Truist Financial Corp lessened its holdings in shares of Globant S.A. (NYSE:GLOB – Free Report) by 20.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 21,309 shares of the information technology services provider’s stock after selling 5,335 shares during the quarter. Truist Financial Corp’s holdings in Globant were worth $3,799,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in the business. Manning & Napier Advisors LLC purchased a new position in Globant during the second quarter worth approximately $99,396,000. Wasatch Advisors LP lifted its stake in shares of Globant by 6.8% in the 1st quarter. Wasatch Advisors LP now owns 3,336,764 shares of the information technology services provider’s stock valued at $673,693,000 after purchasing an additional 213,049 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Globant by 57.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 442,312 shares of the information technology services provider’s stock worth $78,851,000 after purchasing an additional 161,512 shares during the period. Sei Investments Co. increased its position in Globant by 43.4% during the 2nd quarter. Sei Investments Co. now owns 512,916 shares of the information technology services provider’s stock worth $91,432,000 after purchasing an additional 155,112 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in Globant by 89.9% during 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 in the last quarter. Institutional investors and hedge funds own 91.60% of the company’s stock.
Globant Stock Performance
GLOB opened at $212.26 on Wednesday. The company has a market capitalization of $9.15 billion, a P/E ratio of 55.72, a PEG ratio of 2.38 and a beta of 1.39. The company has a 50-day moving average of $195.57 and a 200-day moving average of $185.60. Globant S.A. has a 1-year low of $151.68 and a 1-year high of $251.50.
Wall Street Analysts Forecast Growth
GLOB has been the subject of several research reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Globant in a research note on Thursday, August 22nd. They set a “hold” rating and a $210.00 price objective for the company. Scotiabank increased their price target on Globant from $200.00 to $210.00 and gave the company a “sector perform” rating in a report on Wednesday, August 21st. KeyCorp raised their price objective on Globant from $220.00 to $235.00 and gave the company an “overweight” rating in a research report on Friday, August 16th. Canaccord Genuity Group upped their target price on Globant from $175.00 to $205.00 and gave the stock a “hold” rating in a research report on Wednesday, August 21st. Finally, StockNews.com downgraded Globant from a “hold” rating to a “sell” rating in a report on Tuesday, August 27th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, Globant has a consensus rating of “Moderate Buy” and a consensus target price of $222.90.
View Our Latest Research Report on GLOB
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.
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