Sands Capital Management LLC Sells 33,159 Shares of Globant S.A. $GLOB

Sands Capital Management LLC decreased its stake in shares of Globant S.A. (NYSE:GLOB) by 3.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 869,376 shares of the information technology services provider’s stock after selling 33,159 shares during the period. Sands Capital Management LLC owned approximately 1.97% of Globant worth $78,974,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Brooklyn Investment Group boosted its position in Globant by 194.4% during the 1st quarter. Brooklyn Investment Group now owns 212 shares of the information technology services provider’s stock valued at $25,000 after acquiring an additional 140 shares in the last quarter. Allworth Financial LP boosted its position in shares of Globant by 214.1% during the second quarter. Allworth Financial LP now owns 289 shares of the information technology services provider’s stock valued at $26,000 after purchasing an additional 197 shares in the last quarter. State of Wyoming grew its stake in Globant by 53.1% in the first quarter. State of Wyoming now owns 493 shares of the information technology services provider’s stock worth $58,000 after purchasing an additional 171 shares during the period. CWM LLC raised its holdings in Globant by 30.1% in the second quarter. CWM LLC now owns 636 shares of the information technology services provider’s stock worth $58,000 after purchasing an additional 147 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in Globant by 33.2% in the second quarter. GAMMA Investing LLC now owns 988 shares of the information technology services provider’s stock worth $90,000 after purchasing an additional 246 shares in the last quarter. Hedge funds and other institutional investors own 91.60% of the company’s stock.

Globant Stock Up 0.4%

GLOB stock opened at $64.85 on Wednesday. The stock has a market capitalization of $2.86 billion, a P/E ratio of 29.34, a P/E/G ratio of 6.09 and a beta of 1.24. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.93 and a quick ratio of 1.93. Globant S.A. has a 1-year low of $54.36 and a 1-year high of $234.78. The business has a fifty day moving average price of $60.28 and a 200-day moving average price of $74.59.

Globant (NYSE:GLOB) last released its quarterly earnings data on Thursday, November 13th. The information technology services provider reported $1.53 EPS for the quarter, missing the consensus estimate of $1.55 by ($0.02). The business had revenue of $617.14 million during the quarter, compared to the consensus estimate of $615.32 million. Globant had a return on equity of 10.39% and a net margin of 4.01%.Globant’s quarterly revenue was up .4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.63 earnings per share. Globant has set its FY 2025 guidance at 6.120- EPS and its Q4 2025 guidance at 1.530- EPS. Equities analysts forecast that Globant S.A. will post 5.73 earnings per share for the current fiscal year.

Globant announced that its Board of Directors has initiated a stock buyback program on Wednesday, October 1st that authorizes the company to repurchase $125.00 million in outstanding shares. This repurchase authorization authorizes the information technology services provider to buy up to 5% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

GLOB has been the topic of a number of research reports. Needham & Company LLC dropped their target price on shares of Globant from $85.00 to $80.00 and set a “buy” rating on the stock in a report on Friday, November 14th. Canaccord Genuity Group dropped their price objective on shares of Globant from $80.00 to $70.00 and set a “hold” rating on the stock in a research note on Friday, November 14th. Citigroup upgraded shares of Globant to a “hold” rating in a report on Thursday, October 23rd. Jefferies Financial Group lowered shares of Globant from a “buy” rating to a “hold” rating and lowered their target price for the company from $80.00 to $61.00 in a report on Thursday, November 20th. Finally, Wells Fargo & Company raised Globant to a “hold” rating in a research report on Wednesday, October 22nd. Five investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $98.67.

Globant Profile

Globant SA, together with its subsidiaries, provides technology services worldwide. It provides digital solutions comprising blockchain, cloud technologies, cybersecurity, data and artificial intelligence, digital experience and performance, code, Internet of Things, metaverse, and engineering and testing; and enterprise technology solutions and services, such as Agile organization, Cultural Hacking, process optimization services, as well as AWS, Google Cloud, Microsoft, Oracle, SalesForce, SAP, and ServiceNow technology solutions.