JPMorgan Chase & Co. Has $76.69 Million Stock Holdings in Globant S.A. $GLOB

JPMorgan Chase & Co. reduced its stake in shares of Globant S.A. (NYSE:GLOB) by 2.2% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,336,556 shares of the information technology services provider’s stock after selling 30,135 shares during the period. JPMorgan Chase & Co.’s holdings in Globant were worth $76,692,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of GLOB. CWM LLC lifted its position in Globant by 30.1% during the second quarter. CWM LLC now owns 636 shares of the information technology services provider’s stock worth $58,000 after purchasing an additional 147 shares during the period. Baker Avenue Asset Management LP increased its holdings in Globant by 2.0% in the 2nd quarter. Baker Avenue Asset Management LP now owns 8,010 shares of the information technology services provider’s stock valued at $728,000 after buying an additional 156 shares during the period. Allworth Financial LP raised its position in shares of Globant by 214.1% in the 2nd quarter. Allworth Financial LP now owns 289 shares of the information technology services provider’s stock valued at $26,000 after buying an additional 197 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its holdings in shares of Globant by 0.5% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 39,534 shares of the information technology services provider’s stock worth $3,591,000 after acquiring an additional 200 shares during the period. Finally, State of Wyoming lifted its holdings in shares of Globant by 38.9% during the 3rd quarter. State of Wyoming now owns 1,225 shares of the information technology services provider’s stock worth $70,000 after acquiring an additional 343 shares during the period. Institutional investors own 91.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on GLOB shares. Truist Financial initiated coverage on shares of Globant in a research report on Tuesday, January 6th. They set a “hold” rating and a $72.00 price objective for the company. Canaccord Genuity Group decreased their price target on Globant from $80.00 to $70.00 and set a “hold” rating on the stock in a research note on Friday, November 14th. Weiss Ratings restated a “sell (d+)” rating on shares of Globant in a research report on Monday, December 29th. JPMorgan Chase & Co. decreased their target price on Globant from $75.00 to $68.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 18th. Finally, Needham & Company LLC dropped their target price on shares of Globant from $85.00 to $80.00 and set a “buy” rating for the company in a report on Friday, November 14th. Six investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $93.56.

Globant Stock Down 9.4%

Shares of NYSE GLOB opened at $41.51 on Tuesday. The company has a 50 day simple moving average of $63.06 and a 200 day simple moving average of $62.86. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.93 and a quick ratio of 1.93. Globant S.A. has a 1 year low of $41.45 and a 1 year high of $161.67. The firm has a market cap of $1.83 billion, a PE ratio of 18.78, a price-to-earnings-growth ratio of 5.02 and a beta of 1.19.

Globant Profile

Globant is a digitally native technology services company founded in 2003 in Buenos Aires, Argentina. Specializing in software development and digital transformation, Globant partners with enterprises to conceive, design and engineer software products and platforms. The company leverages agile methodologies and proprietary delivery frameworks to accelerate projects in areas such as cloud migration, user experience design, data analytics, artificial intelligence and blockchain-enabled solutions.

Globant’s service offerings span strategy consulting, custom software engineering, digital experience design and managed services.