Globant S.A. $GLOB Shares Sold by Northwest & Ethical Investments L.P.

Key Points

• Northwest & Ethical Investments L.P. significantly reduced its stake in Globant S.A. by 74.2%, selling 5,534 shares and leaving it with 1,923 shares valued at $226,000.
• Despite the reduction in shares from some investors, other institutions, such as Victory Capital Management and Invesco Ltd., have increased their stakes in Globant by significant percentages, reflecting ongoing interest in the company.
• Globant's latest quarterly earnings surpassed expectations with an earnings per share of $1.53, beating estimates and showing a 4.5% revenue growth compared to the same quarter last year.

Northwest & Ethical Investments L.P. lowered its holdings in shares of Globant S.A. (NYSE:GLOB - Free Report) by 74.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,923 shares of the information technology services provider's stock after selling 5,534 shares during the period. Northwest & Ethical Investments L.P.'s holdings in Globant were worth $226,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Physician Wealth Advisors Inc. boosted its stake in Globant by 140.9% during the 1st quarter. Physician Wealth Advisors Inc. now owns 265 shares of the information technology services provider's stock worth $31,000 after purchasing an additional 155 shares during the period. Bessemer Group Inc. purchased a new position in Globant during the 1st quarter worth $39,000. Farther Finance Advisors LLC raised its position in Globant by 186.7% during the 1st quarter. Farther Finance Advisors LLC now owns 387 shares of the information technology services provider's stock worth $45,000 after buying an additional 252 shares during the last quarter. Signaturefd LLC raised its position in Globant by 29.7% during the 1st quarter. Signaturefd LLC now owns 389 shares of the information technology services provider's stock worth $46,000 after buying an additional 89 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its position in Globant by 262.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 562 shares of the information technology services provider's stock worth $121,000 after buying an additional 407 shares during the last quarter. Institutional investors and hedge funds own 91.60% of the company's stock.

Analyst Upgrades and Downgrades

GLOB has been the subject of a number of analyst reports. Guggenheim restated a "buy" rating and set a $125.00 price objective on shares of Globant in a research report on Tuesday, June 10th. Mizuho set a $153.00 price objective on shares of Globant and gave the stock an "outperform" rating in a research report on Monday, May 19th. The Goldman Sachs Group cut 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. Canaccord Genuity Group restated a "hold" rating and set a $97.00 price objective (down previously from $165.00) on shares of Globant in a research report on Thursday, June 26th. Finally, UBS Group cut their price objective on shares of Globant from $120.00 to $75.00 and set a "neutral" rating for the company in a research report on Wednesday, August 20th. Eight research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $139.47.

Globant Price Performance

Shares of GLOB traded down $1.01 during trading hours on Tuesday, reaching $67.15. The company had a trading volume of 1,162,346 shares, compared to its average volume of 2,068,399. The firm has a 50 day simple moving average of $83.43 and a 200-day simple moving average of $112.33. 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 company has a market capitalization of $2.96 billion, a price-to-earnings ratio of 27.30, a PEG ratio of 3.01 and a beta of 1.16. Globant S.A. has a 12-month low of $64.51 and a 12-month high of $238.32.

Globant (NYSE:GLOB - Get Free Report) last announced its quarterly 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. The business had revenue of $614.18 million during the quarter, compared to the consensus estimate of $612.66 million. Globant had a net margin of 4.44% and a return on equity of 10.76%. The business's revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.51 EPS. Globant has set its Q3 2025 guidance at 1.530- EPS. FY 2025 guidance at 6.120- EPS. Research analysts expect that Globant S.A. will post 5.73 earnings per share for the current 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.