Jennison Associates LLC Sells 18,429 Shares of Globant S.A. (NYSE:GLOB)

Jennison Associates LLC lessened its position in shares of Globant S.A. (NYSE:GLOB) by 2.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 797,577 shares of the information technology services provider’s stock after selling 18,429 shares during the period. Jennison Associates LLC owned about 1.85% of Globant worth $158,032,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Equitable Trust Co. boosted its holdings in Globant by 1.1% during the third quarter. Equitable Trust Co. now owns 4,550 shares of the information technology services provider’s stock worth $902,000 after purchasing an additional 50 shares during the last quarter. 17 Capital Partners LLC grew its holdings in shares of Globant by 1.6% in the 2nd quarter. 17 Capital Partners LLC now owns 3,455 shares of the information technology services provider’s stock valued at $616,000 after acquiring an additional 55 shares in the last quarter. ORG Partners LLC increased its position in shares of Globant by 65.5% in the third quarter. ORG Partners LLC now owns 192 shares of the information technology services provider’s stock valued at $38,000 after acquiring an additional 76 shares during the last quarter. Signaturefd LLC raised its holdings in Globant by 46.0% during the third 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, Parkside Financial Bank & Trust boosted its holdings in shares of Globant by 6.3% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,977 shares of the information technology services provider’s stock valued at $352,000 after buying an additional 118 shares during the last quarter. Institutional investors own 91.60% of the company’s stock.

Globant Trading Up 2.2 %

Globant stock opened at $208.59 on Wednesday. The stock has a 50-day moving average price of $209.32 and a two-hundred day moving average price of $191.52. The company has a market capitalization of $8.99 billion, a PE ratio of 54.46, a P/E/G ratio of 2.49 and a beta of 1.39. Globant S.A. has a 12 month low of $151.68 and a 12 month high of $251.50.

Wall Street Analysts Forecast Growth

GLOB has been the topic of several research reports. Deutsche Bank Aktiengesellschaft began coverage on shares of Globant in a report on Thursday, August 22nd. They issued a “hold” rating and a $210.00 price objective on the stock. JPMorgan Chase & Co. increased their price target on Globant from $237.00 to $248.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Jefferies Financial Group lifted their price objective on Globant from $235.00 to $240.00 and gave the company a “buy” rating in a report on Monday, September 9th. Citigroup increased 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, KeyCorp boosted their price target on Globant from $220.00 to $235.00 and gave the company an “overweight” rating in a research note on Friday, August 16th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $229.06.

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.