State Street Corp Decreases Holdings in Globant S.A. (NYSE:GLOB)

State Street Corp lowered its holdings in Globant S.A. (NYSE:GLOB - Free Report) by 12.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 442,523 shares of the information technology services provider's stock after selling 65,195 shares during the quarter. State Street Corp owned about 1.03% of Globant worth $87,682,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in GLOB. Stifel Financial Corp grew its stake in shares of Globant by 0.7% during the third quarter. Stifel Financial Corp now owns 42,529 shares of the information technology services provider's stock worth $8,427,000 after purchasing an additional 282 shares during the period. Quantinno Capital Management LP raised its holdings in shares of Globant by 14.0% in the 3rd quarter. Quantinno Capital Management LP now owns 1,502 shares of the information technology services provider's stock valued at $298,000 after purchasing an additional 185 shares during the period. IHT Wealth Management LLC lifted its holdings in Globant by 66.4% during the 3rd quarter. IHT Wealth Management LLC now owns 5,360 shares of the information technology services provider's stock valued at $1,059,000 after purchasing an additional 2,138 shares during the last quarter. Janus Henderson Group PLC lifted its position in Globant by 27.5% during the third quarter. Janus Henderson Group PLC now owns 40,586 shares of the information technology services provider's stock worth $8,039,000 after acquiring an additional 8,743 shares during the last quarter. Finally, Centiva Capital LP acquired a new stake in shares of Globant during the third quarter worth $885,000. Institutional investors own 91.60% of the company's stock.

Globant Trading Up 3.6 %

NYSE GLOB traded up $7.99 during trading hours on Tuesday, hitting $226.92. The company's stock had a trading volume of 580,304 shares, compared to its average volume of 480,005. The company has a market capitalization of $9.78 billion, a PE ratio of 57.16, a price-to-earnings-growth ratio of 2.72 and a beta of 1.37. Globant S.A. has a 52 week low of $151.68 and a 52 week high of $251.50. The company's 50-day simple moving average is $220.34 and its two-hundred day simple moving average is $198.28.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on GLOB shares. Susquehanna assumed coverage on Globant in a research report on Tuesday. They set a "positive" rating and a $255.00 target price for the company. JPMorgan Chase & Co. boosted their price objective on Globant from $237.00 to $248.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 30th. Canaccord Genuity Group restated a "hold" rating and issued a $205.00 price target on shares of Globant in a research report on Monday, November 18th. Deutsche Bank Aktiengesellschaft began coverage on Globant in a research note on Thursday, August 22nd. They issued a "hold" rating and a $210.00 price target for the company. Finally, Scotiabank lifted their target price on shares of Globant from $210.00 to $220.00 and gave the stock a "sector perform" rating in a research note on Tuesday, November 19th. One 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.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $230.44.

Globant 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.