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

State Street Corp reduced its stake in shares of Globant S.A. (NYSE:GLOB) by 12.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 442,523 shares of the information technology services provider’s stock after selling 65,195 shares during the period. State Street Corp owned 1.03% of Globant worth $87,682,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Stifel Financial Corp raised its position in shares of Globant by 0.7% during the 3rd quarter. Stifel Financial Corp now owns 42,529 shares of the information technology services provider’s stock valued at $8,427,000 after buying an additional 282 shares during the period. Quantinno Capital Management LP raised its position in shares of Globant by 14.0% during the 3rd quarter. Quantinno Capital Management LP now owns 1,502 shares of the information technology services provider’s stock valued at $298,000 after buying an additional 185 shares during the period. IHT Wealth Management LLC raised its position in shares of Globant by 66.4% during the 3rd quarter. IHT Wealth Management LLC now owns 5,360 shares of the information technology services provider’s stock valued at $1,059,000 after buying an additional 2,138 shares during the period. Janus Henderson Group PLC raised its position in shares of Globant by 27.5% during the 3rd quarter. Janus Henderson Group PLC now owns 40,586 shares of the information technology services provider’s stock valued at $8,039,000 after buying an additional 8,743 shares during the period. Finally, Centiva Capital LP purchased a new stake in shares of Globant during the 3rd quarter valued at approximately $885,000. 91.60% of the stock is currently owned by institutional investors and hedge funds.

Globant Trading Up 1.0 %

Shares of GLOB stock opened at $218.93 on Tuesday. The firm has a fifty day moving average price of $220.34 and a 200 day moving average price of $198.28. The company has a market cap of $9.43 billion, a P/E ratio of 57.16, a PEG ratio of 2.72 and a beta of 1.37. Globant S.A. has a 12 month low of $151.68 and a 12 month high of $251.50.

Analyst Ratings Changes

Several analysts have recently commented on GLOB shares. Piper Sandler reduced 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. Needham & Company LLC boosted their target price on Globant from $245.00 to $265.00 and gave the company a “buy” rating in a research report on Friday, November 15th. TD Cowen boosted their target price on Globant from $230.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Deutsche Bank Aktiengesellschaft assumed coverage on Globant in a research report on Thursday, August 22nd. They issued a “hold” rating and a $210.00 target price on the stock. Finally, Citigroup boosted their target price on Globant from $240.00 to $251.00 and gave the company a “buy” rating in a research report on Monday, October 28th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $229.00.

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.