Globant S.A. (NYSE:GLOB) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lessened its holdings in shares of Globant S.A. (NYSE:GLOB) by 23.9% during the third quarter, HoldingsChannel reports. The fund owned 27,860 shares of the information technology services provider’s stock after selling 8,753 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Globant were worth $5,520,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GLOB. Victory Capital Management Inc. grew its holdings in Globant by 1,817.5% in the third quarter. Victory Capital Management Inc. now owns 1,509,853 shares of the information technology services provider’s stock valued at $299,162,000 after purchasing an additional 1,431,112 shares during the last quarter. Sei Investments Co. lifted its position in shares of Globant by 43.4% in the second quarter. Sei Investments Co. now owns 512,916 shares of the information technology services provider’s stock valued at $91,432,000 after acquiring an additional 155,112 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Globant by 57.5% in the second quarter. Dimensional Fund Advisors LP now owns 442,312 shares of the information technology services provider’s stock valued at $78,851,000 after acquiring an additional 161,512 shares in the last quarter. Clearbridge Investments LLC lifted its position in shares of Globant by 28.4% in the second quarter. Clearbridge Investments LLC now owns 339,790 shares of the information technology services provider’s stock valued at $60,571,000 after acquiring an additional 75,192 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Globant by 89.9% in the second quarter. The Manufacturers Life Insurance Company now owns 266,184 shares of the information technology services provider’s stock valued at $47,450,000 after acquiring an additional 126,030 shares in the last quarter. Institutional investors and hedge funds own 91.60% of the company’s stock.

Globant Stock Performance

GLOB stock opened at $219.68 on Friday. Globant S.A. has a 1 year low of $151.68 and a 1 year high of $251.50. The firm has a market cap of $9.47 billion, a P/E ratio of 57.36, a price-to-earnings-growth ratio of 2.83 and a beta of 1.37. The stock has a 50-day simple moving average of $218.91 and a 200-day simple moving average of $196.91.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Scotiabank upped their price objective on Globant from $210.00 to $220.00 and gave the company a “sector perform” rating in a research report on Tuesday, November 19th. JPMorgan Chase & Co. increased their target price on Globant from $237.00 to $248.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. TD Cowen increased their target price on Globant from $230.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Needham & Company LLC increased their target price on Globant from $245.00 to $265.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Finally, StockNews.com upgraded Globant from a “sell” rating to a “hold” rating in a research report on Sunday, November 24th. One research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $229.00.

Globant Company 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.