Globant S.A. (NYSE:GLOB) Shares Sold by Bamco Inc. NY

Bamco Inc. NY cut its holdings in shares of Globant S.A. (NYSE:GLOB) by 1.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 93,460 shares of the information technology services provider’s stock after selling 1,193 shares during the period. Bamco Inc. NY owned about 0.22% of Globant worth $18,518,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Quarry LP grew its holdings in Globant by 529.6% during the second quarter. Quarry LP now owns 170 shares of the information technology services provider’s stock worth $30,000 after acquiring an additional 143 shares during the period. Ridgewood Investments LLC acquired a new stake in shares of Globant during the 2nd quarter worth approximately $31,000. ORG Partners LLC increased 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 valued at $38,000 after purchasing an additional 76 shares in the last quarter. American National Bank & Trust lifted its stake in shares of Globant by 430.2% in the 3rd 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 during the period. Finally, Signaturefd LLC lifted its stake in shares of Globant by 46.0% in the 3rd quarter. Signaturefd LLC now owns 292 shares of the information technology services provider’s stock valued at $58,000 after purchasing an additional 92 shares during the period. 91.60% of the stock is owned by hedge funds and other institutional investors.

Globant Stock Performance

NYSE GLOB opened at $225.91 on Tuesday. Globant S.A. has a fifty-two week low of $151.68 and a fifty-two week high of $251.50. The firm has a market capitalization of $9.73 billion, a P/E ratio of 58.98, a price-to-earnings-growth ratio of 2.81 and a beta of 1.39. The stock’s fifty day moving average is $215.13 and its two-hundred day moving average is $194.44.

Wall Street Analysts Forecast Growth

GLOB has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of Globant from $237.00 to $248.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Needham & Company LLC upped their price target on Globant from $245.00 to $265.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Canaccord Genuity Group reissued a “hold” rating and issued a $205.00 price objective on shares of Globant in a report on Monday, November 18th. Scotiabank upped their target price on Globant from $210.00 to $220.00 and gave the stock a “sector perform” rating in a research note on Tuesday, November 19th. Finally, Citigroup lifted their price target on shares of Globant from $240.00 to $251.00 and gave the company a “buy” rating in a research note on Monday, October 28th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, Globant presently has a consensus rating of “Moderate Buy” and an average price target of $229.06.

About Globant

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.