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

Globant S.A. (NYSE:GLOB) insider Wanda Weigert sold 6,000 shares of Globant 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 owned 64,046 shares in the company, valued at $2,590,660.70. This trade represents a 8.57% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Globant Stock Performance

GLOB stock opened at $40.58 on Friday. The firm has a 50-day simple moving average of $34.50 and a two-hundred day simple moving average of $40.58. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.84 and a current ratio of 1.84. Globant S.A. has a one year low of $27.56 and a one year high of $72.10. The firm has a market cap of $1.78 billion, a price-to-earnings ratio of 15.91, a PEG ratio of 2.57 and a beta of 1.02.

Globant (NYSE:GLOB) last posted its earnings results 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). The firm had revenue of $614.42 million for the quarter, compared to analysts’ expectations of $612.86 million. Globant had a net margin of 4.63% and a return on equity of 9.28%. The company’s revenue was up .0% on a year-over-year basis. During the same period in the previous year, the company earned $1.53 EPS. 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, equities analysts forecast that Globant S.A. will post 4.65 EPS for the current fiscal year.

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

Wall Street Analysts Forecast Growth

Several brokerages recently commented on GLOB. UBS Group set a $38.00 price objective on shares of Globant in a research report on Friday, August 14th. Deutsche Bank Aktiengesellschaft set a $33.00 target price on Globant in a report on Friday, July 10th. Citigroup dropped their target price on Globant from $42.00 to $37.00 and set a “neutral” rating on the stock in a research report on Monday, July 27th. The Goldman Sachs Group cut their price target on shares of Globant from $60.00 to $52.00 and set a “neutral” rating on the stock in a report on Friday, August 14th. Finally, Truist Financial reduced their price target on shares of Globant from $44.00 to $38.00 and set a “hold” 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $46.38.

Institutional Investors Weigh In On Globant

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Globant in the 1st quarter valued at about $447,000. Goldman Sachs Group Inc. grew its holdings in 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 acquiring an additional 30,386 shares during the period. First Trust Advisors LP raised its position in Globant by 61.9% during 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 acquiring an additional 39,122 shares in the last quarter. Marshall Wace LLP lifted its holdings in Globant by 823.2% in the second 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 during the period. Finally, Amundi boosted its position in Globant by 192.7% in the 2nd quarter. Amundi now owns 7,970 shares of the information technology services provider’s stock worth $727,000 after purchasing an additional 5,247 shares in the last quarter. 91.60% of the stock is owned by institutional investors and hedge funds.

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.