Captrust Financial Advisors Sells 1,993 Shares of Globant S.A. (NYSE:GLOB)

Captrust Financial Advisors trimmed its stake in Globant S.A. (NYSE:GLOB) by 22.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,866 shares of the information technology services provider’s stock after selling 1,993 shares during the period. Captrust Financial Advisors’ holdings in Globant were worth $1,360,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Quarry LP lifted its position in Globant by 529.6% in the second quarter. Quarry LP now owns 170 shares of the information technology services provider’s stock worth $30,000 after buying an additional 143 shares during the last quarter. Ridgewood Investments LLC bought a new stake in shares of Globant in the 2nd quarter worth about $31,000. ORG Partners LLC lifted its holdings in shares of Globant by 65.5% in 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 last quarter. American National Bank & Trust lifted its stake 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 during the last quarter. Finally, Signaturefd LLC lifted its stake in Globant by 46.0% in the third quarter. Signaturefd LLC now owns 292 shares of the information technology services provider’s stock worth $58,000 after purchasing an additional 92 shares during the last quarter. 91.60% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on GLOB shares. Jefferies Financial Group raised 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. Piper Sandler reduced their price objective on shares of Globant from $240.00 to $237.00 and set an “overweight” rating for the company in a research note on Friday, November 15th. Scotiabank upped their target price on Globant from $210.00 to $220.00 and gave the company a “sector perform” rating in a research report on Tuesday, November 19th. UBS Group reaffirmed a “neutral” rating and set a $235.00 target price (up from $225.00) on shares of Globant in a research report on Tuesday, August 20th. Finally, TD Cowen upped their price objective on shares of Globant from $230.00 to $240.00 and gave the company a “buy” rating in a report on Friday, November 15th. One research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $229.00.

Globant Stock Performance

Shares of GLOB opened at $229.73 on Friday. The business’s 50-day moving average is $217.41 and its two-hundred day moving average is $195.78. The company has a market capitalization of $9.90 billion, a P/E ratio of 59.98, a P/E/G ratio of 2.78 and a beta of 1.37. Globant S.A. has a fifty-two week low of $151.68 and a fifty-two week high of $251.50.

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.