Charles Schwab Investment Management Inc. lessened its stake in Globant S.A. (NYSE:GLOB - Free Report) by 23.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 27,860 shares of the information technology services provider's stock after selling 8,753 shares during the period. Charles Schwab Investment Management Inc. owned about 0.06% of Globant worth $5,520,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Quarry LP raised its holdings in shares of Globant by 529.6% in the 2nd quarter. Quarry LP now owns 170 shares of the information technology services provider's stock worth $30,000 after buying an additional 143 shares in the last quarter. Ridgewood Investments LLC acquired a new position in Globant during the second quarter worth $31,000. ORG Partners LLC lifted its holdings in shares of Globant by 65.5% during 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 period. American National Bank & Trust boosted its stake in shares of Globant by 430.2% in the 3rd quarter. American National Bank & Trust now owns 228 shares of the information technology services provider's stock valued at $45,000 after purchasing an additional 185 shares in the last quarter. Finally, Signaturefd LLC grew its holdings in shares of 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 purchasing an additional 92 shares during the last quarter. 91.60% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of equities analysts have commented on the stock. 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. Citigroup boosted their price objective on Globant from $240.00 to $251.00 and gave the stock a "buy" rating in a research note on Monday, October 28th. Needham & Company LLC raised their target price on Globant from $245.00 to $265.00 and gave the company a "buy" rating in a research note on Friday, November 15th. Jefferies Financial Group increased their price objective on shares of Globant from $235.00 to $240.00 and gave the stock a "buy" rating in a report on Monday, September 9th. Finally, StockNews.com upgraded 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 assigned a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $229.00.
Check Out Our Latest Stock Report on GLOB
Globant Trading Down 2.0 %
Shares of NYSE:GLOB traded down $4.45 during trading on Friday, hitting $215.25. 136,762 shares of the company's stock traded hands, compared to its average volume of 478,391. The company has a 50-day moving average price of $219.37 and a 200-day moving average price of $197.07. Globant S.A. has a 52 week low of $151.68 and a 52 week high of $251.50. The company has a market cap of $9.28 billion, a price-to-earnings ratio of 56.38, a price-to-earnings-growth ratio of 2.72 and a beta of 1.37.
Globant Company Profile
(
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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