Envestnet Asset Management Inc. Has $8.20 Million Stock Holdings in Globant S.A. $GLOB

Envestnet Asset Management Inc. decreased its holdings in Globant S.A. (NYSE:GLOB) by 29.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 142,898 shares of the information technology services provider’s stock after selling 59,890 shares during the period. Envestnet Asset Management Inc.’s holdings in Globant were worth $8,199,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of GLOB. Invesco Ltd. boosted its stake in Globant by 199.1% in the second quarter. Invesco Ltd. now owns 2,827,155 shares of the information technology services provider’s stock valued at $256,819,000 after buying an additional 1,881,940 shares in the last quarter. ARGA Investment Management LP boosted its stake in shares of Globant by 14,073.7% in the 3rd quarter. ARGA Investment Management LP now owns 2,057,594 shares of the information technology services provider’s stock valued at $118,065,000 after purchasing an additional 2,043,077 shares in the last quarter. Westfield Capital Management Co. LP grew its holdings in shares of Globant by 34.1% during the 2nd quarter. Westfield Capital Management Co. LP now owns 1,100,526 shares of the information technology services provider’s stock valued at $99,972,000 after purchasing an additional 280,081 shares during the last quarter. Schroder Investment Management Group increased its position in Globant by 20.1% during the 2nd quarter. Schroder Investment Management Group now owns 1,006,175 shares of the information technology services provider’s stock worth $91,401,000 after purchasing an additional 168,700 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its stake in Globant by 6,875.8% in the 2nd quarter. Alliancebernstein L.P. now owns 929,245 shares of the information technology services provider’s stock valued at $84,413,000 after purchasing an additional 915,924 shares during the last quarter. 91.60% of the stock is currently owned by institutional investors.

Globant Stock Down 7.6%

Globant stock opened at $45.71 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.93 and a current ratio of 1.93. Globant S.A. has a 52-week low of $44.51 and a 52-week high of $218.15. The firm has a 50 day moving average price of $64.01 and a two-hundred day moving average price of $63.59. The firm has a market cap of $2.01 billion, a price-to-earnings ratio of 20.68, a PEG ratio of 5.42 and a beta of 1.19.

Analyst Ratings Changes

Several research analysts have recently issued reports on GLOB shares. Truist Financial started coverage on shares of Globant in a report on Tuesday, January 6th. They set a “hold” rating and a $72.00 price target for the company. Needham & Company LLC reduced their price objective on Globant from $85.00 to $80.00 and set a “buy” rating on the stock in a research report on Friday, November 14th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Globant in a research report on Monday, December 29th. Jefferies Financial Group cut Globant from a “buy” rating to a “hold” rating and reduced their price target for the stock from $80.00 to $61.00 in a report on Thursday, November 20th. Finally, Canaccord Genuity Group lowered their price objective on Globant from $80.00 to $70.00 and set a “hold” rating for the company in a research note on Friday, November 14th. Six analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Globant has an average rating of “Hold” and a consensus target price of $97.31.

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.