Geode Capital Management LLC Sells 4,107 Shares of Globant S.A. (NYSE:GLOB)

Geode Capital Management LLC cut its position in Globant S.A. (NYSE:GLOB) by 1.8% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 228,855 shares of the information technology services provider’s stock after selling 4,107 shares during the period. Geode Capital Management LLC’s holdings in Globant were worth $45,345,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in GLOB. Victory Capital Management Inc. lifted its stake 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 acquiring an additional 1,431,112 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Globant by 57.5% during the second quarter. Dimensional Fund Advisors LP now owns 442,312 shares of the information technology services provider’s stock worth $78,851,000 after purchasing an additional 161,512 shares during the period. Sei Investments Co. grew its holdings in Globant by 43.4% during the second quarter. Sei Investments Co. now owns 512,916 shares of the information technology services provider’s stock worth $91,432,000 after purchasing an additional 155,112 shares during the period. The Manufacturers Life Insurance Company increased its position in Globant by 89.9% during the second quarter. The Manufacturers Life Insurance Company now owns 266,184 shares of the information technology services provider’s stock worth $47,450,000 after buying an additional 126,030 shares during the last quarter. Finally, Millennium Management LLC raised its stake in Globant by 84.8% in the second quarter. Millennium Management LLC now owns 261,270 shares of the information technology services provider’s stock valued at $46,574,000 after buying an additional 119,860 shares during the period. 91.60% of the stock is currently owned by institutional investors and hedge funds.

Globant Stock Down 0.9 %

GLOB opened at $219.54 on Tuesday. Globant S.A. has a twelve month low of $151.68 and a twelve month high of $251.50. The stock has a market capitalization of $9.46 billion, a price-to-earnings ratio of 57.32, a P/E/G ratio of 2.72 and a beta of 1.37. The company has a 50-day simple moving average of $221.29 and a 200 day simple moving average of $200.15.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on GLOB shares. Needham & Company LLC boosted their target price on Globant from $245.00 to $265.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Susquehanna initiated coverage on shares of Globant in a research report on Tuesday, December 17th. They issued a “positive” rating and a $255.00 price objective on the stock. Scotiabank raised their target price on shares of Globant from $210.00 to $220.00 and gave the stock a “sector perform” rating in a research note on Tuesday, November 19th. JPMorgan Chase & Co. upped their price target 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. Finally, Jefferies Financial Group raised their price objective on shares of Globant from $235.00 to $240.00 and gave the stock a “buy” rating in a research report on Monday, September 9th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Globant has an average rating of “Moderate Buy” and a consensus target price of $230.44.

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.