Globant (NYSE:GLOB) Insider Sells 6,000 Shares

Globant S.A. (NYSE:GLOB) insider Wanda Weigert sold 6,000 shares of the stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $40.45, for a total transaction of $242,700.00. Following the completion of the sale, the insider owned 64,046 shares of the company’s stock, valued at approximately $2,590,660.70. The trade was a 8.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Globant Stock Performance

GLOB stock traded up $0.41 during trading on Friday, reaching $40.58. 914,043 shares of the stock were exchanged, compared to its average volume of 1,707,297. Globant S.A. has a twelve month low of $27.56 and a twelve month high of $72.10. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $1.78 billion, a P/E ratio of 15.91, a price-to-earnings-growth ratio of 2.49 and a beta of 1.02. The stock has a 50 day simple moving average of $34.31 and a 200-day simple moving average of $40.58.

Globant (NYSE:GLOB) last announced its quarterly earnings data on Thursday, August 13th. The information technology services provider reported $1.40 EPS for the quarter, missing analysts’ consensus estimates of $1.50 by ($0.10). Globant had a return on equity of 9.28% and a net margin of 4.63%.The firm had revenue of $614.42 million during the quarter, compared to the consensus estimate of $612.86 million. During the same quarter in the prior year, the business posted $1.53 EPS. Globant’s revenue was up .0% compared to the same quarter last year. Globant has set its FY 2026 guidance at 5.750-6.150 EPS and its Q3 2026 guidance at 1.430-1.430 EPS. As a group, sell-side analysts anticipate that Globant S.A. will post 4.65 earnings per share for the current year.

Globant declared that its Board of Directors has approved a share repurchase plan on Monday, May 18th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the information technology services provider to purchase up to 2.9% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on GLOB shares. William Blair downgraded shares of Globant from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 30th. Wells Fargo & Company dropped their price objective on shares of Globant from $50.00 to $42.00 and set an “equal weight” rating for the company in a research note on Friday, July 10th. Wedbush downgraded shares of Globant from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $54.00 to $37.00 in a report on Friday, August 14th. JPMorgan Chase & Co. lowered their target price on shares of Globant from $47.00 to $44.00 and set a “neutral” rating on the stock in a research note on Friday, August 14th. Finally, Canaccord Genuity Group set a $35.00 price target on shares of Globant in a research report on Friday, August 14th. Five equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $46.38.

Institutional Investors Weigh In On Globant

A number of large investors have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Globant in the 1st quarter valued at $447,000. Goldman Sachs Group Inc. grew its holdings in shares of Globant by 69.3% during the first quarter. Goldman Sachs Group Inc. now owns 74,237 shares of the information technology services provider’s stock worth $8,739,000 after purchasing an additional 30,386 shares during the last quarter. First Trust Advisors LP increased its stake in shares of Globant by 61.9% in the second quarter. First Trust Advisors LP now owns 102,280 shares of the information technology services provider’s stock valued at $9,291,000 after buying an additional 39,122 shares in the last quarter. Marshall Wace LLP increased its position in Globant by 823.2% in the 2nd quarter. Marshall Wace LLP now owns 105,894 shares of the information technology services provider’s stock valued at $9,619,000 after acquiring an additional 94,424 shares in the last quarter. Finally, Amundi increased its holdings in shares of Globant by 192.7% in the second quarter. Amundi now owns 7,970 shares of the information technology services provider’s stock valued at $727,000 after purchasing an additional 5,247 shares in the last quarter. 91.60% of the stock is currently owned by institutional investors.

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.