Citigroup Inc. Has $2.30 Million Stake in Globant S.A. (NYSE:GLOB)

Citigroup Inc. reduced its stake in shares of Globant S.A. (NYSE:GLOB – Get Rating) by 16.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 13,675 shares of the information technology services provider’s stock after selling 2,626 shares during the period. Citigroup Inc.’s holdings in Globant were worth $2,300,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. IFP Advisors Inc increased its position in Globant by 1,068.8% in the 3rd quarter. IFP Advisors Inc now owns 187 shares of the information technology services provider’s stock valued at $26,000 after buying an additional 171 shares in the last quarter. Belpointe Asset Management LLC bought a new stake in Globant in the 4th quarter valued at about $40,000. Advisors Asset Management Inc. bought a new stake in Globant in the 1st quarter valued at about $72,000. Huntington National Bank increased its position in Globant by 60.0% in the 3rd quarter. Huntington National Bank now owns 416 shares of the information technology services provider’s stock valued at $78,000 after buying an additional 156 shares in the last quarter. Finally, Loomis Sayles & Co. L P boosted its stake in Globant by 22.2% during the 1st quarter. Loomis Sayles & Co. L P now owns 468 shares of the information technology services provider’s stock valued at $123,000 after purchasing an additional 85 shares during the last quarter. 93.01% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on GLOB shares. Needham & Company LLC started coverage on Globant in a research note on Wednesday, April 12th. They set a “buy” rating and a $205.00 price target for the company. JPMorgan Chase & Co. cut their target price on Globant from $224.00 to $221.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 14th. Cowen cut their target price on Globant from $207.00 to $192.00 in a research note on Friday, February 17th. HSBC began coverage on Globant in a research note on Thursday, February 2nd. They issued a “buy” rating and a $240.00 target price on the stock. Finally, KeyCorp lowered their price target on shares of Globant from $211.00 to $201.00 in a report on Friday, May 19th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, Globant presently has an average rating of “Moderate Buy” and an average price target of $216.44.

Globant Trading Down 0.9 %

Globant stock opened at $170.28 on Thursday. The firm has a 50-day moving average of $153.33 and a 200-day moving average of $164.07. The firm has a market cap of $7.23 billion, a P/E ratio of 49.21 and a beta of 1.41. Globant S.A. has a 1-year low of $135.40 and a 1-year high of $240.00.

Globant Company Profile

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