Fmr LLC Sells 71,290 Shares of Globant S.A. (NYSE:GLOB)

Fmr LLC lowered its holdings in Globant S.A. (NYSE:GLOB) by 13.1% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 471,777 shares of the information technology services provider’s stock after selling 71,290 shares during the period. Fmr LLC owned approximately 1.09% of Globant worth $93,478,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Quarry LP boosted its position 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 buying an additional 143 shares during the period. Ridgewood Investments LLC bought a new stake in shares of Globant during the 2nd quarter valued at about $31,000. ORG Partners LLC grew its holdings in shares of Globant by 65.5% during the 3rd quarter. ORG Partners LLC now owns 192 shares of the information technology services provider’s stock worth $38,000 after acquiring an additional 76 shares during the period. American National Bank & Trust raised its holdings 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 worth $45,000 after purchasing an additional 185 shares in the last quarter. Finally, Signaturefd LLC lifted its position in Globant by 46.0% during the third quarter. Signaturefd LLC now owns 292 shares of the information technology services provider’s stock valued at $58,000 after buying an additional 92 shares during the period. Institutional investors own 91.60% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Needham & Company LLC boosted their target price on Globant from $245.00 to $265.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Jefferies Financial Group boosted their price target on Globant from $235.00 to $240.00 and gave the stock a “buy” rating in a research note on Monday, September 9th. Deutsche Bank Aktiengesellschaft began coverage on Globant in a report on Thursday, August 22nd. They set a “hold” rating and a $210.00 price target on the stock. KeyCorp lifted their price objective on Globant from $220.00 to $235.00 and gave the stock an “overweight” rating in a report on Friday, August 16th. Finally, TD Cowen upped their target price on shares of Globant from $230.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, November 15th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, Globant presently has an average rating of “Moderate Buy” and an average target price of $229.06.

Globant Price Performance

Shares of Globant stock opened at $222.13 on Friday. Globant S.A. has a 1 year low of $151.68 and a 1 year high of $251.50. The stock has a market cap of $9.57 billion, a price-to-earnings ratio of 58.00, a PEG ratio of 2.74 and a beta of 1.37. The firm’s 50-day moving average is $216.76 and its two-hundred day moving average is $195.22.

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.