Amundi Lowers Stock Holdings in Globant S.A. $GLOB

Key Points

• Amundi cut its Globant stake by 43.9% in the second quarter, selling 71,580 shares and retaining 91,361 shares valued at approximately $2.64 million. Institutional investors collectively own 91.6% of the company.
• Globant reported quarterly earnings of $1.40 per share, missing the $1.50 analyst consensus, while revenue of $614.42 million slightly exceeded expectations. The company’s year-over-year revenue was essentially flat.
• Analyst sentiment remains cautious, with a consensus “Hold” rating and an average price target of $46.38 versus a recent share price of $37.76. Globant also authorized a $50 million share buyback, while insiders sold 14,500 shares worth $585,400 over the past quarter.

Amundi lessened its position in Globant S.A. (NYSE:GLOB - Free Report) by 43.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 91,361 shares of the information technology services provider's stock after selling 71,580 shares during the quarter. Amundi owned approximately 0.21% of Globant worth $2,644,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Allworth Financial LP increased its stake in Globant by 473.3% during the 4th quarter. Allworth Financial LP now owns 493 shares of the information technology services provider's stock worth $32,000 after buying an additional 407 shares during the period. Larson Financial Group LLC boosted its holdings in Globant by 561.2% in the fourth quarter. Larson Financial Group LLC now owns 681 shares of the information technology services provider's stock valued at $45,000 after purchasing an additional 578 shares during the period. MidFirst Bank acquired a new position in Globant during the 4th quarter worth $47,000. State of Wyoming grew its stake in Globant by 78.9% during the 2nd quarter. State of Wyoming now owns 882 shares of the information technology services provider's stock worth $80,000 after purchasing an additional 389 shares in the last quarter. Finally, Advisors Asset Management Inc. increased its holdings in Globant by 77.4% during the 4th quarter. Advisors Asset Management Inc. now owns 912 shares of the information technology services provider's stock worth $60,000 after purchasing an additional 398 shares during the period. Institutional investors and hedge funds own 91.60% of the company's stock.

Globant Trading Up 0.0%

NYSE GLOB opened at $37.76 on Monday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.84 and a quick ratio of 1.84. The firm's fifty day moving average price is $36.19 and its 200 day moving average price is $39.67. The company has a market capitalization of $1.66 billion, a price-to-earnings ratio of 14.81, a price-to-earnings-growth ratio of 2.44 and a beta of 0.98. Globant S.A. has a 12 month low of $27.56 and a 12 month high of $72.10.

Globant (NYSE:GLOB - Get Free Report) last announced its quarterly earnings results 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 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 analysts' expectations of $612.86 million. During the same period last year, the firm earned $1.53 earnings per share. Globant's revenue 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 expect that Globant S.A. will post 4.61 earnings per share for the current fiscal year.

Globant declared that its board has initiated a share buyback program on Monday, May 18th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the information technology services provider to buy up to 2.9% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's leadership believes its stock is undervalued.

Insiders Place Their Bets

In other news, CRO Fernando Matzkin sold 2,500 shares of the stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $40.00, for a total value of $100,000.00. Following the completion of the sale, the executive directly owned 71,608 shares of the company's stock, valued at approximately $2,864,320. This represents a 3.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Wanda Weigert sold 6,000 shares of the firm's 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 approximately $2,590,660.70. This trade represents a 8.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 14,500 shares of company stock valued at $585,400 over the last quarter. Company insiders own 2.67% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on GLOB shares. Weiss Ratings lowered shares of Globant from a "sell (d+)" rating to a "sell (d)" rating in a research note on Friday, August 14th. Deutsche Bank Aktiengesellschaft set a $33.00 price target on shares of Globant in a research note on Friday, July 10th. Citigroup dropped their price objective on shares of Globant from $42.00 to $37.00 and set a "neutral" rating on the stock in a research report on Monday, July 27th. The Goldman Sachs Group reduced their price objective on shares of Globant from $60.00 to $52.00 and set a "neutral" rating on the stock in a report on Friday, August 14th. Finally, Needham & Company LLC decreased 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. 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. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price 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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