Manning & Napier Advisors LLC Cuts Stock Holdings in Globant S.A. (NYSE:GLOB)

Manning & Napier Advisors LLC trimmed its position in shares of Globant S.A. (NYSE:GLOB) by 9.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 487,277 shares of the information technology services provider’s stock after selling 51,896 shares during the period. Manning & Napier Advisors LLC’s holdings in Globant were worth $104,482,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in GLOB. Quarry LP increased its holdings in Globant by 529.6% in the 2nd quarter. Quarry LP now owns 170 shares of the information technology services provider’s stock worth $30,000 after acquiring an additional 143 shares in the last quarter. ORG Partners LLC grew its holdings in shares of Globant by 65.5% during the third quarter. ORG Partners LLC now owns 192 shares of the information technology services provider’s stock worth $38,000 after buying an additional 76 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Globant during the third quarter worth $40,000. American National Bank & Trust grew its holdings in shares of Globant by 430.2% during the third quarter. American National Bank & Trust now owns 228 shares of the information technology services provider’s stock worth $45,000 after buying an additional 185 shares in the last quarter. Finally, Signaturefd LLC grew its holdings in shares of Globant by 46.0% during the third quarter. Signaturefd LLC now owns 292 shares of the information technology services provider’s stock worth $58,000 after buying an additional 92 shares in the last quarter. 91.60% of the stock is owned by hedge funds and other institutional investors.

Globant Stock Down 1.5 %

Globant stock traded down $3.19 during mid-day trading on Wednesday, hitting $205.36. The company had a trading volume of 26,172 shares, compared to its average volume of 411,227. The stock has a market cap of $8.85 billion, a price-to-earnings ratio of 53.76, a PEG ratio of 2.26 and a beta of 1.38. Globant S.A. has a 1 year low of $151.68 and a 1 year high of $251.50. The business has a fifty day moving average of $218.37 and a 200 day moving average of $208.29.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $265.00 target price on shares of Globant in a report on Friday, January 24th. JPMorgan Chase & Co. boosted their price target on shares of Globant from $237.00 to $248.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Piper Sandler lowered their price target on shares of Globant from $240.00 to $237.00 and set an “overweight” rating on the stock in a research report on Friday, November 15th. Canaccord Genuity Group reaffirmed a “hold” rating and issued a $205.00 target price on shares of Globant in a research report on Monday, November 18th. Finally, Scotiabank upped their target price 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. One research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $231.28.

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.