Westfield Capital Management Co. LP Sells 172,276 Shares of Globant S.A. (NYSE:GLOB)

Westfield Capital Management Co. LP cut its stake in shares of Globant S.A. (NYSE:GLOB) by 29.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 403,847 shares of the information technology services provider’s stock after selling 172,276 shares during the quarter. Westfield Capital Management Co. LP owned about 0.94% of Globant worth $80,018,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Quarry LP increased its stake in Globant by 529.6% during the 2nd quarter. Quarry LP now owns 170 shares of the information technology services provider’s stock valued at $30,000 after purchasing an additional 143 shares in the last quarter. Ridgewood Investments LLC purchased a new stake in shares of Globant during the second quarter valued at approximately $31,000. BOKF NA increased its position in shares of Globant by 15,800.0% during the first quarter. BOKF NA now owns 159 shares of the information technology services provider’s stock valued at $32,000 after acquiring an additional 158 shares in the last quarter. ORG Partners LLC raised its holdings in Globant by 65.5% in the 3rd 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 last quarter. Finally, American National Bank & Trust lifted its position in Globant by 430.2% in the 3rd quarter. American National Bank & Trust now owns 228 shares of the information technology services provider’s stock valued at $45,000 after acquiring an additional 185 shares in the last quarter. Hedge funds and other institutional investors own 91.60% of the company’s stock.

Globant Stock Performance

Shares of Globant stock opened at $229.25 on Friday. Globant S.A. has a fifty-two week low of $151.68 and a fifty-two week high of $251.50. The company has a market capitalization of $9.88 billion, a P/E ratio of 59.86, a P/E/G ratio of 2.72 and a beta of 1.39. The company has a fifty day moving average of $210.75 and a 200 day moving average of $192.16.

Analysts Set New Price Targets

Several research firms have recently weighed in on GLOB. UBS Group restated a “neutral” rating and issued a $235.00 price target (up previously from $225.00) on shares of Globant in a research note on Tuesday, August 20th. Canaccord Genuity Group reissued a “hold” rating and issued a $205.00 target price on shares of Globant in a research report on Monday, November 18th. KeyCorp upped their target price on shares of Globant from $220.00 to $235.00 and gave the company an “overweight” rating in a research note on Friday, August 16th. Citigroup lifted their price target on shares of Globant from $240.00 to $251.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Finally, JPMorgan Chase & Co. increased their price objective 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. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $229.06.

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.