Jennison Associates LLC Has $158.03 Million Stock Position in Globant S.A. (NYSE:GLOB)

Jennison Associates LLC lessened its position in shares of Globant S.A. (NYSE:GLOB) by 2.3% in the third quarter, HoldingsChannel.com reports. The firm owned 797,577 shares of the information technology services provider’s stock after selling 18,429 shares during the quarter. Jennison Associates LLC’s holdings in Globant were worth $158,032,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in GLOB. Vanguard Group Inc. raised its position in shares of Globant by 7.9% in the 1st quarter. Vanguard Group Inc. now owns 112,339 shares of the information technology services provider’s stock worth $22,681,000 after acquiring an additional 8,267 shares in the last quarter. Edgestream Partners L.P. acquired a new position in Globant in the first quarter valued at approximately $577,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Globant during the 1st quarter worth approximately $196,000. PEAK6 Investments LLC acquired a new stake in shares of Globant during the 1st quarter worth approximately $858,000. Finally, GUARDCAP ASSET MANAGEMENT Ltd increased its stake in shares of Globant by 5.7% in the 1st quarter. GUARDCAP ASSET MANAGEMENT Ltd now owns 11,960 shares of the information technology services provider’s stock valued at $2,415,000 after acquiring an additional 650 shares in the last quarter. Institutional investors own 91.60% of the company’s stock.

Analysts Set New Price Targets

GLOB has been the topic of a number of research analyst reports. Jefferies Financial Group increased their price objective on shares of Globant from $235.00 to $240.00 and gave the stock a “buy” rating in a research report on Monday, September 9th. Citigroup lifted their price target on Globant from $240.00 to $251.00 and gave the company a “buy” rating in a research note on Monday, October 28th. KeyCorp increased their price objective on Globant from $220.00 to $235.00 and gave the stock an “overweight” rating in a research note on Friday, August 16th. Piper Sandler cut their target price on Globant from $240.00 to $237.00 and set an “overweight” rating on the stock in a research report on Friday, November 15th. Finally, TD Cowen increased their price target on Globant from $230.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $229.06.

Globant Trading Up 2.2 %

Shares of NYSE GLOB opened at $208.59 on Wednesday. The stock has a fifty day simple moving average of $209.32 and a two-hundred day simple moving average of $191.52. Globant S.A. has a 1-year low of $151.68 and a 1-year high of $251.50. The firm has a market cap of $8.99 billion, a price-to-earnings ratio of 54.46, a price-to-earnings-growth ratio of 2.49 and a beta of 1.39.

About Globant

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.