Holocene Advisors LP Trims Position in Globant S.A. (NYSE:GLOB)

Holocene Advisors LP decreased its position in Globant S.A. (NYSE:GLOB - Free Report) by 64.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,000 shares of the information technology services provider's stock after selling 16,136 shares during the quarter. Holocene Advisors LP's holdings in Globant were worth $1,783,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Equitable Trust Co. lifted its stake in Globant by 1.1% in the third quarter. Equitable Trust Co. now owns 4,550 shares of the information technology services provider's stock worth $902,000 after acquiring an additional 50 shares during the period. 17 Capital Partners LLC lifted its position in shares of Globant by 1.6% in the 2nd quarter. 17 Capital Partners LLC now owns 3,455 shares of the information technology services provider's stock worth $616,000 after purchasing an additional 55 shares during the period. ORG Partners LLC boosted its stake in shares of Globant by 65.5% during the 3rd quarter. ORG Partners LLC now owns 192 shares of the information technology services provider's stock valued at $38,000 after purchasing an additional 76 shares in the last quarter. Signaturefd LLC increased its position in shares of Globant by 46.0% during the third quarter. Signaturefd LLC now owns 292 shares of the information technology services provider's stock valued at $58,000 after buying an additional 92 shares during the period. Finally, Parkside Financial Bank & Trust lifted its holdings in Globant by 6.3% in the second quarter. Parkside Financial Bank & Trust now owns 1,977 shares of the information technology services provider's stock worth $352,000 after buying an additional 118 shares during the period. 91.60% of the stock is owned by institutional investors.

Globant Price Performance

NYSE GLOB traded up $7.60 during trading hours on Friday, hitting $229.73. The company's stock had a trading volume of 382,827 shares, compared to its average volume of 507,979. The company has a market cap of $9.90 billion, a P/E ratio of 59.98, a price-to-earnings-growth ratio of 2.78 and a beta of 1.37. The company's 50 day simple moving average is $217.41 and its two-hundred day simple moving average is $195.78. Globant S.A. has a 12 month low of $151.68 and a 12 month high of $251.50.

Analysts Set New Price Targets

GLOB has been the topic of several recent research reports. Piper Sandler reduced their price target on Globant from $240.00 to $237.00 and set an "overweight" rating on the stock in a research note on Friday, November 15th. StockNews.com upgraded shares of Globant from a "sell" rating to a "hold" rating in a research note on Sunday, November 24th. Deutsche Bank Aktiengesellschaft began coverage on shares of Globant in a research report on Thursday, August 22nd. They set a "hold" rating and a $210.00 price target for the company. JPMorgan Chase & Co. upped their price objective on shares of Globant from $237.00 to $248.00 and gave the stock an "overweight" rating in a report on Wednesday, October 30th. Finally, Citigroup lifted their target price on shares of Globant from $240.00 to $251.00 and gave the company a "buy" rating in a report on Monday, October 28th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $229.00.

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.