Swedbank AB Sells 12,900 Shares of Globant S.A. (NYSE:GLOB)

Swedbank AB decreased its position in shares of Globant S.A. (NYSE:GLOB) by 26.1% during the third quarter, according to its most recent filing with the SEC. The firm owned 36,500 shares of the information technology services provider’s stock after selling 12,900 shares during the period. Swedbank AB’s holdings in Globant were worth $7,232,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Quarry LP boosted its position in shares of Globant by 529.6% during the second quarter. Quarry LP now owns 170 shares of the information technology services provider’s stock valued at $30,000 after purchasing an additional 143 shares in the last quarter. Ridgewood Investments LLC purchased a new position in Globant during the second quarter valued at $31,000. BOKF NA grew its position in shares of Globant by 15,800.0% in the 1st quarter. BOKF NA now owns 159 shares of the information technology services provider’s stock worth $32,000 after buying an additional 158 shares during the period. ORG Partners LLC grew its position 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 buying an additional 76 shares during the period. Finally, American National Bank & Trust increased 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 worth $45,000 after acquiring an additional 185 shares in the last quarter. Institutional investors own 91.60% of the company’s stock.

Wall Street Analyst Weigh In

GLOB has been the topic of a number of recent research reports. Canaccord Genuity Group restated a “hold” rating and issued a $205.00 price objective on shares of Globant in a report on Monday, November 18th. StockNews.com upgraded Globant from a “sell” rating to a “hold” rating in a research note on Sunday. UBS Group reiterated a “neutral” rating and set a $235.00 price objective (up previously from $225.00) on shares of Globant in a research note on Tuesday, August 20th. Citigroup increased their target price on Globant from $240.00 to $251.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Finally, Needham & Company LLC lifted their price target on Globant from $245.00 to $265.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $229.06.

Globant Stock Performance

Globant stock opened at $230.93 on Wednesday. Globant S.A. has a one year low of $151.68 and a one year high of $251.50. The stock has a fifty day moving average of $212.20 and a 200 day moving average of $192.98. The stock has a market cap of $9.95 billion, a PE ratio of 60.30, a price-to-earnings-growth ratio of 2.80 and a beta of 1.39.

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.