Shares of Globant S.A. (NYSE:GLOB)

Swedbank AB reduced its holdings in Globant S.A. (NYSE:GLOB) by 26.1% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 36,500 shares of the information technology services provider’s stock after selling 12,900 shares during the quarter. Swedbank AB owned 0.08% of Globant worth $7,232,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Quarry LP increased its position in shares of Globant by 529.6% in the second quarter. Quarry LP now owns 170 shares of the information technology services provider’s stock worth $30,000 after purchasing an additional 143 shares during the last quarter. Ridgewood Investments LLC purchased a new stake in Globant during the second quarter valued at about $31,000. BOKF NA lifted its stake in Globant by 15,800.0% during the first quarter. BOKF NA now owns 159 shares of the information technology services provider’s stock worth $32,000 after purchasing an additional 158 shares during the last quarter. ORG Partners LLC boosted its holdings in shares of Globant by 65.5% in the 3rd quarter. ORG Partners LLC now owns 192 shares of the information technology services provider’s stock worth $38,000 after purchasing an additional 76 shares in the last quarter. Finally, American National Bank & Trust increased its position in shares of Globant by 430.2% during the 3rd quarter. American National Bank & Trust now owns 228 shares of the information technology services provider’s stock valued at $45,000 after purchasing an additional 185 shares during the last quarter. Hedge funds and other institutional investors own 91.60% of the company’s stock.

Globant Stock Performance

GLOB opened at $230.93 on Wednesday. The stock’s 50 day moving average price is $212.20 and its 200-day moving average price is $192.98. Globant S.A. has a 52-week low of $151.68 and a 52-week high of $251.50. The stock has a market capitalization of $9.95 billion, a PE ratio of 60.30, a price-to-earnings-growth ratio of 2.80 and a beta of 1.39.

Analysts Set New Price Targets

A number of research firms recently weighed in on GLOB. StockNews.com upgraded Globant from a “sell” rating to a “hold” rating in a research report on Sunday. TD Cowen upped their price objective on shares of Globant from $230.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Piper Sandler decreased their target price on shares of Globant from $240.00 to $237.00 and set an “overweight” rating on the stock in a research report on Friday, November 15th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Globant in a research note on Thursday, August 22nd. They issued a “hold” rating and a $210.00 price target for the company. Finally, Jefferies Financial Group raised their price objective on Globant from $235.00 to $240.00 and gave the company a “buy” rating in a research note on Monday, September 9th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have given a buy rating to the company. According to MarketBeat, Globant currently has a consensus rating of “Moderate Buy” and an average target price of $229.06.

Globant Profile

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