Globant S.A. $GLOB Stock Position Decreased by Swedbank AB

Key Points

• Swedbank AB has reduced its stake in Globant S.A. by 41.9% in Q2, now holding 11,500 shares valued at approximately $1.045 million.
• Various institutional investors have modified their positions, with Brooklyn Investment Group increasing its stake by 194.4% during Q1.
• Globant's recent quarterly earnings report showed an EPS of $1.53, slightly exceeding expectations, with a revenue of $614.18 million.

Swedbank AB cut its stake in shares of Globant S.A. (NYSE:GLOB - Free Report) by 41.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,500 shares of the information technology services provider's stock after selling 8,300 shares during the quarter. Swedbank AB's holdings in Globant were worth $1,045,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Signaturefd LLC raised its holdings in Globant by 29.7% during the first quarter. Signaturefd LLC now owns 389 shares of the information technology services provider's stock valued at $46,000 after buying an additional 89 shares in the last quarter. Blue Trust Inc. grew its position in Globant by 23.6% during the first quarter. Blue Trust Inc. now owns 607 shares of the information technology services provider's stock worth $71,000 after buying an additional 116 shares in the last quarter. Brooklyn Investment Group grew its position in Globant by 194.4% during the first quarter. Brooklyn Investment Group now owns 212 shares of the information technology services provider's stock worth $25,000 after buying an additional 140 shares in the last quarter. Physician Wealth Advisors Inc. boosted its holdings in Globant by 140.9% during the first quarter. Physician Wealth Advisors Inc. now owns 265 shares of the information technology services provider's stock valued at $31,000 after purchasing an additional 155 shares in the last quarter. Finally, State of Wyoming boosted its holdings in Globant by 53.1% during the first quarter. State of Wyoming now owns 493 shares of the information technology services provider's stock valued at $58,000 after purchasing an additional 171 shares in the last quarter. Institutional investors and hedge funds own 91.60% of the company's stock.

Globant Stock Performance

NYSE GLOB opened at $57.50 on Tuesday. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $2.53 billion, a price-to-earnings ratio of 23.37, a P/E/G ratio of 2.51 and a beta of 1.17. The firm's 50 day simple moving average is $72.42 and its 200 day simple moving average is $95.96. Globant S.A. has a 1 year low of $54.36 and a 1 year high of $238.32.

Globant (NYSE:GLOB - Get Free Report) last posted its quarterly earnings results on Thursday, August 14th. The information technology services provider reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.52 by $0.01. Globant had a net margin of 4.44% and a return on equity of 10.76%. The business had revenue of $614.18 million for the quarter, compared to analyst estimates of $612.66 million. During the same quarter last year, the business posted $1.51 EPS. The firm's revenue for the quarter was up 4.5% on a year-over-year basis. Globant has set its Q3 2025 guidance at 1.530- EPS. FY 2025 guidance at 6.120- EPS. As a group, research analysts expect that Globant S.A. will post 5.73 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on GLOB. Canaccord Genuity Group reissued a "hold" rating and issued a $97.00 target price (down from $165.00) on shares of Globant in a report on Thursday, June 26th. Deutsche Bank Aktiengesellschaft began coverage on shares of Globant in a research report on Thursday, July 17th. They set a "hold" rating and a $87.00 target price for the company. The Goldman Sachs Group lowered their price objective on shares of Globant from $120.00 to $105.00 and set a "neutral" rating for the company in a research report on Monday, August 18th. Needham & Company LLC lowered their price objective on shares of Globant from $115.00 to $85.00 and set a "buy" rating for the company in a research report on Friday, August 15th. Finally, JPMorgan Chase & Co. lowered shares of Globant from an "overweight" rating to a "neutral" rating and set a $78.00 target price for the company. in a research note on Friday, August 15th. Eight analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $139.47.

Globant Company Profile

Globant SA, together with its subsidiaries, provides technology services worldwide. It provides digital solutions comprising blockchain, cloud technologies, cybersecurity, data and artificial intelligence, digital experience and performance, code, Internet of Things, metaverse, and engineering and testing; and enterprise technology solutions and services, such as Agile organization, Cultural Hacking, process optimization services, as well as AWS, Google Cloud, Microsoft, Oracle, SalesForce, SAP, and ServiceNow technology solutions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.