Alyeska Investment Group L.P. boosted its holdings in Globant S.A. (NYSE:GLOB - Free Report) by 78.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,954,954 shares of the information technology services provider's stock after purchasing an additional 1,299,353 shares during the period. Alyeska Investment Group L.P. owned approximately 6.74% of Globant worth $85,516,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in the business. BlackRock Inc. bought a new stake in Globant in the second quarter valued at approximately $128,713,000. Pzena Investment Management LLC purchased a new position in shares of Globant in the second quarter worth $111,700,000. Wellington Management Group LLP raised its holdings in Globant by 350.3% during the 2nd quarter. Wellington Management Group LLP now owns 1,706,156 shares of the information technology services provider's stock valued at $49,376,000 after buying an additional 1,327,268 shares during the last quarter. Alliancebernstein L.P. raised its holdings in Globant by 6,875.8% during the 2nd quarter. Alliancebernstein L.P. now owns 929,245 shares of the information technology services provider's stock valued at $84,413,000 after buying an additional 915,924 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its position in Globant by 601.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 783,930 shares of the information technology services provider's stock valued at $44,982,000 after buying an additional 672,175 shares during the period. 91.60% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of equities analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft set a $33.00 price objective on shares of Globant in a research report on Friday, July 10th. Citigroup cut their target price on Globant from $42.00 to $37.00 and set a "neutral" rating on the stock in a research note on Monday, July 27th. The Goldman Sachs Group reduced their price target on Globant from $60.00 to $52.00 and set a "neutral" rating on the stock in a report on Friday, August 14th. Needham & Company LLC lowered their price target on Globant from $50.00 to $45.00 and set a "buy" rating for the company in a research report on Friday, August 14th. Finally, Canaccord Genuity Group set a $35.00 price objective on Globant in a report on Friday, August 14th. Five research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $46.38.
Get Our Latest Stock Report on GLOB
Globant Stock Up 1.0%
Shares of Globant stock opened at $40.58 on Friday. Globant S.A. has a 1 year low of $27.56 and a 1 year high of $72.10. The firm has a market cap of $1.78 billion, a price-to-earnings ratio of 15.91, a PEG ratio of 2.60 and a beta of 1.02. The company has a 50-day moving average of $34.50 and a 200 day 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 - Get Free Report) 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 analysts' expectations of $612.86 million. During the same quarter last year, the company posted $1.53 EPS. Globant's revenue for the quarter 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, sell-side analysts anticipate that Globant S.A. will post 4.65 earnings per share for the current fiscal year.
Globant announced that its Board of Directors has authorized a stock buyback plan on Monday, May 18th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the information technology services provider to reacquire up to 2.9% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's leadership believes its shares are undervalued.
Insider Transactions at Globant
In other Globant news, CTO Diego Tartara sold 6,000 shares of the firm's 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 directly owned 72,320 shares in the company, valued at approximately $2,925,344. This trade represents a 7.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Wanda Weigert sold 6,000 shares of Globant 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 completion of the transaction, the insider directly owned 64,046 shares of the company's stock, valued at $2,590,660.70. This trade represents a 8.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 2.67% of the company's stock.
About Globant
(
Free Report)
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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