Sara Bay Financial Reduces Stock Position in Globant S.A. (NYSE:GLOB)

Sara Bay Financial decreased its position in shares of Globant S.A. (NYSE:GLOB) by 0.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 42,502 shares of the information technology services provider’s stock after selling 134 shares during the quarter. Globant makes up 3.4% of Sara Bay Financial’s holdings, making the stock its 9th largest holding. Sara Bay Financial’s holdings in Globant were worth $9,237,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in GLOB. Quarry LP grew its position in shares of Globant by 529.6% during the 2nd quarter. Quarry LP now owns 170 shares of the information technology services provider’s stock worth $30,000 after buying an additional 143 shares in the last quarter. ORG Partners LLC grew its position 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 buying an additional 76 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Globant during the 3rd quarter worth $40,000. American National Bank & Trust grew its position in shares of Globant by 430.2% during the 3rd quarter. American National Bank & Trust now owns 228 shares of the information technology services provider’s stock worth $45,000 after buying an additional 185 shares in the last quarter. Finally, Signaturefd LLC grew its position 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 worth $58,000 after buying an additional 92 shares in the last quarter. Institutional investors own 91.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Piper Sandler decreased their price objective on Globant from $240.00 to $237.00 and set an “overweight” rating for the company in a research note on Friday, November 15th. Needham & Company LLC upped their price objective on Globant from $245.00 to $265.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. StockNews.com upgraded Globant from a “sell” rating to a “hold” rating in a research note on Sunday, November 24th. JPMorgan Chase & Co. upped their price objective on Globant from $237.00 to $248.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Finally, Susquehanna assumed coverage on Globant in a research note on Tuesday, December 17th. They set a “positive” rating and a $255.00 price objective for the company. One research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $230.44.

Globant Stock Down 1.6 %

Shares of NYSE:GLOB traded down $3.40 during trading on Friday, hitting $213.48. The stock had a trading volume of 353,326 shares, compared to its average volume of 310,224. Globant S.A. has a 12-month low of $151.68 and a 12-month high of $251.50. The stock has a market capitalization of $9.20 billion, a price-to-earnings ratio of 55.74, a price-to-earnings-growth ratio of 2.26 and a beta of 1.38. The stock has a 50-day simple moving average of $220.21 and a two-hundred day simple moving average of $206.67.

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.