Manning & Napier Advisors LLC Lowers Stake in Globant S.A. (NYSE:GLOB)

Manning & Napier Advisors LLC reduced its holdings in shares of Globant S.A. (NYSE:GLOB) by 9.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 owned 1.13% of Globant worth $104,482,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Quarry LP raised its holdings in Globant by 529.6% in the second quarter. Quarry LP now owns 170 shares of the information technology services provider’s stock worth $30,000 after buying an additional 143 shares during the last quarter. 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 acquiring an additional 76 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in shares of Globant in the third quarter worth approximately $40,000. American National Bank & Trust grew its stake in shares of Globant by 430.2% in the third quarter. American National Bank & Trust now owns 228 shares of the information technology services provider’s stock worth $45,000 after acquiring an additional 185 shares during the period. Finally, Signaturefd LLC grew its stake in shares of Globant by 46.0% in the third quarter. Signaturefd LLC now owns 292 shares of the information technology services provider’s stock worth $58,000 after acquiring an additional 92 shares during the period. 91.60% of the stock is owned by hedge funds and other institutional investors.

Globant Price Performance

Shares of Globant stock traded down $3.19 during trading on Wednesday, hitting $205.36. The stock had a trading volume of 26,172 shares, compared to its average volume of 411,227. The firm’s fifty day simple moving average is $218.37 and its 200-day simple moving average is $208.29. Globant S.A. has a 12 month low of $151.68 and a 12 month high of $251.50. The stock has a market cap of $8.85 billion, a PE ratio of 53.76, a PEG ratio of 2.26 and a beta of 1.38.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Scotiabank lifted their price target on shares of Globant from $210.00 to $220.00 and gave the stock a “sector perform” rating in a research note on Tuesday, November 19th. Citigroup boosted their target price on shares of Globant from $240.00 to $251.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Canaccord Genuity Group restated a “hold” rating and set a $205.00 target price on shares of Globant in a research report on Monday, November 18th. Needham & Company LLC restated a “buy” rating and set a $265.00 target price on shares of Globant in a research report on Friday, January 24th. Finally, Susquehanna started coverage on shares of Globant in a research report on Tuesday, December 17th. They set a “positive” rating and a $255.00 target price for the company. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.