Riverbridge Partners LLC lowered its position in Globant S.A. (NYSE:GLOB – Free Report) by 6.1% during the 4th quarter, HoldingsChannel reports. The fund owned 1,143,801 shares of the information technology services provider’s stock after selling 73,729 shares during the period. Globant comprises about 3.3% of Riverbridge Partners LLC’s investment portfolio, making the stock its 2nd largest holding. Riverbridge Partners LLC’s holdings in Globant were worth $245,254,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in the company. Quarry LP boosted its holdings in Globant by 529.6% during the 2nd quarter. Quarry LP now owns 170 shares of the information technology services provider’s stock valued at $30,000 after acquiring an additional 143 shares during the period. ORG Partners LLC boosted its stake 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 valued at $38,000 after purchasing an additional 76 shares during the period. Wilmington Savings Fund Society FSB bought a new position in shares of Globant in the third quarter worth about $40,000. American National Bank & Trust grew its holdings in shares of Globant by 430.2% in the third quarter. American National Bank & Trust now owns 228 shares of the information technology services provider’s stock worth $45,000 after purchasing an additional 185 shares during the last quarter. Finally, Signaturefd LLC increased its stake in Globant by 46.0% in the 3rd quarter. Signaturefd LLC now owns 292 shares of the information technology services provider’s stock worth $58,000 after buying an additional 92 shares during the period. Institutional investors own 91.60% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities research analysts have issued reports on GLOB shares. Scotiabank boosted their price objective on shares of Globant from $210.00 to $220.00 and gave the company a “sector perform” rating in a research report on Tuesday, November 19th. TD Cowen boosted their price target on Globant from $230.00 to $240.00 and gave the company a “buy” rating in a report on Friday, November 15th. JPMorgan Chase & Co. raised 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. Citigroup upped their target price on Globant from $240.00 to $251.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Finally, Susquehanna began coverage on Globant in a research report on Tuesday, December 17th. They set a “positive” rating and a $255.00 price target on the stock. One analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $231.28.
Globant Trading Down 1.8 %
NYSE GLOB opened at $206.71 on Thursday. The firm’s fifty day simple moving average is $219.30 and its two-hundred day simple moving average is $207.60. The firm has a market capitalization of $8.91 billion, a P/E ratio of 53.97, a P/E/G ratio of 2.30 and a beta of 1.38. 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.
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