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

Swedbank AB lessened its holdings in Globant S.A. (NYSE:GLOB - Free Report) by 26.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,500 shares of the information technology services provider's stock after selling 12,900 shares during the quarter. Swedbank AB owned 0.08% of Globant worth $7,232,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Equitable Trust Co. boosted its stake in shares of Globant by 1.1% during the 3rd quarter. Equitable Trust Co. now owns 4,550 shares of the information technology services provider's stock worth $902,000 after buying an additional 50 shares during the last quarter. 17 Capital Partners LLC boosted its holdings in shares of Globant by 1.6% during the 2nd quarter. 17 Capital Partners LLC now owns 3,455 shares of the information technology services provider's stock worth $616,000 after buying an additional 55 shares during the period. ORG Partners LLC grew its position in 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 buying an additional 76 shares in the last quarter. Signaturefd LLC boosted 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 valued at $58,000 after purchasing an additional 92 shares in the last quarter. Finally, Parkside Financial Bank & Trust lifted its position in shares of Globant by 6.3% during the 2nd 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 last quarter. Institutional investors and hedge funds own 91.60% of the company's stock.

Globant Price Performance

NYSE:GLOB traded down $0.64 during trading hours on Wednesday, hitting $230.29. The stock had a trading volume of 128,282 shares, compared to its average volume of 483,686. Globant S.A. has a one year low of $151.68 and a one year high of $251.50. The company has a 50 day simple moving average of $212.20 and a two-hundred day simple moving average of $192.98. The firm has a market capitalization of $9.92 billion, a price-to-earnings ratio of 60.30, a P/E/G ratio of 2.85 and a beta of 1.39.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Scotiabank upped their price objective on shares of Globant from $210.00 to $220.00 and gave the stock a "sector perform" rating in a research report on Tuesday, November 19th. UBS Group reissued a "neutral" rating and set a $235.00 price target (up from $225.00) on shares of Globant in a research note on Tuesday, August 20th. Piper Sandler decreased their price target on Globant from $240.00 to $237.00 and set an "overweight" rating for the company in a research note on Friday, November 15th. KeyCorp lifted their target price on shares of Globant from $220.00 to $235.00 and gave the stock an "overweight" rating in a research note on Friday, August 16th. Finally, JPMorgan Chase & Co. upped their price target on shares of Globant from $237.00 to $248.00 and gave the company an "overweight" rating in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $229.06.

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.