Fmr LLC Sells 71,290 Shares of Globant S.A. (NYSE:GLOB)

FMR LLC trimmed its stake in shares of Globant S.A. (NYSE:GLOB - Free Report) by 13.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 471,777 shares of the information technology services provider's stock after selling 71,290 shares during the quarter. FMR LLC owned approximately 1.09% of Globant worth $93,478,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Quarry LP increased its holdings in shares of Globant by 529.6% during the second quarter. Quarry LP now owns 170 shares of the information technology services provider's stock valued at $30,000 after acquiring an additional 143 shares in the last quarter. Ridgewood Investments LLC bought a new stake in shares of Globant during the 2nd quarter worth $31,000. ORG Partners LLC boosted its stake in Globant by 65.5% in the third quarter. ORG Partners LLC now owns 192 shares of the information technology services provider's stock valued at $38,000 after acquiring an additional 76 shares during the last quarter. American National Bank & Trust increased its position in Globant by 430.2% in the third quarter. American National Bank & Trust now owns 228 shares of the information technology services provider's stock worth $45,000 after buying an additional 185 shares during the last quarter. Finally, Signaturefd LLC increased its holdings in Globant by 46.0% in 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. 91.60% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on GLOB. Needham & Company LLC upped their price target on Globant from $245.00 to $265.00 and gave the company a "buy" rating in a research report on Friday, November 15th. JPMorgan Chase & Co. increased their price objective on Globant from $237.00 to $248.00 and gave the company an "overweight" rating in a research report on Wednesday, October 30th. Jefferies Financial Group increased 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. Canaccord Genuity Group reissued a "hold" rating and issued a $205.00 price target on shares of Globant in a research note on Monday, November 18th. Finally, Piper Sandler reduced their price objective on Globant from $240.00 to $237.00 and set an "overweight" rating on the stock in a research note on Friday, November 15th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $229.06.

Globant Price Performance

Shares of GLOB traded up $7.72 during trading hours on Friday, hitting $229.85. The stock had a trading volume of 382,827 shares, compared to its average volume of 480,378. The firm has a market capitalization of $9.90 billion, a PE ratio of 58.00, a PEG ratio of 2.74 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. The stock has a fifty day moving average price of $216.76 and a 200 day moving average price of $195.22.

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.