CenterBook Partners LP Buys 76,719 Shares of Globant S.A. $GLOB

Key Points

• CenterBook Partners initiated a position in Globant, buying 76,719 shares worth about $2.66 million, or roughly 0.17% of the company. Hedge funds and other institutions collectively own 91.6% of Globant’s stock.
• Analysts have a consensus “Hold” rating and an average price target of $45.75; five rate the stock Buy, 11 Hold, and two Sell.
• Globant’s latest quarterly EPS of $1.40 missed the $1.50 consensus, while revenue of $614.42 million slightly beat expectations. Revenue was flat year over year.

CenterBook Partners LP bought a new stake in shares of Globant S.A. (NYSE:GLOB - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 76,719 shares of the information technology services provider's stock, valued at approximately $2,662,000. CenterBook Partners LP owned approximately 0.17% of Globant at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GLOB. Pzena Investment Management LLC boosted its holdings in Globant by 27.7% in the third quarter. Pzena Investment Management LLC now owns 4,929,099 shares of the information technology services provider's stock worth $171,040,000 after acquiring an additional 1,069,381 shares in the last quarter. BlackRock Inc. acquired a new position in shares of Globant during the second quarter valued at about $128,713,000. Alyeska Investment Group L.P. increased its holdings in shares of Globant by 78.5% during the second quarter. Alyeska Investment Group L.P. now owns 2,954,954 shares of the information technology services provider's stock valued at $85,516,000 after acquiring an additional 1,299,353 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Globant by 350.3% in 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 purchasing an additional 1,327,268 shares during the last quarter. Finally, Bank of America Corp DE raised its position in shares of Globant by 12.9% in the 1st quarter. Bank of America Corp DE now owns 413,210 shares of the information technology services provider's stock valued at $19,053,000 after purchasing an additional 47,110 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

A number of analysts recently commented on GLOB shares. Canaccord Genuity Group set a $35.00 target price on shares of Globant in a research note on Friday, August 14th. TD Cowen cut their price target on shares of Globant from $47.00 to $45.00 and set a "buy" rating on the stock in a research note on Friday, August 14th. Wells Fargo & Company raised their price target on shares of Globant from $39.00 to $48.00 and gave the stock an "equal weight" rating in a report on Monday, October 26th. Truist Financial lowered their price objective on shares of Globant from $44.00 to $38.00 and set a "hold" rating for the company in a research note on Friday, August 14th. Finally, Wedbush downgraded shares of Globant from an "outperform" rating to a "neutral" rating and lowered their price objective for the stock from $54.00 to $37.00 in a research note 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 company's stock. According to MarketBeat, Globant has a consensus rating of "Hold" and an average target price of $45.75.

Insider Transactions at Globant

In other news, CRO Fernando Matzkin sold 2,500 shares of the company's 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 in the company, valued at $2,864,320. This represents a 3.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Wanda Weigert sold 6,000 shares of the firm's stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $40.45, for a total value of $242,700.00. Following the sale, the insider directly 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 14,500 shares of company stock worth $585,400 over the last quarter. 2.67% of the stock is currently owned by insiders.

Globant Stock Down 3.7%

GLOB stock opened at $47.41 on Friday. The firm's fifty day simple moving average is $39.48 and its 200-day simple moving average is $41.92. The company has a market capitalization of $2.08 billion, a P/E ratio of 18.59, a price-to-earnings-growth ratio of 6.03 and a beta of 0.86. 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 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 issued its earnings results on Thursday, August 13th. The information technology services provider reported $1.40 earnings per share (EPS) for the quarter, missing the consensus estimate 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 company's revenue for the quarter was up .0% on a year-over-year basis. During the same period last year, the business earned $1.53 EPS. 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, equities research analysts forecast that Globant S.A. will post 4.57 earnings per share for the current year.

About Globant

Globant SA is a digitally native technology services company that helps organizations develop, modernize and operate digital products and experiences. Its services include software engineering, cloud computing, data and artificial intelligence, enterprise application modernization, cybersecurity, user experience design, and digital transformation consulting.

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

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