Wellington Management Group LLP Boosts Stock Position in Globant S.A. $GLOB

Key Points

• Wellington Management significantly increased its Globant stake by 350.3% in the second quarter, bringing its holdings to 1.71 million shares worth approximately $49.4 million. Institutional investors and hedge funds collectively own 91.6% of the company.
• Globant’s latest quarterly results showed mixed performance: earnings per share came in at $1.40, below the $1.50 consensus estimate, while revenue of $614.4 million slightly exceeded expectations. The company also authorized a $50 million share-buyback program covering up to 2.9% of outstanding shares.
• Analyst sentiment remains cautious, with several firms cutting price targets or ratings. Globant carries a consensus “Hold” rating and an average price target of $46.38, while insiders have sold 14,500 shares worth $585,400 over the past 90 days.

Wellington Management Group LLP increased its position in shares of Globant S.A. (NYSE:GLOB - Free Report) by 350.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,706,156 shares of the information technology services provider's stock after acquiring an additional 1,327,268 shares during the period. Wellington Management Group LLP owned about 3.89% of Globant worth $49,376,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of GLOB. Allworth Financial LP lifted its position in shares of Globant by 473.3% during the fourth quarter. Allworth Financial LP now owns 493 shares of the information technology services provider's stock worth $32,000 after purchasing an additional 407 shares in the last quarter. Larson Financial Group LLC grew its holdings in shares of Globant by 561.2% in the fourth quarter. Larson Financial Group LLC now owns 681 shares of the information technology services provider's stock valued at $45,000 after purchasing an additional 578 shares in the last quarter. MidFirst Bank purchased a new stake in Globant during the 4th quarter worth approximately $47,000. State of Wyoming increased its stake in Globant by 78.9% during the 2nd quarter. State of Wyoming now owns 882 shares of the information technology services provider's stock worth $80,000 after buying an additional 389 shares during the period. Finally, Advisors Asset Management Inc. lifted its holdings in Globant by 77.4% during the 4th quarter. Advisors Asset Management Inc. now owns 912 shares of the information technology services provider's stock worth $60,000 after buying an additional 398 shares in the last quarter. 91.60% of the stock is owned by institutional investors and hedge funds.

Globant Price Performance

GLOB stock opened at $40.29 on Friday. The business has a 50 day moving average price of $35.37 and a 200 day moving average price of $40.05. The stock has a market cap of $1.77 billion, a price-to-earnings ratio of 15.80, a PEG ratio of 2.51 and a beta of 0.98. Globant S.A. has a fifty-two week low of $27.56 and a fifty-two week high of $72.10. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.19.

Globant (NYSE:GLOB - Get Free Report) last announced its quarterly earnings results on Thursday, August 13th. The information technology services provider reported $1.40 EPS for the quarter, missing the consensus estimate of $1.50 by ($0.10). The company had revenue of $614.42 million during the quarter, compared to analysts' expectations of $612.86 million. Globant had a net margin of 4.63% and a return on equity of 9.28%. The business's revenue for the quarter was up .0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.53 earnings per share. Globant has set its FY 2026 guidance at 5.750-6.150 EPS and its Q3 2026 guidance at 1.430-1.430 EPS. Equities research analysts anticipate that Globant S.A. will post 4.61 earnings per share for the current fiscal year.

Globant declared that its board has approved a stock repurchase program on Monday, May 18th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the information technology services provider to buy up to 2.9% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's leadership believes its stock is undervalued.

Insider Activity at Globant

In other news, insider Wanda Weigert sold 6,000 shares of Globant stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $40.45, for a total transaction of $242,700.00. Following the sale, the insider owned 64,046 shares in the company, valued at approximately $2,590,660.70. The trade was a 8.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CRO Fernando Matzkin sold 2,500 shares of the business's stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $40.00, for a total value of $100,000.00. Following the completion of the sale, the executive directly owned 71,608 shares of the company's stock, valued at $2,864,320. The trade was a 3.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 14,500 shares of company stock valued at $585,400 over the last ninety days. Insiders own 2.67% of the company's stock.

Analysts Set New Price Targets

GLOB has been the subject of several research reports. Citigroup dropped their price target on shares of Globant from $42.00 to $37.00 and set a "neutral" rating for the company in a research note on Monday, July 27th. Weiss Ratings cut Globant from a "sell (d+)" rating to a "sell (d)" rating in a research note on Friday, August 14th. Deutsche Bank Aktiengesellschaft set a $33.00 price target on Globant in a report on Friday, July 10th. Itau BBA Securities lowered Globant from an "outperform" rating to a "market perform" rating and set a $39.00 price target on the stock. in a research report on Wednesday, July 8th. Finally, Zacks Research cut Globant from a "hold" rating to a "strong sell" rating in a research note on Monday, August 24th. Five research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Globant presently has an average rating of "Hold" and a consensus price target of $46.38.

Globant Profile

Globant is a digitally native technology services company founded in 2003 in Buenos Aires, Argentina. Specializing in software development and digital transformation, Globant partners with enterprises to conceive, design and engineer software products and platforms. The company leverages agile methodologies and proprietary delivery frameworks to accelerate projects in areas such as cloud migration, user experience design, data analytics, artificial intelligence and blockchain-enabled solutions.

Globant's service offerings span strategy consulting, custom software engineering, digital experience design and managed services.

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