Russell Investments Group Ltd. Sells 20,028 Shares of 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. trimmed its position in shares of Globant S.A. (NYSE:GLOB - Free Report) by 21.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 75,017 shares of the information technology services provider's stock after selling 20,028 shares during the quarter. Russell Investments Group Ltd. owned 0.17% of Globant worth $8,831,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Signaturefd LLC raised its position in shares of Globant by 29.7% during the first quarter. Signaturefd LLC now owns 389 shares of the information technology services provider's stock worth $46,000 after purchasing an additional 89 shares during the period. Blue Trust Inc. raised its position in shares of 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 purchasing an additional 116 shares during the period. Commerce Bank raised its position in shares of Globant by 8.8% during the fourth quarter. Commerce Bank now owns 1,873 shares of the information technology services provider's stock worth $402,000 after purchasing an additional 151 shares during the period. Benjamin Edwards Inc. raised its position in shares of Globant by 4.8% during the fourth quarter. Benjamin Edwards Inc. now owns 3,320 shares of the information technology services provider's stock worth $712,000 after purchasing an additional 151 shares during the period. Finally, Physician Wealth Advisors Inc. raised its position in shares of 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 purchasing an additional 155 shares during the period. 91.60% of the stock is owned by institutional investors and hedge funds.

Globant Stock Performance

NYSE:GLOB traded up $2.2090 during trading on Friday, reaching $69.6890. The company's stock had a trading volume of 2,014,695 shares, compared to its average volume of 2,069,612. The firm has a market cap of $3.07 billion, a price-to-earnings ratio of 28.33, a price-to-earnings-growth ratio of 3.00 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. The firm has a 50 day moving average of $84.49 and a 200-day moving average of $115.09. 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 data 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 firm had revenue of $614.18 million during the quarter, compared to the consensus estimate of $612.66 million. Globant had a return on equity of 10.76% and a net margin of 4.44%.The business's revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter in the prior 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. Research analysts expect that Globant S.A. will post 5.73 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on GLOB shares. JPMorgan Chase & Co. lowered Globant from an "overweight" rating to a "neutral" rating and set a $78.00 price target for the company. in a research report on Friday, August 15th. Needham & Company LLC lowered their price target on Globant from $115.00 to $85.00 and set a "buy" rating for the company in a research report on Friday, August 15th. Wall Street Zen raised Globant from a "sell" rating to a "hold" rating in a research report on Monday, May 19th. UBS Group lowered their price target on Globant from $120.00 to $75.00 and set a "neutral" rating for the company in a research report on Wednesday. Finally, Scotiabank upgraded Globant from a "sector perform" rating to a "sector outperform" rating and set a $115.00 price objective for the company in a research note on Monday, July 21st. Eight investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average 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.