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

Globant S.A. (NYSE:GLOB) CTO Diego Tartara sold 6,000 shares of the company’s stock in a transaction that occurred 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 completion of the sale, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Globant Price Performance

NYSE GLOB traded up $0.41 on Friday, reaching $40.58. 914,043 shares of the company’s stock traded hands, compared to its average volume of 1,707,297. The stock has a market cap of $1.78 billion, a PE ratio of 15.91, a P/E/G ratio of 2.49 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 has a 50-day simple moving average of $34.31 and a 200 day simple moving average of $40.58. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.84 and a quick ratio of 1.84.

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

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

Wall Street Analyst Weigh In

GLOB has been the subject of several analyst reports. TD Cowen cut their price target on shares of Globant from $47.00 to $45.00 and set a “buy” rating for the company in a research report on Friday, August 14th. JPMorgan Chase & Co. decreased their price objective on Globant from $47.00 to $44.00 and set a “neutral” rating on the stock in a report on Friday, August 14th. Guggenheim lowered their target price on Globant from $55.00 to $50.00 and set a “buy” rating for the company in a research note on Friday, August 14th. Citigroup dropped their target price on Globant from $42.00 to $37.00 and set a “neutral” rating for the company in a report on Monday, July 27th. Finally, Needham & Company LLC reduced their price target on Globant from $50.00 to $45.00 and set a “buy” rating on the stock in a research report on Friday, August 14th. Five equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Globant currently has a consensus rating of “Hold” and a consensus price target of $46.38.

Institutional Trading of Globant

A number of institutional investors have recently modified their holdings of the company. BlackRock Inc. bought a new stake in shares of Globant in the second quarter worth about $128,713,000. Pzena Investment Management LLC bought a new position in Globant during the 2nd quarter valued at approximately $111,700,000. Alyeska Investment Group L.P. lifted its holdings in Globant by 78.5% in the 2nd quarter. Alyeska Investment Group L.P. now owns 2,954,954 shares of the information technology services provider’s stock worth $85,516,000 after buying an additional 1,299,353 shares during the period. Brandes Investment Partners LP lifted its holdings in Globant by 4.0% in the 4th quarter. Brandes Investment Partners LP now owns 2,400,732 shares of the information technology services provider’s stock worth $156,936,000 after buying an additional 91,732 shares during the period. Finally, Capital International Investors lifted its holdings in Globant by 10.6% in the 4th quarter. Capital International Investors now owns 2,283,802 shares of the information technology services provider’s stock worth $149,292,000 after buying an additional 218,570 shares during the period. 91.60% of the stock is currently owned by hedge funds and other institutional investors.

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.