101,348 Shares in Globant S.A. $GLOB Bought by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC acquired 101,348 Globant shares worth approximately $2.9 million in the second quarter, giving it a 0.23% stake. Institutional investors and hedge funds collectively own 91.60% of Globant.
• Globant’s latest quarterly results showed $1.40 EPS, below the $1.50 analyst estimate, while revenue of $614.42 million slightly exceeded expectations. The company authorized a $50 million share-repurchase program covering up to 2.9% of outstanding shares.
• Analyst sentiment is cautious: several firms cut price targets, and the stock carries a consensus “Hold” rating with an average target of $46.38. Globant shares recently opened at $40.58, well below their 12-month high of $72.10.

Hsbc Holdings PLC bought a new stake in Globant S.A. (NYSE:GLOB - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 101,348 shares of the information technology services provider's stock, valued at approximately $2,917,000. Hsbc Holdings PLC owned about 0.23% of Globant at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Maxi Investments CY Ltd acquired a new stake in shares of Globant during the 4th quarter worth about $2,255,000. Principal Financial Group Inc. boosted its holdings in Globant by 340.3% in the fourth quarter. Principal Financial Group Inc. now owns 815,703 shares of the information technology services provider's stock valued at $53,323,000 after purchasing an additional 630,440 shares in the last quarter. Citizens Financial Group Inc. RI acquired a new position in Globant in the fourth quarter valued at approximately $5,095,000. Lazard Asset Management LLC increased its stake in Globant by 113.5% in the first quarter. Lazard Asset Management LLC now owns 326,027 shares of the information technology services provider's stock valued at $15,033,000 after purchasing an additional 173,302 shares during the last quarter. Finally, ABN Amro Investment Solutions purchased a new position in Globant in the first quarter valued at approximately $10,146,000. 91.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Globant

In other news, CTO Diego Tartara sold 6,000 shares of the stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $40.45, for a total transaction of $242,700.00. Following the completion of the sale, the chief technology officer owned 72,320 shares in the company, valued at approximately $2,925,344. This represents a 7.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Wanda Weigert sold 6,000 shares of the 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 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 position. The disclosure for this sale is available in the SEC filing. Company insiders own 2.67% of the company's stock.

Globant Price Performance

Shares of NYSE GLOB opened at $40.58 on Friday. The stock has a market cap of $1.78 billion, a P/E ratio of 15.91, a P/E/G ratio of 2.60 and a beta of 1.02. Globant S.A. has a twelve month low of $27.56 and a twelve month high of $72.10. The stock has a 50 day moving average of $34.50 and a two-hundred day moving average of $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 - Get Free Report) last announced its earnings results on Thursday, August 13th. The information technology services provider reported $1.40 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.50 by ($0.10). The business had revenue of $614.42 million for the quarter, compared to analysts' expectations of $612.86 million. Globant had a return on equity of 9.28% and a net margin of 4.63%.The business's revenue was up .0% on a year-over-year basis. During the same quarter last year, the business posted $1.53 earnings per share. 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, research analysts forecast that Globant S.A. will post 4.65 earnings per share for the current year.

Globant announced that its board has authorized a share repurchase program on Monday, May 18th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the information technology services provider to purchase up to 2.9% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's management believes its shares are undervalued.

Analysts Set New Price Targets

GLOB has been the subject of several recent analyst reports. Needham & Company LLC reduced their price objective 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. Wedbush lowered shares of Globant from an "outperform" rating to a "neutral" rating and cut their price target for the stock from $54.00 to $37.00 in a research note on Friday, August 14th. JPMorgan Chase & Co. reduced their price target on shares of Globant from $47.00 to $44.00 and set a "neutral" rating for the company in a research 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 note on Friday, August 14th. Finally, Weiss Ratings lowered Globant from a "sell (d+)" rating to a "sell (d)" rating in a 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 issued a Sell rating to the stock. According to MarketBeat, the company presently has an average 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.

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