Granahan Investment Management LLC Sells 134,612 Shares of Globant S.A. $GLOB

Key Points

• Granahan Investment Management LLC has significantly reduced its stake in Globant S.A., selling 134,612 shares and lowering its ownership by 69.0% to a total of 60,368 shares, worth approximately $7.1 million.
• Several other hedge funds have increased their stakes in Globant, with Tower Research Capital raising its ownership by 262.6% in the last quarter, highlighting a trend of growing institutional interest in the company.
• Globant reported earnings of $1.53 per share for the last quarter, exceeding analyst expectations, while also providing guidance for future earnings reflecting confidence in its continued growth.

Granahan Investment Management LLC decreased its position in shares of Globant S.A. (NYSE:GLOB - Free Report) by 69.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 60,368 shares of the information technology services provider's stock after selling 134,612 shares during the quarter. Granahan Investment Management LLC owned approximately 0.14% of Globant worth $7,107,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. BW Gestao de Investimentos Ltda. raised its position in shares of Globant by 55.1% in the 1st quarter. BW Gestao de Investimentos Ltda. now owns 183,200 shares of the information technology services provider's stock worth $21,566,000 after acquiring an additional 65,100 shares in the last quarter. Alyeska Investment Group L.P. grew its stake in shares of Globant by 51.0% in the 1st quarter. Alyeska Investment Group L.P. now owns 420,753 shares of the information technology services provider's stock valued at $49,531,000 after buying an additional 142,048 shares during the period. Royal Bank of Canada grew its stake in shares of Globant by 293.5% in the 1st quarter. Royal Bank of Canada now owns 999,955 shares of the information technology services provider's stock valued at $117,716,000 after buying an additional 745,848 shares during the period. Quarry LP acquired a new stake in shares of Globant in the 1st quarter valued at about $146,000. Finally, Twin Tree Management LP acquired a new stake in shares of Globant in the 1st quarter valued at about $263,000. 91.60% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on GLOB. Needham & Company LLC cut their price target on Globant from $115.00 to $85.00 and set a "buy" rating for the company in a research note on Friday, August 15th. UBS Group cut their target price on Globant from $120.00 to $75.00 and set a "neutral" rating on the stock in a research note on Wednesday, August 20th. JPMorgan Chase & Co. downgraded Globant from an "overweight" rating to a "neutral" rating and set a $78.00 target price on the stock. in a research note on Friday, August 15th. Scotiabank upgraded Globant from a "sector perform" rating to a "sector outperform" rating and set a $115.00 target price on the stock in a research note on Monday, July 21st. Finally, The Goldman Sachs Group cut their target price on Globant from $120.00 to $105.00 and set a "neutral" rating on the stock in a research note on Monday, August 18th. Eight analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $139.47.

Globant Stock Performance

Shares of NYSE:GLOB traded down $2.51 during mid-day trading on Wednesday, reaching $57.47. The company had a trading volume of 673,373 shares, compared to its average volume of 1,173,122. 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 cap of $2.53 billion, a price-to-earnings ratio of 23.39, a PEG ratio of 2.71 and a beta of 1.17. The company's 50-day moving average price is $78.36 and its 200-day moving average price is $102.01. Globant S.A. has a one year low of $57.61 and a one year high of $238.32.

Globant (NYSE:GLOB - Get Free Report) last issued its earnings results on Thursday, August 14th. The information technology services provider reported $1.53 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $612.66 million. During the same quarter in the previous year, the firm posted $1.51 EPS. The business's revenue for the quarter was up 4.5% compared to the same quarter last year. Globant has set its Q3 2025 guidance at 1.530- EPS. FY 2025 guidance at 6.120- EPS. As a group, equities research analysts anticipate that Globant S.A. will post 5.73 EPS for the current fiscal year.

About Globant

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.