Globant S.A. (NYSE:GLOB) Stock Position Decreased by Sara Bay Financial

Sara Bay Financial reduced its stake in shares of Globant S.A. (NYSE:GLOB) by 0.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 42,502 shares of the information technology services provider’s stock after selling 134 shares during the period. Globant accounts for 3.4% of Sara Bay Financial’s portfolio, making the stock its 9th biggest holding. Sara Bay Financial owned 0.10% of Globant worth $9,237,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Victory Capital Management Inc. raised its stake in Globant by 1,817.5% during the 3rd quarter. Victory Capital Management Inc. now owns 1,509,853 shares of the information technology services provider’s stock valued at $299,162,000 after purchasing an additional 1,431,112 shares during the period. Dimensional Fund Advisors LP raised its stake in Globant by 57.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 442,312 shares of the information technology services provider’s stock valued at $78,851,000 after purchasing an additional 161,512 shares during the period. Sei Investments Co. raised its stake in Globant by 43.4% during the 2nd quarter. Sei Investments Co. now owns 512,916 shares of the information technology services provider’s stock valued at $91,432,000 after purchasing an additional 155,112 shares during the period. JPMorgan Chase & Co. raised its stake in Globant by 6.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,368,608 shares of the information technology services provider’s stock valued at $469,316,000 after purchasing an additional 153,385 shares during the period. Finally, The Manufacturers Life Insurance Company raised its stake in Globant by 89.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 266,184 shares of the information technology services provider’s stock valued at $47,450,000 after purchasing an additional 126,030 shares during the period. 91.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Needham & Company LLC lifted their target price on Globant from $245.00 to $265.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Susquehanna assumed coverage on Globant in a report on Tuesday, December 17th. They set a “positive” rating and a $255.00 price objective on the stock. Canaccord Genuity Group reaffirmed a “hold” rating and set a $205.00 price objective on shares of Globant in a report on Monday, November 18th. Piper Sandler decreased their price objective on Globant from $240.00 to $237.00 and set an “overweight” rating on the stock in a report on Friday, November 15th. Finally, TD Cowen upped their price objective on Globant from $230.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, November 15th. One analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $230.44.

Globant Stock Performance

Globant stock traded down $3.40 during mid-day trading on Friday, hitting $213.48. The company’s stock had a trading volume of 353,326 shares, compared to its average volume of 310,224. The company has a 50 day moving average of $220.21 and a 200-day moving average of $206.67. The stock has a market cap of $9.20 billion, a PE ratio of 55.74, a P/E/G ratio of 2.26 and a beta of 1.38. Globant S.A. has a one year low of $151.68 and a one year 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.