Wellington Management Group LLP Sells 6,092 Shares of Globant S.A. (NYSE:GLOB)

Wellington Management Group LLP reduced its holdings in Globant S.A. (NYSE:GLOB - Free Report) by 6.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 89,765 shares of the information technology services provider's stock after selling 6,092 shares during the quarter. Wellington Management Group LLP owned approximately 0.21% of Globant worth $17,786,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Victory Capital Management Inc. increased its position in Globant by 1,817.5% in the 3rd quarter. Victory Capital Management Inc. now owns 1,509,853 shares of the information technology services provider's stock valued at $299,162,000 after acquiring an additional 1,431,112 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Globant by 57.5% in the second quarter. Dimensional Fund Advisors LP now owns 442,312 shares of the information technology services provider's stock valued at $78,851,000 after purchasing an additional 161,512 shares in the last quarter. Sei Investments Co. increased its holdings in shares of Globant by 43.4% in the second quarter. Sei Investments Co. now owns 512,916 shares of the information technology services provider's stock valued at $91,432,000 after purchasing an additional 155,112 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in Globant by 89.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 266,184 shares of the information technology services provider's stock worth $47,450,000 after purchasing an additional 126,030 shares during the last quarter. Finally, Millennium Management LLC lifted its holdings in Globant by 84.8% during the 2nd quarter. Millennium Management LLC now owns 261,270 shares of the information technology services provider's stock worth $46,574,000 after buying an additional 119,860 shares in the last quarter. 91.60% of the stock is currently owned by institutional investors.

Globant Stock Down 1.3 %

Shares of GLOB traded down $2.92 on Friday, hitting $216.78. The company's stock had a trading volume of 306,717 shares, compared to its average volume of 479,136. The firm's fifty day moving average price is $219.84 and its 200-day moving average price is $197.41. Globant S.A. has a fifty-two week low of $151.68 and a fifty-two week high of $251.50. The firm has a market capitalization of $9.34 billion, a price-to-earnings ratio of 56.60, a P/E/G ratio of 2.72 and a beta of 1.37.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on GLOB. Deutsche Bank Aktiengesellschaft started coverage on Globant in a research report on Thursday, August 22nd. They set a "hold" rating and a $210.00 target price for the company. Scotiabank boosted their price objective on Globant from $210.00 to $220.00 and gave the stock a "sector perform" rating in a report on Tuesday, November 19th. Citigroup raised their target price on shares of Globant from $240.00 to $251.00 and gave the company a "buy" rating in a research note on Monday, October 28th. KeyCorp boosted their price target 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, StockNews.com upgraded shares of Globant from a "sell" rating to a "hold" rating in a report on Sunday, November 24th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average 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.