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Icon Wealth Advisors LLC Boosts Stock Position in Globant S.A. (NYSE:GLOB)

Globant logo with Computer and Technology background

Icon Wealth Advisors LLC boosted its position in Globant S.A. (NYSE:GLOB - Free Report) by 795.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,613 shares of the information technology services provider's stock after buying an additional 25,417 shares during the period. Icon Wealth Advisors LLC owned approximately 0.07% of Globant worth $5,669,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Victory Capital Management Inc. raised its holdings in shares of Globant by 1,817.5% in the 3rd quarter. Victory Capital Management Inc. now owns 1,509,853 shares of the information technology services provider's stock worth $299,162,000 after acquiring an additional 1,431,112 shares during the last quarter. Manning & Napier Advisors LLC bought a new stake in Globant during the second quarter worth $99,396,000. Sei Investments Co. raised its position in Globant by 43.4% in the 2nd quarter. Sei Investments Co. now owns 512,916 shares of the information technology services provider's stock valued at $91,432,000 after buying an additional 155,112 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Globant by 57.5% in 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 buying an additional 161,512 shares during the last quarter. Finally, Clearbridge Investments LLC lifted its holdings in Globant by 28.4% during the second quarter. Clearbridge Investments LLC now owns 339,790 shares of the information technology services provider's stock worth $60,571,000 after acquiring an additional 75,192 shares during the period. 91.60% of the stock is owned by institutional investors and hedge funds.

Globant Trading Up 2.9 %

Shares of NYSE:GLOB traded up $6.56 during trading on Friday, reaching $229.25. 392,395 shares of the company traded hands, compared to its average volume of 522,138. Globant S.A. has a 52-week low of $151.68 and a 52-week high of $251.50. The business's fifty day moving average is $210.75 and its 200-day moving average is $192.17. The firm has a market capitalization of $9.88 billion, a price-to-earnings ratio of 59.86, a P/E/G ratio of 2.72 and a beta of 1.39.

Analysts Set New Price Targets

A number of research firms recently commented on GLOB. JPMorgan Chase & Co. lifted their price target on shares of Globant from $237.00 to $248.00 and gave the stock an "overweight" rating in a report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Globant in a research report on Thursday, August 22nd. They issued a "hold" rating and a $210.00 price target on the stock. Citigroup raised their price objective on shares of Globant from $240.00 to $251.00 and gave the stock a "buy" rating in a report on Monday, October 28th. 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, Canaccord Genuity Group reiterated a "hold" rating and issued a $205.00 price target on shares of Globant in a research report on Monday, November 18th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $229.06.

Read Our Latest Stock Report on GLOB

About Globant

(Free Report)

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.

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Institutional Ownership by Quarter for Globant (NYSE:GLOB)

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