Border to Coast Pensions Partnership Ltd Sells 13,350 Shares of Globant S.A. (NYSE:GLOB)

Border to Coast Pensions Partnership Ltd trimmed its position in Globant S.A. (NYSE:GLOB) by 13.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 89,539 shares of the information technology services provider’s stock after selling 13,350 shares during the period. Border to Coast Pensions Partnership Ltd owned approximately 0.21% of Globant worth $19,186,000 as of its most recent filing with the Securities & Exchange Commission.

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

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on GLOB. Susquehanna initiated coverage on shares of Globant in a research note on Tuesday, December 17th. They issued a “positive” rating and a $255.00 price objective on the stock. Scotiabank increased their price target on Globant from $210.00 to $220.00 and gave the stock a “sector perform” rating in a research report on Tuesday, November 19th. Citigroup boosted their price objective on Globant from $240.00 to $251.00 and gave the company a “buy” rating in a report on Monday, October 28th. TD Cowen raised their target price on Globant from $230.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Finally, Canaccord Genuity Group reissued a “hold” rating and issued a $205.00 price target on shares of Globant in a report on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, Globant has a consensus rating of “Moderate Buy” and a consensus price target of $230.44.

Globant Stock Up 0.2 %

GLOB opened at $216.73 on Friday. Globant S.A. has a twelve month low of $151.68 and a twelve month high of $251.50. The company has a market cap of $9.34 billion, a PE ratio of 56.59, a price-to-earnings-growth ratio of 2.26 and a beta of 1.38. The company has a 50-day moving average price of $220.56 and a 200 day moving average price of $206.41.

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.