DSM Capital Partners LLC Lowers Stock Holdings in Globant S.A. (NYSE:GLOB)

DSM Capital Partners LLC lessened its holdings in Globant S.A. (NYSE:GLOB) by 4.3% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 17,781 shares of the information technology services provider’s stock after selling 800 shares during the quarter. DSM Capital Partners LLC’s holdings in Globant were worth $3,813,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Equitable Trust Co. raised its position in shares of Globant by 1.1% during the third quarter. Equitable Trust Co. now owns 4,550 shares of the information technology services provider’s stock valued at $902,000 after buying an additional 50 shares during the last quarter. M&T Bank Corp increased its holdings in Globant by 3.8% in the 3rd quarter. M&T Bank Corp now owns 1,641 shares of the information technology services provider’s stock valued at $326,000 after acquiring an additional 60 shares during the last quarter. Franklin Resources Inc. lifted its stake in Globant by 0.6% in the 3rd quarter. Franklin Resources Inc. now owns 12,800 shares of the information technology services provider’s stock worth $2,704,000 after purchasing an additional 71 shares in the last quarter. Signaturefd LLC boosted its holdings in shares of Globant by 46.0% during 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 last quarter. Finally, National Bank of Canada FI grew its position in shares of Globant by 3.3% during the third quarter. National Bank of Canada FI now owns 3,816 shares of the information technology services provider’s stock valued at $756,000 after purchasing an additional 122 shares in the last quarter. 91.60% of the stock is owned by institutional investors.

Globant Price Performance

Globant stock opened at $222.49 on Wednesday. The firm has a market capitalization of $9.59 billion, a P/E ratio of 58.09, a price-to-earnings-growth ratio of 2.54 and a beta of 1.39. Globant S.A. has a 1-year low of $151.68 and a 1-year high of $238.32. The company’s 50-day moving average is $215.61 and its 200 day moving average is $210.55.

Analyst Ratings Changes

GLOB has been the topic of a number of research analyst reports. JPMorgan Chase & Co. boosted their target price on Globant from $237.00 to $248.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. TD Cowen lifted their price objective on Globant from $230.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Canaccord Genuity Group reiterated a “hold” rating and set a $205.00 target price on shares of Globant in a research report on Monday, November 18th. Jefferies Financial Group boosted their price target on shares of Globant from $240.00 to $255.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. Finally, StockNews.com raised shares of Globant from a “sell” rating to a “hold” rating in a research note on Sunday, November 24th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $230.28.

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.