Westfield Capital Management Co. LP Sells 172,276 Shares of Globant S.A. (NYSE:GLOB)

Westfield Capital Management Co. LP reduced its stake in Globant S.A. (NYSE:GLOB) by 29.9% during the third quarter, HoldingsChannel.com reports. The fund owned 403,847 shares of the information technology services provider’s stock after selling 172,276 shares during the quarter. Westfield Capital Management Co. LP’s holdings in Globant were worth $80,018,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Quarry LP lifted its position in shares of Globant by 529.6% in the second 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. Ridgewood Investments LLC bought a new stake in Globant in the 2nd quarter worth approximately $31,000. BOKF NA raised its holdings in shares of Globant by 15,800.0% during the 1st quarter. BOKF NA now owns 159 shares of the information technology services provider’s stock worth $32,000 after acquiring an additional 158 shares in the last quarter. ORG Partners LLC boosted 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 valued at $38,000 after acquiring an additional 76 shares during the last quarter. Finally, American National Bank & Trust grew its holdings in shares of Globant by 430.2% in the third quarter. American National Bank & Trust now owns 228 shares of the information technology services provider’s stock valued at $45,000 after purchasing an additional 185 shares in the last quarter. Hedge funds and other institutional investors own 91.60% of the company’s stock.

Globant Stock Performance

NYSE GLOB opened at $229.25 on Friday. The company has a market capitalization of $9.88 billion, a price-to-earnings ratio of 59.86, a price-to-earnings-growth ratio of 2.72 and a beta of 1.39. The company’s 50-day simple moving average is $210.75 and its two-hundred day simple moving average is $192.16. Globant S.A. has a one year low of $151.68 and a one year high of $251.50.

Analyst Ratings Changes

Several research firms have commented on GLOB. Needham & Company LLC increased their price objective on shares of Globant from $245.00 to $265.00 and gave the company a “buy” rating in a research report on Friday, November 15th. TD Cowen increased their price target on shares of Globant from $230.00 to $240.00 and gave the company a “buy” rating in a report on Friday, November 15th. Jefferies Financial Group raised their price objective on Globant from $235.00 to $240.00 and gave the company a “buy” rating in a research note on Monday, September 9th. Piper Sandler cut their target price on Globant from $240.00 to $237.00 and set an “overweight” rating on the stock in a research report on Friday, November 15th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Globant from $237.00 to $248.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $229.06.

About Globant

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.