Riverbridge Partners LLC Reduces Holdings in Globant S.A. (NYSE:GLOB)

Riverbridge Partners LLC reduced its stake in Globant S.A. (NYSE:GLOB) by 6.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,143,801 shares of the information technology services provider’s stock after selling 73,729 shares during the period. Globant makes up 3.3% of Riverbridge Partners LLC’s portfolio, making the stock its 2nd biggest position. Riverbridge Partners LLC owned approximately 2.65% of Globant worth $245,254,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of GLOB. Dimensional Fund Advisors LP boosted its stake in Globant by 57.5% during 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 purchasing an additional 161,512 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its position in shares of Globant by 7.3% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,296 shares of the information technology services provider’s stock valued at $409,000 after buying an additional 156 shares during the last quarter. Thrivent Financial for Lutherans increased its holdings in Globant by 29.7% in the 2nd quarter. Thrivent Financial for Lutherans now owns 83,525 shares of the information technology services provider’s stock worth $14,890,000 after buying an additional 19,128 shares in the last quarter. Marshall Wace LLP purchased a new position in Globant in the 2nd quarter worth about $1,319,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp bought a new position in Globant during the 2nd quarter valued at about $4,750,000. 91.60% of the stock is currently owned by institutional investors.

Globant Stock Down 1.8 %

GLOB stock opened at $206.71 on Thursday. Globant S.A. has a 52 week low of $151.68 and a 52 week high of $251.50. The firm has a market capitalization of $8.91 billion, a P/E ratio of 53.97, a price-to-earnings-growth ratio of 2.30 and a beta of 1.38. The company has a fifty day simple moving average of $219.30 and a two-hundred day simple moving average of $207.60.

Wall Street Analysts Forecast Growth

GLOB has been the subject of several research reports. StockNews.com raised shares of Globant from a “sell” rating to a “hold” rating in a report on Sunday, November 24th. Canaccord Genuity Group reiterated a “hold” rating and set a $205.00 target price on shares of Globant in a research note on Monday, November 18th. Susquehanna started coverage on Globant in a report on Tuesday, December 17th. They set a “positive” rating and a $255.00 price target on the stock. 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. Finally, Scotiabank increased their target price on Globant from $210.00 to $220.00 and gave the company a “sector perform” rating in a report on Tuesday, November 19th. One investment 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 data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.