D.B. Root & Company LLC Reduces Position in Globant S.A. (NYSE:GLOB)

D.B. Root & Company LLC trimmed its position in Globant S.A. (NYSE:GLOB) by 6.9% during the 4th quarter, Holdings Channel reports. The institutional investor owned 991 shares of the information technology services provider’s stock after selling 74 shares during the period. D.B. Root & Company LLC’s holdings in Globant were worth $212,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quarry LP increased 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 valued at $30,000 after acquiring an additional 143 shares during the period. ORG Partners LLC grew its stake in shares of Globant by 65.5% in the third quarter. ORG Partners LLC now owns 192 shares of the information technology services provider’s stock worth $38,000 after purchasing an additional 76 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Globant during the 3rd quarter valued at about $40,000. American National Bank & Trust raised its position in Globant by 430.2% during the 3rd 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 during the last quarter. Finally, Signaturefd LLC lifted its holdings in 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 period. 91.60% of the stock is currently owned by institutional investors.

Globant Price Performance

Shares of NYSE:GLOB opened at $207.95 on Friday. The company has a market capitalization of $8.96 billion, a PE ratio of 54.29, a PEG ratio of 2.30 and a beta of 1.38. The business has a fifty day moving average price of $218.70 and a 200-day moving average price of $207.59. Globant S.A. has a 1-year low of $151.68 and a 1-year high of $251.50.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on GLOB. Needham & Company LLC boosted 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. Scotiabank boosted their price objective on shares of Globant from $210.00 to $220.00 and gave the company a “sector perform” rating in a research report on Tuesday, November 19th. 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. Piper Sandler cut their target price on shares of Globant from $240.00 to $237.00 and set an “overweight” rating on the stock in a research note on Friday, November 15th. Finally, Susquehanna assumed coverage on shares of Globant in a research note on Tuesday, December 17th. They issued a “positive” rating and a $255.00 price target for the company. One analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $231.28.

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.