Manning & Napier Advisors LLC Sells 51,896 Shares of Globant S.A. (NYSE:GLOB)

Manning & Napier Advisors LLC lowered its stake in shares of Globant S.A. (NYSE:GLOB - Free Report) by 9.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 487,277 shares of the information technology services provider's stock after selling 51,896 shares during the period. Manning & Napier Advisors LLC owned 1.13% of Globant worth $104,482,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Quarry LP boosted its stake in Globant by 529.6% during the second quarter. Quarry LP now owns 170 shares of the information technology services provider's stock valued at $30,000 after buying an additional 143 shares during the period. ORG Partners LLC grew 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 worth $38,000 after purchasing an additional 76 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Globant in the third quarter worth approximately $40,000. American National Bank & Trust raised its stake in Globant by 430.2% in the third 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 lifted its position in 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 purchasing an additional 92 shares during the last quarter. 91.60% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Susquehanna started coverage on shares of Globant in a research report on Tuesday, December 17th. They set a "positive" rating and a $255.00 price objective on the stock. Jefferies Financial Group raised their price target on Globant from $240.00 to $255.00 and gave the company a "buy" rating in a research report on Tuesday, January 21st. JPMorgan Chase & Co. upped their price objective on Globant from $237.00 to $248.00 and gave the stock an "overweight" rating in a report on Wednesday, October 30th. TD Cowen raised their price objective on Globant from $230.00 to $240.00 and gave the company a "buy" rating in a report on Friday, November 15th. Finally, Citigroup upped their price target on shares of Globant from $240.00 to $251.00 and gave the company a "buy" rating in a research report on Monday, October 28th. One research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Globant has a consensus rating of "Moderate Buy" and a consensus price target of $231.28.

Globant Trading Down 0.7 %

NYSE:GLOB traded down $1.49 during trading hours on Thursday, reaching $206.63. 291,129 shares of the company traded hands, compared to its average volume of 420,923. The stock has a market capitalization of $8.90 billion, a P/E ratio of 53.95, a P/E/G ratio of 2.26 and a beta of 1.38. The business's 50-day moving average price is $218.20 and its two-hundred day moving average price is $208.39. Globant S.A. has a 1 year low of $151.68 and a 1 year high of $251.50.

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.