Globant (NYSE:GLOB) CTO Sells $242,700.00 in Stock

Globant S.A. (NYSE:GLOB) CTO Diego Tartara sold 6,000 shares of Globant stock in a transaction dated Friday, August 28th. The stock was 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 in the company, valued at $2,925,344. This trade represents a 7.66% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Globant Trading Up 0.1%

GLOB opened at $40.58 on Monday. The firm has a market cap 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. Globant S.A. has a 52 week low of $27.56 and a 52 week high of $72.10. The business’s 50 day moving average is $34.50 and its two-hundred day moving average is $40.44. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.19.

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

Globant announced that its Board of Directors has authorized a share buyback program on Monday, May 18th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the information technology services provider to reacquire up to 2.9% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Institutional Trading of Globant

Several hedge funds and other institutional investors have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Globant in the first quarter valued at about $447,000. Goldman Sachs Group Inc. increased its position in Globant by 69.3% during the 1st 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 period. First Trust Advisors LP raised its stake in shares of Globant by 61.9% during the 2nd quarter. First Trust Advisors LP now owns 102,280 shares of the information technology services provider’s stock worth $9,291,000 after buying an additional 39,122 shares in the last quarter. Marshall Wace LLP raised its stake in shares of Globant by 823.2% during the 2nd quarter. Marshall Wace LLP now owns 105,894 shares of the information technology services provider’s stock worth $9,619,000 after buying an additional 94,424 shares in the last quarter. Finally, Amundi lifted its holdings in shares of Globant by 192.7% in the 2nd quarter. Amundi now owns 7,970 shares of the information technology services provider’s stock valued at $727,000 after buying an additional 5,247 shares during the period. Hedge funds and other institutional investors own 91.60% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on GLOB shares. Canaccord Genuity Group set a $35.00 price objective on shares of Globant in a research note on Friday, August 14th. Itau BBA Securities lowered Globant from an “outperform” rating to a “market perform” rating and set a $39.00 price target on the stock. in a report on Wednesday, July 8th. Guggenheim dropped their price target on Globant from $55.00 to $50.00 and set a “buy” rating on the stock in a research report on Friday, August 14th. Truist Financial reduced their price objective on Globant from $44.00 to $38.00 and set a “hold” rating for the company in a research note on Friday, August 14th. Finally, Needham & Company LLC decreased their price objective on Globant from $50.00 to $45.00 and set a “buy” rating for the company in a research report on Friday, August 14th. Five research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $46.38.

About Globant

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.