Globant S.A. (NYSE:GLOB) Shares Sold by Citigroup Inc.

Citigroup Inc. cut its stake in shares of Globant S.A. (NYSE:GLOB) by 9.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 53,723 shares of the information technology services provider’s stock after selling 5,543 shares during the quarter. Citigroup Inc.’s holdings in Globant were worth $11,775,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the company. BlackRock Inc. grew its position in shares of Globant by 2.4% during the first quarter. BlackRock Inc. now owns 4,311,632 shares of the information technology services provider’s stock worth $895,139,000 after buying an additional 101,822 shares in the last quarter. Wasatch Advisors Inc. lifted its stake in Globant by 8.6% during the first quarter. Wasatch Advisors Inc. now owns 2,183,014 shares of the information technology services provider’s stock worth $453,215,000 after purchasing an additional 173,664 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Globant by 10.0% during the first quarter. JPMorgan Chase & Co. now owns 1,438,317 shares of the information technology services provider’s stock worth $298,610,000 after purchasing an additional 131,127 shares during the last quarter. Sands Capital Management LLC lifted its stake in Globant by 13.4% during the first quarter. Sands Capital Management LLC now owns 1,171,319 shares of the information technology services provider’s stock worth $243,178,000 after purchasing an additional 138,548 shares during the last quarter. Finally, Capital International Investors lifted its stake in Globant by 11.7% during the first quarter. Capital International Investors now owns 443,031 shares of the information technology services provider’s stock worth $91,978,000 after purchasing an additional 46,500 shares during the last quarter. 85.96% of the stock is owned by institutional investors and hedge funds.

GLOB has been the subject of several recent analyst reports. Cowen boosted their target price on Globant from $260.00 to $290.00 and gave the stock an “outperform” rating in a research note on Friday, August 13th. Piper Sandler boosted their target price on Globant from $280.00 to $300.00 and gave the stock an “overweight” rating in a research note on Friday, August 13th. Jefferies Financial Group boosted their target price on Globant from $290.00 to $371.00 and gave the stock a “buy” rating in a research note on Thursday, August 26th. Zacks Investment Research cut Globant from a “buy” rating to a “hold” rating in a research note on Wednesday, September 8th. Finally, JPMorgan Chase & Co. boosted their price objective on Globant from $284.00 to $340.00 and gave the company an “overweight” rating in a research note on Tuesday, August 17th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, Globant currently has a consensus rating of “Buy” and a consensus price target of $275.00.

Shares of NYSE GLOB opened at $313.12 on Tuesday. Globant S.A. has a twelve month low of $165.50 and a twelve month high of $332.79. The stock has a 50 day moving average of $278.22 and a two-hundred day moving average of $238.73. The stock has a market cap of $12.53 billion, a P/E ratio of 176.90 and a beta of 1.26.

Globant Company Profile

Globant SA engages in the provision of information technology services. It offers application development and maintenance, testing, and infrastructure management. The company was founded by Martín Migoya, Martín Gonzalo Umaran, Guibert Andrés Englebienne, and Néstor Augusto Nocetti in 2003 and is headquartered in Luxembourg.

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Institutional Ownership by Quarter for Globant (NYSE:GLOB)

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