Wellington Management Group LLP Sells 6,092 Shares of Globant S.A. (NYSE:GLOB)

Wellington Management Group LLP reduced its holdings in Globant S.A. (NYSE:GLOB) by 6.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 89,765 shares of the information technology services provider’s stock after selling 6,092 shares during the quarter. Wellington Management Group LLP’s holdings in Globant were worth $17,786,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Equitable Trust Co. grew its position in shares of Globant by 1.1% in the 3rd quarter. Equitable Trust Co. now owns 4,550 shares of the information technology services provider’s stock worth $902,000 after buying an additional 50 shares during the last quarter. 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 last quarter. Signaturefd LLC grew its position 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 worth $58,000 after buying an additional 92 shares during the last quarter. Parkside Financial Bank & Trust grew its position in shares of Globant by 6.3% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,977 shares of the information technology services provider’s stock worth $352,000 after buying an additional 118 shares during the last quarter. Finally, Blue Trust Inc. lifted its stake in shares of Globant by 17.9% in the 2nd quarter. Blue Trust Inc. now owns 831 shares of the information technology services provider’s stock valued at $148,000 after purchasing an additional 126 shares during the period. 91.60% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft assumed coverage on Globant in a research note on Thursday, August 22nd. They issued a “hold” rating and a $210.00 target price for the company. KeyCorp raised their target price on Globant from $220.00 to $235.00 and gave the company an “overweight” rating in a research note on Friday, August 16th. Citigroup raised their target price on Globant from $240.00 to $251.00 and gave the company a “buy” rating in a research note on Monday, October 28th. JPMorgan Chase & Co. raised their target price on Globant from $237.00 to $248.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Finally, UBS Group restated a “neutral” rating and issued a $235.00 target price (up previously from $225.00) on shares of Globant in a research note on Tuesday, August 20th. One analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, Globant currently has an average rating of “Moderate Buy” and a consensus price target of $229.00.

Globant Trading Down 1.3 %

Globant stock opened at $216.77 on Friday. The firm has a market cap of $9.34 billion, a price-to-earnings ratio of 56.38, a PEG ratio of 2.72 and a beta of 1.37. The stock has a fifty day simple moving average of $219.37 and a two-hundred day simple moving average of $197.07. Globant S.A. has a 12 month low of $151.68 and a 12 month 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.