The Manufacturers Life Insurance Company Takes $8.84 Million Position in Globant S.A. $GLOB

The Manufacturers Life Insurance Company bought a new position in shares of Globant S.A. (NYSE:GLOB) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 305,287 shares of the information technology services provider’s stock, valued at approximately $8,835,000.

Several other institutional investors have also modified their holdings of GLOB. Allworth Financial LP raised its holdings in shares of Globant by 473.3% during the fourth quarter. Allworth Financial LP now owns 493 shares of the information technology services provider’s stock valued at $32,000 after acquiring an additional 407 shares during the last quarter. Larson Financial Group LLC boosted its stake in Globant by 561.2% during the fourth quarter. Larson Financial Group LLC now owns 681 shares of the information technology services provider’s stock worth $45,000 after buying an additional 578 shares during the period. MidFirst Bank purchased a new stake in Globant in the fourth quarter valued at approximately $47,000. State of Wyoming boosted its stake in shares of Globant by 78.9% in the second quarter. State of Wyoming now owns 882 shares of the information technology services provider’s stock valued at $80,000 after purchasing an additional 389 shares during the period. Finally, Advisors Asset Management Inc. boosted its holdings in Globant by 77.4% in the fourth quarter. Advisors Asset Management Inc. now owns 912 shares of the information technology services provider’s stock valued at $60,000 after purchasing an additional 398 shares during the period. Institutional investors and hedge funds own 91.60% of the company’s stock.

Globant Stock Performance

Shares of GLOB stock opened at $40.58 on Friday. Globant S.A. has a one year low of $27.56 and a one year high of $72.10. The firm has a market capitalization of $1.78 billion, a price-to-earnings ratio of 15.91, a price-to-earnings-growth ratio of 2.60 and a beta of 1.02. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.84 and a current ratio of 1.84. The company has a 50 day moving average price of $34.50 and a 200 day moving average price of $40.58.

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

Globant announced that its Board of Directors has authorized a stock buyback 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 repurchase up to 2.9% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

GLOB has been the topic of a number of analyst reports. Truist Financial reduced their price objective on shares of Globant from $44.00 to $38.00 and set a “hold” rating on the stock in a report on Friday, August 14th. Wedbush cut Globant from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $54.00 to $37.00 in a research note on Friday, August 14th. Canaccord Genuity Group set a $35.00 price objective on Globant in a research report on Friday, August 14th. William Blair cut Globant from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 30th. Finally, Wells Fargo & Company decreased their price target on Globant from $50.00 to $42.00 and set an “equal weight” rating on the stock in a research note on Friday, July 10th. Five equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $46.38.

Insider Activity

In other Globant news, insider Wanda Weigert sold 6,000 shares of the company’s stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $40.45, for a total value of $242,700.00. Following the completion of the transaction, the insider directly owned 64,046 shares of the company’s stock, valued at $2,590,660.70. This represents a 8.57% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CTO Diego Tartara sold 6,000 shares of the firm’s stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $40.45, for a total value of $242,700.00. Following the sale, the chief technology officer owned 72,320 shares of the company’s stock, valued at approximately $2,925,344. This trade represents a 7.66% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 2.67% of the company’s stock.

Globant 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.