HighTower Advisors LLC Cuts Stock Position in Globant S.A. (NYSE:GLOB)

HighTower Advisors LLC trimmed its position in shares of Globant S.A. (NYSE:GLOB) by 11.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,724 shares of the information technology services provider’s stock after selling 747 shares during the period. HighTower Advisors LLC’s holdings in Globant were worth $1,144,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Creative Planning increased its position in shares of Globant by 20.5% in the third quarter. Creative Planning now owns 2,062 shares of the information technology services provider’s stock valued at $409,000 after acquiring an additional 351 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Globant during the third quarter valued at approximately $11,145,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Globant by 18.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 53,816 shares of the information technology services provider’s stock valued at $10,663,000 after acquiring an additional 8,427 shares in the last quarter. Brown Brothers Harriman & Co. lifted its position in shares of Globant by 97.4% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 154,538 shares of the information technology services provider’s stock worth $27,548,000 after purchasing an additional 76,256 shares during the period. Finally, Marshall Wace LLP purchased a new position in shares of Globant during the second quarter valued at about $1,319,000. Hedge funds and other institutional investors own 91.60% of the company’s stock.

Globant Trading Up 1.0 %

Globant stock opened at $218.93 on Tuesday. The stock has a market cap of $9.43 billion, a P/E ratio of 57.16, a price-to-earnings-growth ratio of 2.72 and a beta of 1.37. Globant S.A. has a 52 week low of $151.68 and a 52 week high of $251.50. The stock has a 50 day moving average of $220.34 and a 200-day moving average of $198.28.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. StockNews.com raised Globant from a “sell” rating to a “hold” rating in a research report on Sunday, November 24th. UBS Group reiterated a “neutral” rating and set a $235.00 target price (up from $225.00) on shares of Globant in a research note on Tuesday, August 20th. JPMorgan Chase & Co. lifted their price target on shares of Globant from $237.00 to $248.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Canaccord Genuity Group reaffirmed a “hold” rating and issued a $205.00 price objective on shares of Globant in a report on Monday, November 18th. Finally, Piper Sandler decreased their price target 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. One analyst has rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $229.00.

About Globant

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.