BNP Paribas Financial Markets Reduces Stock Position in Globant S.A. (NYSE:GLOB)

BNP Paribas Financial Markets lowered its stake in Globant S.A. (NYSE:GLOB) by 12.8% during the 3rd quarter, HoldingsChannel reports. The firm owned 5,192 shares of the information technology services provider’s stock after selling 764 shares during the period. BNP Paribas Financial Markets’ holdings in Globant were worth $1,029,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GLOB. Quarry LP boosted its stake in shares of Globant by 529.6% during the 2nd quarter. Quarry LP now owns 170 shares of the information technology services provider’s stock worth $30,000 after acquiring an additional 143 shares during the last quarter. Ridgewood Investments LLC purchased a new position in shares of Globant during the 2nd quarter worth $31,000. ORG Partners LLC boosted its stake in shares of Globant by 65.5% during the 3rd quarter. ORG Partners LLC now owns 192 shares of the information technology services provider’s stock worth $38,000 after acquiring an additional 76 shares during the last quarter. American National Bank & Trust boosted its stake 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 worth $45,000 after acquiring an additional 185 shares during the last quarter. Finally, Signaturefd LLC boosted its stake in shares of Globant by 46.0% during the 3rd quarter. Signaturefd LLC now owns 292 shares of the information technology services provider’s stock worth $58,000 after acquiring an additional 92 shares during the last quarter. Hedge funds and other institutional investors own 91.60% of the company’s stock.

Globant Stock Performance

Shares of NYSE GLOB opened at $221.91 on Wednesday. The company has a market cap of $9.56 billion, a P/E ratio of 57.93, a P/E/G ratio of 2.83 and a beta of 1.37. The firm’s fifty day moving average is $218.00 and its two-hundred day moving average is $196.35. Globant S.A. has a 52-week low of $151.68 and a 52-week high of $251.50.

Analyst Ratings Changes

Several brokerages have recently weighed in on GLOB. Canaccord Genuity Group reiterated a “hold” rating and set a $205.00 price target on shares of Globant in a research note on Monday, November 18th. Piper Sandler decreased their price objective 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. KeyCorp raised their price objective on shares of Globant from $220.00 to $235.00 and gave the company an “overweight” rating in a research report on Friday, August 16th. Needham & Company LLC raised their price objective on shares of Globant from $245.00 to $265.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Globant in a research report on Thursday, August 22nd. They set a “hold” rating and a $210.00 price objective on the stock. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average 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.