Diego Tartara Sells 6,000 Shares of Globant (NYSE:GLOB) Stock

Key Points

• Globant CTO Diego Tartara sold 6,000 shares at an average price of $40.45, generating $242,700 and reducing his direct stake by 7.66% to 72,320 shares.
• Globant shares traded near $40.58, with the stock well below its 52-week high of $72.10. The company’s latest quarterly EPS of $1.40 missed estimates, although revenue of $614.42 million slightly exceeded expectations.
• Analyst sentiment is broadly cautious, with an average rating of “Hold” and a $46.38 price target, while Globant has authorized a $50 million share buyback and institutional investors own 91.6% of the stock.

Globant S.A. (NYSE:GLOB - Get Free Report) CTO Diego Tartara sold 6,000 shares of the business's stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $40.45, for a total transaction of $242,700.00. Following the transaction, the chief technology officer directly owned 72,320 shares of the company's stock, valued at approximately $2,925,344. This represents a 7.66% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Globant Price Performance

Globant stock traded up $0.41 during midday trading on Friday, reaching $40.58. 914,043 shares of the stock were exchanged, compared to its average volume of 1,707,297. Globant S.A. has a 52 week low of $27.56 and a 52 week high of $72.10. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.84 and a current ratio of 1.84. The firm has a market cap of $1.78 billion, a PE ratio of 15.91, a PEG ratio of 2.49 and a beta of 1.02. The company's fifty day moving average is $34.31 and its 200-day moving average is $40.58.

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 firm had revenue of $614.42 million during the quarter, compared to the consensus estimate of $612.86 million. Globant had a net margin of 4.63% and a return on equity of 9.28%. The firm's revenue for the quarter was up .0% on a year-over-year basis. During the same period in the previous year, the business 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. On average, sell-side analysts forecast that Globant S.A. will post 4.65 EPS for the current year.

Globant announced that its Board of Directors has initiated a share buyback program on Monday, May 18th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the information technology services provider to buy up to 2.9% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board believes its stock is undervalued.

Analyst Ratings Changes

Several equities analysts recently commented on GLOB shares. Weiss Ratings cut Globant from a "sell (d+)" rating to a "sell (d)" rating in a research report on Friday, August 14th. Deutsche Bank Aktiengesellschaft set a $33.00 price target on Globant in a report on Friday, July 10th. Canaccord Genuity Group set a $35.00 price target on Globant in a research report on Friday, August 14th. Wedbush lowered Globant from an "outperform" rating to a "neutral" rating and cut their price objective for the stock from $54.00 to $37.00 in a report on Friday, August 14th. Finally, Itau BBA Securities cut shares of Globant from an "outperform" rating to a "market perform" rating and set a $39.00 price objective on the stock. in a research report on Wednesday, July 8th. Five equities 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 company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $46.38.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in Globant in the second quarter valued at $128,713,000. Pzena Investment Management LLC bought a new stake in Globant during the second quarter worth about $111,700,000. Wellington Management Group LLP lifted its stake in Globant by 350.3% during the second quarter. Wellington Management Group LLP now owns 1,706,156 shares of the information technology services provider's stock worth $49,376,000 after purchasing an additional 1,327,268 shares during the last quarter. Alyeska Investment Group L.P. boosted its holdings in shares of Globant by 78.5% in the 2nd quarter. Alyeska Investment Group L.P. now owns 2,954,954 shares of the information technology services provider's stock worth $85,516,000 after purchasing an additional 1,299,353 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its holdings in shares of Globant by 6,875.8% in the 2nd quarter. Alliancebernstein L.P. now owns 929,245 shares of the information technology services provider's stock worth $84,413,000 after purchasing an additional 915,924 shares in the last quarter. 91.60% of the stock is currently owned by hedge funds and other institutional investors.

About Globant

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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