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

D.B. Root & Company LLC trimmed its holdings in Globant S.A. (NYSE:GLOB) by 6.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. 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 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Creative Planning raised its stake in shares of Globant by 20.5% during the 3rd quarter. Creative Planning now owns 2,062 shares of the information technology services provider’s stock valued at $409,000 after purchasing an additional 351 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Globant during the third quarter valued at about $11,145,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Globant by 18.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 53,816 shares of the information technology services provider’s stock valued at $10,663,000 after buying an additional 8,427 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Globant by 121.3% in the third quarter. Principal Financial Group Inc. now owns 30,351 shares of the information technology services provider’s stock worth $6,014,000 after buying an additional 16,639 shares in the last quarter. Finally, Marshall Wace LLP bought a new position in shares of Globant in the second quarter valued at approximately $1,319,000. Institutional investors own 91.60% of the company’s stock.

Wall Street Analysts Forecast Growth

GLOB has been the topic of a number of analyst reports. Susquehanna began coverage on shares of Globant in a report on Tuesday, December 17th. They set a “positive” rating and a $255.00 target price on the stock. Canaccord Genuity Group reaffirmed a “hold” rating and issued a $205.00 price target on shares of Globant in a report on Monday, November 18th. StockNews.com raised Globant from a “sell” rating to a “hold” rating in a research note on Sunday, November 24th. Scotiabank upped their target price on Globant from $210.00 to $220.00 and gave the stock a “sector perform” rating in a research note on Tuesday, November 19th. Finally, Needham & Company LLC raised their price target on Globant from $245.00 to $265.00 and gave the company a “buy” rating in a report on Friday, November 15th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Globant has an average rating of “Moderate Buy” and an average target price of $231.28.

Globant Stock Performance

GLOB stock opened at $207.95 on Friday. The firm has a market cap of $8.96 billion, a P/E ratio of 54.29, a P/E/G ratio of 2.30 and a beta of 1.38. The firm’s fifty day moving average is $218.70 and its 200 day moving average is $207.59. Globant S.A. has a 52 week low of $151.68 and a 52 week high of $251.50.

Globant 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.