4,447,573 Shares in Globant S.A. $GLOB Acquired by BlackRock Inc.

Key Points

• BlackRock acquired 4.45 million Globant shares worth approximately $128.7 million, giving it a 10.15% stake. Institutional investors collectively own 91.6% of the company.
• Analyst sentiment is mixed, with five Buy, eleven Hold, and two Sell ratings; the consensus rating is Hold with a $46.38 price target. Several firms recently cut their price targets.
• Globant missed quarterly EPS expectations, reporting $1.40 versus the $1.50 consensus, while revenue slightly exceeded forecasts at $614.42 million. The company also authorized a $50 million share-repurchase program.

BlackRock Inc. purchased a new stake in shares of Globant S.A. (NYSE:GLOB - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor purchased 4,447,573 shares of the information technology services provider's stock, valued at approximately $128,713,000. BlackRock Inc. owned about 10.15% of Globant at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Allworth Financial LP raised its holdings in Globant by 473.3% in the 4th quarter. Allworth Financial LP now owns 493 shares of the information technology services provider's stock worth $32,000 after purchasing an additional 407 shares during the period. Larson Financial Group LLC boosted its position in Globant by 561.2% during the fourth quarter. Larson Financial Group LLC now owns 681 shares of the information technology services provider's stock worth $45,000 after acquiring an additional 578 shares during the last quarter. MidFirst Bank purchased a new stake in Globant during the 4th quarter valued at about $47,000. Essential Partners LLC purchased a new stake in Globant during the 1st quarter valued at about $55,000. Finally, EverSource Wealth Advisors LLC raised its holdings in Globant by 872.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,274 shares of the information technology services provider's stock valued at $59,000 after acquiring an additional 1,143 shares during the last quarter. 91.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GLOB has been the subject of a number of recent analyst reports. Weiss Ratings cut shares of Globant from a "sell (d+)" rating to a "sell (d)" rating in a research report on Friday, August 14th. Guggenheim dropped their price objective on shares of Globant from $55.00 to $50.00 and set a "buy" rating on the stock in a research report on Friday, August 14th. Wedbush downgraded Globant from an "outperform" rating to a "neutral" rating and decreased their price objective for the company from $54.00 to $37.00 in a report on Friday, August 14th. TD Cowen lowered their price objective on shares of Globant from $47.00 to $45.00 and set a "buy" rating on the stock in a research report on Friday, August 14th. Finally, Wells Fargo & Company decreased their target price on Globant from $50.00 to $42.00 and set an "equal weight" rating on the stock in a research report on Friday, July 10th. Five investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $46.38.

Globant Stock Performance

Shares of NYSE:GLOB opened at $40.58 on Friday. The business's 50-day simple moving average is $34.50 and its 200 day simple moving average is $40.58. The company has a market cap of $1.78 billion, a P/E ratio of 15.91, a PEG ratio of 2.57 and a beta of 1.02. 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 one year low of $27.56 and a one year high of $72.10.

Globant (NYSE:GLOB - Get Free Report) last issued its quarterly earnings results on Thursday, August 13th. The information technology services provider reported $1.40 EPS for the quarter, missing the consensus estimate of $1.50 by ($0.10). Globant had a return on equity of 9.28% and a net margin of 4.63%.The company had revenue of $614.42 million for the quarter, compared to the consensus estimate of $612.86 million. During the same period in the previous year, the business posted $1.53 EPS. The business's revenue for the quarter 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, sell-side analysts forecast that Globant S.A. will post 4.65 earnings per share for the current fiscal year.

Globant declared that its board has approved a stock repurchase plan on Monday, May 18th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the information technology services provider to buy up to 2.9% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's management believes its shares are undervalued.

Insider Buying and Selling at Globant

In other Globant news, insider Wanda Weigert sold 6,000 shares of the stock in a transaction that occurred 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 transaction, the insider owned 64,046 shares in the company, valued at $2,590,660.70. This trade represents a 8.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CTO Diego Tartara sold 6,000 shares of the business's stock in a transaction on 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 directly owned 72,320 shares in the company, valued at $2,925,344. This trade represents a 7.66% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 2.67% of the company's stock.

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.

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