Northwest & Ethical Investments L.P. Sells 5,534 Shares of Globant S.A. $GLOB

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. reduced its position in shares of Globant S.A. (NYSE:GLOB - Free Report) by 74.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. 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 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of GLOB. Physician Wealth Advisors Inc. grew 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 worth $31,000 after acquiring an additional 155 shares during the period. Bessemer Group Inc. acquired a new position in Globant during the first quarter worth about $39,000. Farther Finance Advisors LLC grew its holdings in Globant by 186.7% during the first quarter. Farther Finance Advisors LLC now owns 387 shares of the information technology services provider's stock worth $45,000 after acquiring an additional 252 shares during the period. Signaturefd LLC increased its stake in Globant by 29.7% in the 1st quarter. Signaturefd LLC now owns 389 shares of the information technology services provider's stock worth $46,000 after purchasing an additional 89 shares in the last quarter. Finally, Blue Trust Inc. increased its stake in Globant by 23.6% in the 1st quarter. Blue Trust Inc. now owns 607 shares of the information technology services provider's stock worth $71,000 after purchasing an additional 116 shares in the last quarter. 91.60% of the stock is owned by institutional investors and hedge funds.

Globant Stock Up 3.3%

Shares of Globant stock traded up $2.2090 during trading on Friday, hitting $69.6890. 2,014,695 shares of the stock traded hands, compared to its average volume of 2,069,612. The stock has a market cap of $3.07 billion, a P/E ratio of 28.33, a PEG ratio of 3.11 and a beta of 1.16. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.56 and a current ratio of 1.71. Globant S.A. has a twelve month low of $64.51 and a twelve month high of $238.32. The company has a fifty day moving average price of $84.49 and a two-hundred day moving average price of $114.41.

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 the consensus estimate of $1.52 by $0.01. The business had revenue of $614.18 million during the quarter, compared to analyst estimates of $612.66 million. Globant had a return on equity of 10.76% and a net margin of 4.44%.The firm's revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.51 EPS. Globant has set its Q3 2025 guidance at 1.530- EPS. FY 2025 guidance at 6.120- EPS. Equities research analysts predict that Globant S.A. will post 5.73 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on GLOB. UBS Group dropped their price target on Globant from $120.00 to $75.00 and set a "neutral" rating on the stock in a research note on Wednesday. Wall Street Zen raised Globant from a "sell" rating to a "hold" rating in a research note on Monday, May 19th. Deutsche Bank Aktiengesellschaft began coverage on Globant in a research note on Thursday, July 17th. They issued a "hold" rating and a $87.00 price target on the stock. JPMorgan Chase & Co. cut Globant from an "overweight" rating to a "neutral" rating and set a $78.00 price target on the stock. in a research note on Friday, August 15th. Finally, Canaccord Genuity Group restated a "hold" rating and set a $97.00 price objective (down from $165.00) on shares of Globant in a research report on Thursday, June 26th. Eight equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $139.47.

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.