375,883 Shares in Globant S.A. $GLOB Bought by Bank of America Corp DE

Key Points

• Bank of America acquired 375,883 Globant shares worth approximately $10.9 million in the second quarter, giving it an estimated 0.86% stake. Institutional investors collectively own 91.6% of the company.
• Globant’s latest quarterly results missed earnings expectations, reporting $1.40 EPS versus the $1.50 consensus estimate, while revenue of $614.4 million slightly exceeded forecasts. The company maintained fiscal 2026 EPS guidance of $5.75 to $6.15.
• Analyst sentiment remains cautious, with the stock carrying a consensus “Hold” rating and an average price target of $46.38. Meanwhile, insiders sold 14,500 shares worth about $585,400 over the past 90 days.

Bank of America Corp DE acquired a new stake in Globant S.A. (NYSE:GLOB - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 375,883 shares of the information technology services provider's stock, valued at approximately $10,878,000. Bank of America Corp DE owned about 0.86% of Globant as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. BlackRock Inc. bought a new position in shares of Globant in the 2nd quarter worth $128,713,000. Pzena Investment Management LLC acquired a new position in Globant in the second quarter valued at about $111,700,000. Brandes Investment Partners LP lifted its stake in Globant by 4.0% in the fourth quarter. Brandes Investment Partners LP now owns 2,400,732 shares of the information technology services provider's stock valued at $156,936,000 after buying an additional 91,732 shares during the period. Capital International Investors boosted its holdings in Globant by 10.6% during the fourth 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 last quarter. Finally, Brown Advisory Inc. bought a new position in Globant during the fourth quarter worth about $23,050,000. Institutional investors and hedge funds own 91.60% of the company's stock.

Insiders Place Their Bets

In other Globant news, CRO Fernando Matzkin sold 2,500 shares of Globant stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $40.00, for a total value of $100,000.00. Following the sale, the executive owned 71,608 shares of the company's stock, valued at $2,864,320. This trade represents a 3.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CTO Diego Tartara sold 6,000 shares of the business's stock in a transaction dated Friday, August 28th. The shares were 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 owned 72,320 shares in the company, valued at approximately $2,925,344. This trade represents a 7.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 14,500 shares of company stock worth $585,400. Corporate insiders own 2.67% of the company's stock.

Globant Stock Performance

Shares of GLOB stock opened at $34.53 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.84 and a current ratio of 1.84. Globant S.A. has a 52 week low of $27.56 and a 52 week high of $72.10. The company's 50 day moving average price is $37.26 and its two-hundred day moving average price is $38.89. The company has a market capitalization of $1.51 billion, a P/E ratio of 13.54, a price-to-earnings-growth ratio of 2.23 and a beta of 0.98.

Globant (NYSE:GLOB - Get Free Report) last released its quarterly 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 company had revenue of $614.42 million during the quarter, compared to analyst estimates of $612.86 million. During the same quarter last year, the company earned $1.53 EPS. The firm's quarterly 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. On average, analysts expect that Globant S.A. will post 4.58 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently commented on GLOB shares. JPMorgan Chase & Co. lowered their price target on Globant from $47.00 to $44.00 and set a "neutral" rating for the company in a research note on Friday, August 14th. William Blair lowered shares of Globant from an "outperform" rating to a "market perform" rating in a research note on Tuesday, June 30th. Itau BBA Securities cut shares of Globant from an "outperform" rating to a "market perform" rating and set a $39.00 price objective for the company. in a report on Wednesday, July 8th. Canaccord Genuity Group set a $35.00 target price on shares of Globant in a research note on Friday, August 14th. Finally, TD Cowen cut their target price on shares of Globant from $47.00 to $45.00 and set a "buy" rating on the stock in a report on Friday, August 14th. Five analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $46.38.

About Globant

Globant SA is a digitally native technology services company that helps organizations develop software, modernize technology platforms and pursue digital transformation initiatives. Its services include product engineering, cloud and infrastructure solutions, data and artificial intelligence, enterprise applications, user experience design, and technology consulting.

The company serves clients across industries such as financial services, healthcare, media and entertainment, retail, travel, and consumer products.

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