Globant S.A. (NYSE:GLOB) Shares Sold by State Street Corp

State Street Corp lessened its stake in Globant S.A. (NYSE:GLOB) by 12.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 442,523 shares of the information technology services provider’s stock after selling 65,195 shares during the period. State Street Corp’s holdings in Globant were worth $87,682,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the stock. Stifel Financial Corp boosted its stake in Globant by 0.7% in the third quarter. Stifel Financial Corp now owns 42,529 shares of the information technology services provider’s stock valued at $8,427,000 after acquiring an additional 282 shares in the last quarter. Quantinno Capital Management LP boosted its stake in Globant by 14.0% in the third quarter. Quantinno Capital Management LP now owns 1,502 shares of the information technology services provider’s stock valued at $298,000 after acquiring an additional 185 shares in the last quarter. IHT Wealth Management LLC boosted its stake in Globant by 66.4% in the third quarter. IHT Wealth Management LLC now owns 5,360 shares of the information technology services provider’s stock valued at $1,059,000 after acquiring an additional 2,138 shares in the last quarter. Janus Henderson Group PLC boosted its stake in Globant by 27.5% in the third quarter. Janus Henderson Group PLC now owns 40,586 shares of the information technology services provider’s stock valued at $8,039,000 after acquiring an additional 8,743 shares in the last quarter. Finally, Centiva Capital LP acquired a new position in Globant in the third quarter valued at $885,000. Institutional investors and hedge funds own 91.60% of the company’s stock.

Globant Stock Up 1.0 %

NYSE GLOB opened at $218.93 on Tuesday. 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 $9.43 billion, a P/E ratio of 57.16, a P/E/G ratio of 2.72 and a beta of 1.37. The firm has a 50-day moving average price of $220.34 and a 200 day moving average price of $198.28.

Wall Street Analyst Weigh In

Several research firms have issued reports on GLOB. JPMorgan Chase & Co. upped their price objective on shares of Globant from $237.00 to $248.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Canaccord Genuity Group reaffirmed a “hold” rating and issued a $205.00 target price on shares of Globant in a report on Monday, November 18th. Jefferies Financial Group upped their target price on shares of Globant from $235.00 to $240.00 and gave the company a “buy” rating in a report on Monday, September 9th. TD Cowen upped their target price on shares of Globant from $230.00 to $240.00 and gave the company a “buy” rating in a report on Friday, November 15th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Globant in a report on Thursday, August 22nd. They issued a “hold” rating and a $210.00 target price for the company. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.