Swedbank AB Trims Holdings in Globant S.A. (NYSE:GLOB)

Swedbank AB trimmed its position in Globant S.A. (NYSE:GLOB - Free Report) by 35.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 23,500 shares of the information technology services provider's stock after selling 13,000 shares during the quarter. Swedbank AB owned about 0.05% of Globant worth $5,039,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Quarry LP raised its position in Globant by 529.6% in the second quarter. Quarry LP now owns 170 shares of the information technology services provider's stock valued at $30,000 after purchasing an additional 143 shares during the period. ORG Partners LLC grew its stake in Globant by 65.5% during the 3rd 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 acquired a new position in shares of Globant during the 3rd quarter worth about $40,000. Signaturefd LLC boosted its position in shares of Globant by 46.0% during the 3rd quarter. Signaturefd LLC now owns 292 shares of the information technology services provider's stock worth $58,000 after acquiring an additional 92 shares in the last quarter. Finally, Van ECK Associates Corp boosted its position in shares of Globant by 62.4% during the 3rd quarter. Van ECK Associates Corp now owns 398 shares of the information technology services provider's stock worth $86,000 after acquiring an additional 153 shares in the last quarter. 91.60% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have commented on the company. Susquehanna initiated coverage on Globant in a research note on Tuesday, December 17th. They set a "positive" rating and a $255.00 price objective for the company. 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. Citigroup raised their price objective on Globant from $240.00 to $251.00 and gave the company a "buy" rating in a research report on Monday, October 28th. JPMorgan Chase & Co. lifted their price target on Globant from $237.00 to $248.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 30th. Finally, UBS Group decreased their target price on Globant from $222.00 to $217.00 and set a "neutral" rating for the company in a research note on Monday. One investment 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $230.28.

Globant Stock Performance

GLOB traded down $1.26 on Wednesday, reaching $213.72. The company had a trading volume of 290,435 shares, compared to its average volume of 441,123. The stock has a market cap of $9.21 billion, a P/E ratio of 55.80, a P/E/G ratio of 2.33 and a beta of 1.39. Globant S.A. has a fifty-two week low of $151.68 and a fifty-two week high of $245.81. The company's fifty day moving average is $216.87 and its 200 day moving average is $208.89.

About Globant

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.