Globant (NYSE:GLOB) CTO Diego Tartara Sells 6,000 Shares of Stock

Globant S.A. (NYSE:GLOB) CTO Diego Tartara sold 6,000 shares of the firm’s stock in a transaction on Friday, August 28th. The stock was sold at an average price of $40.45, for a total value of $242,700.00. Following the transaction, the chief technology officer directly owned 72,320 shares of the company’s stock, valued at approximately $2,925,344. This represents a 7.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Globant Stock Up 1.0%

Shares of GLOB opened at $40.58 on Friday. The company has a market capitalization of $1.78 billion, a PE ratio of 15.91, a PEG ratio of 2.57 and a beta of 1.02. Globant S.A. has a 12 month low of $27.56 and a 12 month high of $72.10. The stock’s 50-day moving average price is $34.50 and its two-hundred day moving average price is $40.58. 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 (NYSE:GLOB) last released its quarterly 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). Globant had a net margin of 4.63% and a return on equity of 9.28%. The company had revenue of $614.42 million during the quarter, compared to the consensus estimate of $612.86 million. During the same quarter last year, the firm posted $1.53 EPS. The company’s quarterly 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. On average, analysts anticipate that Globant S.A. will post 4.65 EPS for the current year.

Globant announced that its Board of Directors has approved a stock buyback plan on Monday, May 18th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the information technology services provider to purchase up to 2.9% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of GLOB. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Globant in the first quarter valued at $447,000. Goldman Sachs Group Inc. boosted its position in shares of 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 in the last quarter. First Trust Advisors LP boosted its position 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 purchasing an additional 39,122 shares in the last quarter. Marshall Wace LLP grew its stake in shares of Globant by 823.2% in the 2nd quarter. Marshall Wace LLP now owns 105,894 shares of the information technology services provider’s stock valued at $9,619,000 after buying an additional 94,424 shares during the period. Finally, Amundi grew its stake 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. 91.60% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on GLOB shares. UBS Group set a $38.00 price target on shares of Globant in a report on Friday, August 14th. The Goldman Sachs Group decreased their price objective on shares of Globant from $60.00 to $52.00 and set a “neutral” rating for the company in a research report on Friday, August 14th. William Blair downgraded shares of Globant from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 30th. Truist Financial dropped their target price 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. Finally, JPMorgan Chase & Co. cut their price target on shares of Globant from $47.00 to $44.00 and set a “neutral” rating on the stock in a research report on Friday, August 14th. Five investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $46.38.

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.