Insider Selling: Globant (NYSE:GLOB) Insider Sells $242,700.00 in Stock

Globant S.A. (NYSE:GLOB) insider Wanda Weigert sold 6,000 shares of the stock in a transaction on 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 directly owned 64,046 shares of the company’s stock, valued at $2,590,660.70. The trade was a 8.57% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Globant Stock Performance

Shares of GLOB stock opened at $40.58 on Monday. The company’s fifty day simple moving average is $34.50 and its 200-day simple moving average is $40.44. Globant S.A. has a 52 week low of $27.56 and a 52 week high of $72.10. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.19. The company has a market cap of $1.78 billion, a PE ratio of 15.91, a P/E/G ratio of 2.60 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 earnings per share for the quarter, missing the consensus estimate of $1.50 by ($0.10). Globant had a net margin of 4.63% and a return on equity of 9.28%. The business had revenue of $614.42 million for the quarter, compared to analyst estimates of $612.86 million. During the same quarter in the previous year, the firm posted $1.53 EPS. The business’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, equities research analysts anticipate that Globant S.A. will post 4.65 EPS for the current year.

Globant announced that its board has initiated a share repurchase plan on Monday, May 18th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the information technology services provider to reacquire up to 2.9% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Institutional Trading of Globant

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Globant in the 1st quarter worth approximately $447,000. Goldman Sachs Group Inc. grew its stake in 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 buying an additional 30,386 shares during the last quarter. First Trust Advisors LP grew its stake in 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 buying an additional 39,122 shares during the last quarter. Marshall Wace LLP increased its position 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 worth $9,619,000 after buying an additional 94,424 shares during the period. Finally, Amundi increased its position in Globant by 192.7% in the second quarter. Amundi now owns 7,970 shares of the information technology services provider’s stock worth $727,000 after buying an additional 5,247 shares during the period. 91.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GLOB has been the topic of several recent analyst reports. Itau BBA Securities cut Globant from an “outperform” rating to a “market perform” rating and set a $39.00 price target on the stock. in a research note on Wednesday, July 8th. The Goldman Sachs Group dropped their price objective on Globant from $60.00 to $52.00 and set a “neutral” rating on the stock in a report on Friday, August 14th. Truist Financial cut their target price on Globant from $44.00 to $38.00 and set a “hold” rating on the stock in a research report on Friday, August 14th. Susquehanna reduced their target price on Globant from $78.00 to $70.00 and set a “positive” rating for the company in a research note on Friday, August 14th. Finally, Needham & Company LLC decreased their price target on shares of Globant from $50.00 to $45.00 and set a “buy” 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 issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $46.38.

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.