Empowered Funds LLC Acquires New Stake in Globant S.A. $GLOB

Key Points

• Empowered Funds LLC acquired 69,438 Globant shares during the second quarter, worth approximately $2.01 million. Other major institutions, including BlackRock and Pzena Investment Management, also initiated positions, while institutional investors collectively own 91.6% of the company.
• Analyst sentiment remains mixed, with Globant receiving an overall “Hold” consensus rating and an average price target of $46.38. Recent targets ranged from $35 to $50, including downgrades and price-target reductions from several firms.
• Globant shares opened at $40.29 after rising 3.6%, but the company recently missed quarterly EPS estimates while slightly exceeding revenue expectations. The board has also authorized a $50 million share-repurchase program covering up to 2.9% of outstanding shares.

Empowered Funds LLC acquired a new stake in Globant S.A. (NYSE:GLOB - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 69,438 shares of the information technology services provider's stock, valued at approximately $2,010,000. Empowered Funds LLC owned 0.16% of Globant as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in shares of Globant in the second quarter valued at about $128,713,000. Pzena Investment Management LLC purchased a new position in Globant during the second quarter worth about $111,700,000. Brandes Investment Partners LP raised its holdings in Globant by 4.0% during the fourth quarter. Brandes Investment Partners LP now owns 2,400,732 shares of the information technology services provider's stock worth $156,936,000 after purchasing an additional 91,732 shares in the last quarter. Capital International Investors lifted its position in Globant by 10.6% in the fourth quarter. Capital International Investors now owns 2,283,802 shares of the information technology services provider's stock valued at $149,292,000 after purchasing an additional 218,570 shares during the period. Finally, Royal Bank of Canada boosted its holdings in Globant by 8.5% in the 4th quarter. Royal Bank of Canada now owns 1,777,710 shares of the information technology services provider's stock valued at $116,209,000 after purchasing an additional 138,596 shares in the last quarter. Hedge funds and other institutional investors own 91.60% of the company's stock.

Analysts Set New Price Targets

GLOB has been the topic of several recent analyst reports. Canaccord Genuity Group set a $35.00 target price on Globant in a research report on Friday, August 14th. William Blair downgraded Globant from an "outperform" rating to a "market perform" rating in a research note on Tuesday, June 30th. UBS Group set a $38.00 price objective on Globant in a report on Friday, August 14th. Truist Financial cut their price objective on Globant from $44.00 to $38.00 and set a "hold" rating for the company in a research report on Friday, August 14th. Finally, Guggenheim reduced their target price on Globant from $55.00 to $50.00 and set a "buy" rating for the company in a report on Friday, August 14th. Five equities research 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. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $46.38.

Insider Buying and Selling

In other Globant news, CRO Fernando Matzkin sold 2,500 shares of the business's stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $40.00, for a total transaction of $100,000.00. Following the sale, the executive directly owned 71,608 shares in the company, valued at approximately $2,864,320. The trade was a 3.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Wanda Weigert sold 6,000 shares of the business's stock in a transaction on 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 owned 64,046 shares in the company, valued at approximately $2,590,660.70. The trade was a 8.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 14,500 shares of company stock valued at $585,400. 2.67% of the stock is owned by insiders.

Globant Trading Up 3.6%

Shares of GLOB opened at $40.29 on Friday. Globant S.A. has a twelve month low of $27.56 and a twelve month high of $72.10. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $1.77 billion, a P/E ratio of 15.80, a PEG ratio of 2.51 and a beta of 0.98. The firm's 50-day moving average is $35.37 and its two-hundred day moving average is $40.05.

Globant (NYSE:GLOB - Get Free Report) last posted its quarterly earnings results on Thursday, August 13th. The information technology services provider reported $1.40 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.50 by ($0.10). The company had revenue of $614.42 million for the quarter, compared to analyst estimates of $612.86 million. Globant had a net margin of 4.63% and a return on equity of 9.28%. Globant's revenue was up .0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.53 earnings per share. 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, research analysts predict that Globant S.A. will post 4.61 earnings per share for the current fiscal year.

Globant announced that its board has approved a stock repurchase program on Monday, May 18th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the information technology services provider to repurchase up to 2.9% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's leadership believes its shares are undervalued.

Globant 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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