Westfield Capital Management Co. LP Sells 172,276 Shares of Globant S.A. (NYSE:GLOB)

Westfield Capital Management Co. LP reduced its position in Globant S.A. (NYSE:GLOB - Free Report) by 29.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 403,847 shares of the information technology services provider's stock after selling 172,276 shares during the period. Westfield Capital Management Co. LP owned about 0.94% of Globant worth $80,018,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in GLOB. Quarry LP grew its position 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 purchasing an additional 143 shares in the last quarter. Ridgewood Investments LLC acquired a new position in shares of Globant in the second quarter worth $31,000. BOKF NA raised its holdings in shares of Globant by 15,800.0% during the first quarter. BOKF NA now owns 159 shares of the information technology services provider's stock worth $32,000 after acquiring an additional 158 shares in the last quarter. ORG Partners LLC boosted 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 valued at $38,000 after purchasing an additional 76 shares during the last quarter. Finally, American National Bank & Trust grew 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. 91.60% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently weighed in on GLOB shares. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Globant in a research report on Thursday, August 22nd. They set a "hold" rating and a $210.00 price objective on the stock. JPMorgan Chase & Co. increased their target price on shares of Globant from $237.00 to $248.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 30th. KeyCorp raised their price objective on Globant from $220.00 to $235.00 and gave the company an "overweight" rating in a research note on Friday, August 16th. StockNews.com raised shares of Globant from a "sell" rating to a "hold" rating in a research report on Sunday. Finally, Citigroup increased 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. One analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $229.06.

Globant Stock Up 2.9 %

GLOB traded up $6.56 during trading on Friday, hitting $229.25. The company's stock had a trading volume of 392,395 shares, compared to its average volume of 522,138. The stock has a market capitalization of $9.88 billion, a price-to-earnings ratio of 59.86, a price-to-earnings-growth ratio of 2.72 and a beta of 1.39. The firm's 50 day moving average price is $210.75 and its two-hundred day moving average price is $192.16. Globant S.A. has a 12 month low of $151.68 and a 12 month high of $251.50.

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.