Russell Investments Group Ltd. Reduces Stock Position in Globant S.A. $GLOB

Key Points

• Russell Investments Group Ltd. reduced its stake in Globant S.A. by 21.1%, selling 20,028 shares and now owning 75,017 shares worth approximately $8.83 million.
• Globant reported earnings per share of $1.53, surpassing analysts' expectations of $1.52, and had a revenue of $614.18 million, which was higher than the projected $612.66 million.
• Institutional investors currently own 91.60% of Globant's stock, indicating strong confidence from large investment firms in the company's prospects.

Russell Investments Group Ltd. lessened its holdings in shares of Globant S.A. (NYSE:GLOB - Free Report) by 21.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 75,017 shares of the information technology services provider's stock after selling 20,028 shares during the period. Russell Investments Group Ltd. owned 0.17% of Globant worth $8,831,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Barclays PLC grew its stake in shares of Globant by 154.2% in the 4th quarter. Barclays PLC now owns 57,282 shares of the information technology services provider's stock valued at $12,282,000 after buying an additional 34,745 shares during the period. Commerce Bank grew its stake in shares of Globant by 8.8% in the 4th quarter. Commerce Bank now owns 1,873 shares of the information technology services provider's stock valued at $402,000 after buying an additional 151 shares during the period. First Trust Advisors LP grew its stake in shares of Globant by 77.9% in the 4th quarter. First Trust Advisors LP now owns 43,016 shares of the information technology services provider's stock valued at $9,223,000 after buying an additional 18,842 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Globant by 6.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 539,922 shares of the information technology services provider's stock valued at $115,778,000 after buying an additional 32,534 shares during the period. Finally, MML Investors Services LLC grew its stake in shares of Globant by 30.4% in the 4th quarter. MML Investors Services LLC now owns 8,359 shares of the information technology services provider's stock valued at $1,792,000 after buying an additional 1,947 shares during the period. Hedge funds and other institutional investors own 91.60% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Guggenheim reissued a "buy" rating and issued a $125.00 price target on shares of Globant in a research note on Tuesday, June 10th. Scotiabank raised shares of Globant from a "sector perform" rating to a "sector outperform" rating and set a $115.00 price target for the company in a research note on Monday, July 21st. Piper Sandler cut shares of Globant from an "overweight" rating to a "neutral" rating and dropped their price target for the company from $154.00 to $116.00 in a research note on Friday, May 16th. Needham & Company LLC dropped their price target on shares of Globant from $115.00 to $85.00 and set a "buy" rating for the company in a research note on Friday, August 15th. Finally, UBS Group dropped their price target on shares of Globant from $120.00 to $75.00 and set a "neutral" rating for the company in a research note on Wednesday, August 20th. Eight analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, Globant has a consensus rating of "Moderate Buy" and an average target price of $139.47.

Globant Trading Down 2.6%

Shares of GLOB stock traded down $1.80 during trading hours on Monday, hitting $68.13. The company had a trading volume of 796,027 shares, compared to its average volume of 2,100,474. The stock has a market capitalization of $3.00 billion, a PE ratio of 27.70, a price-to-earnings-growth ratio of 3.09 and a beta of 1.16. Globant S.A. has a fifty-two week low of $64.51 and a fifty-two week high of $238.32. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.71 and a quick ratio of 1.71. The company's fifty day moving average is $83.94 and its 200 day moving average is $112.64.

Globant (NYSE:GLOB - Get Free Report) last released its earnings results on Thursday, August 14th. The information technology services provider reported $1.53 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.52 by $0.01. The company had revenue of $614.18 million for the quarter, compared to analyst estimates of $612.66 million. Globant had a net margin of 4.44% and a return on equity of 10.76%. The firm's quarterly revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the business earned $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 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.