Globant S.A. $GLOB Shares Sold by Riverbridge Partners LLC

Riverbridge Partners LLC decreased its position in Globant S.A. (NYSE:GLOB) by 8.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 705,077 shares of the information technology services provider’s stock after selling 64,738 shares during the quarter. Riverbridge Partners LLC’s holdings in Globant were worth $24,466,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of GLOB. M&G PLC raised its stake in shares of Globant by 19.5% during the third quarter. M&G PLC now owns 615,323 shares of the information technology services provider’s stock valued at $21,536,000 after acquiring an additional 100,502 shares during the last quarter. CenterBook Partners LP purchased a new stake in shares of Globant during the third quarter worth about $2,662,000. Chicago Partners Investment Group LLC bought a new stake in shares of Globant in the third quarter worth about $202,000. Covestor Ltd grew its stake in shares of Globant by 73.5% in the third quarter. Covestor Ltd now owns 2,433 shares of the information technology services provider’s stock worth $84,000 after purchasing an additional 1,031 shares during the last quarter. Finally, Pzena Investment Management LLC grew its stake in shares of Globant by 27.7% in the third quarter. Pzena Investment Management LLC now owns 4,929,099 shares of the information technology services provider’s stock worth $171,040,000 after purchasing an additional 1,069,381 shares during the last quarter. Hedge funds and other institutional investors own 91.60% of the company’s stock.

Insider Activity at Globant

In other Globant news, CTO Diego Tartara sold 6,000 shares of the firm’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 sale, the chief technology officer directly owned 72,320 shares in the company, valued at $2,925,344. This trade represents a 7.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Wanda Weigert sold 6,000 shares of the firm’s stock in a transaction dated Friday, August 28th. The stock was 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 $2,590,660.70. This trade represents a 8.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 14,500 shares of company stock worth $585,400 over the last 90 days. 2.67% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on GLOB shares. TD Cowen reduced their price target on Globant from $47.00 to $45.00 and set a “buy” rating on the stock in a report on Friday, August 14th. Guggenheim cut Globant from a “buy” rating to a “neutral” rating in a report on Wednesday. Wedbush cut Globant from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $54.00 to $37.00 in a report on Friday, August 14th. Truist Financial cut their price objective on Globant from $44.00 to $38.00 and set a “hold” rating on the stock in a research report on Friday, August 14th. Finally, Mizuho reduced their target price on Globant from $59.00 to $51.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 6th. Four investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Globant presently has an average rating of “Hold” and a consensus target price of $45.75.

Globant Stock Up 2.6%

Shares of Globant stock opened at $48.64 on Wednesday. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.19. Globant S.A. has a 12-month low of $27.56 and a 12-month high of $72.10. The company has a market cap of $2.13 billion, a P/E ratio of 19.07, a PEG ratio of 6.03 and a beta of 0.86. The company’s fifty day simple moving average is $39.77 and its two-hundred day simple moving average is $41.72.

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 the consensus estimate of $1.50 by ($0.10). Globant had a return on equity of 9.28% and a net margin of 4.63%. The company had revenue of $614.42 million during the quarter, compared to analysts’ expectations of $612.86 million. During the same period in the prior year, the business posted $1.53 earnings per share. The company’s revenue for the quarter 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. Research analysts anticipate that Globant S.A. will post 4.57 EPS for the current year.

Globant Company Profile

Globant is a technology services company that helps businesses design, build and manage digital products and platforms. Its offerings include software and product engineering, digital experience design, cloud services, data and artificial intelligence solutions, and technology consulting. Founded in Argentina in 2003, Globant serves clients across multiple industries and operates in markets around the world. The company organizes much of its work through specialized “Studios” focused on areas such as digital transformation and emerging technologies.