Sat Sep 28 17:29:21 UTC 2024: ## Axa S.A. Cuts Stake in Globant While Other Investors Show Interest
**New York, NY (MarketBeat News) -** Axa S.A. reduced its holdings in Globant S.A. (NYSE:GLOB) by 6.2% in the second quarter, according to the company’s latest Form 13F filing. The fund now owns 84,606 shares of the information technology services provider, valued at $15,082,000.
While Axa S.A. decreased its stake, other investors have shown interest in Globant. Accent Capital Management LLC and Ridgewood Investments LLC both purchased new positions in the company’s stock during the fourth quarter and second quarter respectively. BOKF NA significantly increased its position in Globant during the first quarter, while RiverPark Advisors LLC and GAMMA Investing LLC also made new purchases in the first and second quarter respectively.
Globant shares opened at $197.42 on Friday. The company has a market capitalization of $8.51 billion and a P/E ratio of 51.82.
Analysts have varying opinions on Globant’s stock. KeyCorp, Jefferies Financial Group, and Scotiabank have recently raised their target prices, while Piper Sandler reiterated its “overweight” rating and Deutsche Bank Aktiengesellschaft initiated coverage with a “hold” rating. Overall, analysts have a “Moderate Buy” rating on the stock with an average target price of $222.90.
Globant provides technology services worldwide, offering digital solutions and enterprise technology services. The company’s services include blockchain, cloud technologies, cybersecurity, data and artificial intelligence, and more.
This reduction in stake by Axa S.A. comes amid mixed signals from other investors. While some institutional investors are buying into Globant, the overall market outlook remains uncertain. Investors should continue to monitor the company’s performance and industry trends.
First Piper 