Geode Capital Management LLC Lowers Position in Globant S.A. (NYSE:GLOB)

Geode Capital Management LLC lessened its holdings in shares of Globant S.A. (NYSE:GLOB - Free Report) by 1.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 228,855 shares of the information technology services provider's stock after selling 4,107 shares during the quarter. Geode Capital Management LLC owned 0.53% of Globant worth $45,345,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Victory Capital Management Inc. grew its holdings in shares of Globant by 1,817.5% during 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 buying an additional 1,431,112 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Globant by 57.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 442,312 shares of the information technology services provider's stock valued at $78,851,000 after purchasing an additional 161,512 shares during the last quarter. Sei Investments Co. increased its holdings in Globant by 43.4% during the 2nd 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 in the last quarter. The Manufacturers Life Insurance Company raised its stake 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 worth $47,450,000 after purchasing an additional 126,030 shares during the last quarter. Finally, Millennium Management LLC boosted its position in shares of Globant by 84.8% during 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 last quarter. Institutional investors and hedge funds own 91.60% of the company's stock.

Globant Stock Down 0.0 %

GLOB traded down $0.08 during trading on Tuesday, reaching $219.46. 101,778 shares of the company were exchanged, compared to its average volume of 479,540. Globant S.A. has a 12-month low of $151.68 and a 12-month high of $251.50. The company's 50-day moving average is $221.45 and its two-hundred day moving average is $200.60. The company has a market cap of $9.46 billion, a price-to-earnings ratio of 57.30, a P/E/G ratio of 2.72 and a beta of 1.37.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Canaccord Genuity Group reiterated a "hold" rating and issued a $205.00 target price on shares of Globant in a research note on Monday, November 18th. Needham & Company LLC increased their price objective on shares of Globant from $245.00 to $265.00 and gave the company a "buy" rating in a research note on Friday, November 15th. Piper Sandler cut their target price on Globant from $240.00 to $237.00 and set an "overweight" rating on the stock in a research note on Friday, November 15th. TD Cowen increased their price target on Globant from $230.00 to $240.00 and gave the company a "buy" rating in a research report on Friday, November 15th. Finally, StockNews.com raised Globant from a "sell" rating to a "hold" rating in a research report on Sunday, November 24th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target 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.