JPMorgan Chase & Co. Sells 30,135 Shares of Globant S.A. $GLOB

JPMorgan Chase & Co. cut its stake in shares of Globant S.A. (NYSE:GLOB) by 2.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,336,556 shares of the information technology services provider’s stock after selling 30,135 shares during the period. JPMorgan Chase & Co. owned 3.04% of Globant worth $76,692,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in the stock. CWM LLC boosted its holdings in shares of Globant by 30.1% in the 2nd quarter. CWM LLC now owns 636 shares of the information technology services provider’s stock valued at $58,000 after buying an additional 147 shares during the last quarter. Baker Avenue Asset Management LP lifted its stake in Globant by 2.0% in the second quarter. Baker Avenue Asset Management LP now owns 8,010 shares of the information technology services provider’s stock valued at $728,000 after acquiring an additional 156 shares during the last quarter. Allworth Financial LP grew 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 acquiring an additional 197 shares during the period. State Board of Administration of Florida Retirement System grew its position in shares of Globant by 0.5% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 39,534 shares of the information technology services provider’s stock valued at $3,591,000 after acquiring an additional 200 shares during the period. Finally, State of Wyoming increased its stake 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 purchasing an additional 343 shares during the last quarter. Institutional investors and hedge funds own 91.60% of the company’s stock.

Globant Trading Down 9.4%

GLOB stock opened at $41.51 on Tuesday. Globant S.A. has a 52 week low of $41.45 and a 52 week high of $161.67. The company has a market capitalization 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. The company’s 50-day simple moving average is $63.06 and its 200 day simple moving average is $62.86. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.93 and a current ratio of 1.93.

Analyst Ratings Changes

Several equities research analysts recently issued reports on GLOB shares. Weiss Ratings reiterated a “sell (d+)” rating on shares of Globant in a research note on Monday, December 29th. JPMorgan Chase & Co. cut their price objective on Globant from $75.00 to $68.00 and set a “neutral” rating for the company in a research report on Wednesday, February 18th. William Blair reissued an “outperform” rating on shares of Globant in a report on Wednesday, December 31st. Canaccord Genuity Group dropped 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. Finally, Jefferies Financial Group cut shares of Globant from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $80.00 to $61.00 in a research report on Thursday, November 20th. Six investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $93.56.

Globant Company 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.