Globant S.A. (NYSE:GLOB) Short Interest Update

Globant S.A. (NYSE:GLOB) saw a large decline in short interest in November. As of November 15th, there was short interest totalling 2,250,000 shares, a decline of 13.5% from the October 31st total of 2,600,000 shares. Based on an average daily volume of 431,700 shares, the short-interest ratio is presently 5.2 days.

Globant Stock Down 1.2 %

GLOB stock traded down $2.69 during trading on Tuesday, reaching $223.24. The company’s stock had a trading volume of 54,677 shares, compared to its average volume of 480,325. The company’s fifty day moving average is $215.13 and its 200-day moving average is $194.44. Globant has a 1 year low of $151.68 and a 1 year high of $251.50. The company has a market capitalization of $9.62 billion, a P/E ratio of 58.98, a price-to-earnings-growth ratio of 2.81 and a beta of 1.37.

Institutional Trading of Globant

Several institutional investors and hedge funds have recently added to or reduced their stakes in GLOB. Victory Capital Management Inc. grew its holdings 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 buying an additional 1,431,112 shares in the last quarter. Manning & Napier Advisors LLC purchased a new position in Globant during the second quarter valued at $99,396,000. Dimensional Fund Advisors LP increased its holdings in Globant by 57.5% in 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 acquiring an additional 161,512 shares during the last quarter. Sei Investments Co. boosted its holdings in shares of 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 last quarter. Finally, The Manufacturers Life Insurance Company grew its position in shares of Globant by 89.9% during the second 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 in the last quarter. Institutional investors own 91.60% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on GLOB shares. Needham & Company LLC boosted their price objective on shares of Globant from $245.00 to $265.00 and gave the stock a “buy” rating in a report on Friday, November 15th. StockNews.com raised Globant from a “sell” rating to a “hold” rating in a report on Sunday, November 24th. JPMorgan Chase & Co. lifted their price objective on Globant from $237.00 to $248.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Canaccord Genuity Group restated a “hold” rating and set a $205.00 target price on shares of Globant in a research note on Monday, November 18th. Finally, Scotiabank lifted their price target on shares of Globant from $210.00 to $220.00 and gave the stock a “sector perform” rating in a research note on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $229.06.

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.