Globant (NYSE:GLOB) Insider Wanda Weigert Sells 6,000 Shares

Key Points

• Insider sale: Globant insider Wanda Weigert sold 6,000 shares at an average price of $40.45, generating $242,700. She retained 64,046 shares, an 8.57% reduction in her holdings.
• Stock and earnings: GLOB closed at $40.58, up 1.0%, but its latest quarterly EPS of $1.40 missed analysts’ $1.50 estimate, while revenue of $614.42 million slightly exceeded expectations.
• Analyst outlook: Analysts have a consensus “Hold” rating and an average price target of $46.38. Globant also authorized a $50 million share-repurchase program covering up to 2.9% of outstanding shares.

Globant S.A. (NYSE:GLOB - Get Free Report) insider Wanda Weigert sold 6,000 shares of the stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $40.45, for a total transaction of $242,700.00. Following the completion of the sale, the insider directly owned 64,046 shares of the company's stock, valued at $2,590,660.70. This trade represents a 8.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Globant Stock Up 1.0%

GLOB traded up $0.41 on Friday, reaching $40.58. 914,043 shares of the company traded hands, compared to its average volume of 1,707,297. The stock's 50 day moving average price is $34.31 and its 200-day moving average price is $40.58. Globant S.A. has a 52-week low of $27.56 and a 52-week high of $72.10. The company has a market cap of $1.78 billion, a price-to-earnings ratio of 15.91, a PEG ratio of 2.49 and a beta of 1.02. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.84 and a quick ratio of 1.84.

Globant (NYSE:GLOB - Get Free Report) last released its quarterly earnings data on Thursday, August 13th. The information technology services provider reported $1.40 earnings per share 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 analyst estimates of $612.86 million. Globant had a net margin of 4.63% and a return on equity of 9.28%. The firm's quarterly revenue was up .0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.53 EPS. 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 expect that Globant S.A. will post 4.65 EPS for the current fiscal year.

Globant declared that its Board of Directors has approved a share repurchase plan on Monday, May 18th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the information technology services provider to reacquire up to 2.9% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of GLOB. Allworth Financial LP boosted its holdings in Globant by 473.3% during the fourth quarter. Allworth Financial LP now owns 493 shares of the information technology services provider's stock valued at $32,000 after acquiring an additional 407 shares during the period. Larson Financial Group LLC boosted its position 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 acquiring an additional 578 shares during the period. MidFirst Bank bought a new stake in shares of Globant in the fourth quarter valued at approximately $47,000. Essential Partners LLC acquired a new stake in shares of Globant in the first quarter worth $55,000. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Globant by 872.5% in the first quarter. EverSource Wealth Advisors LLC now owns 1,274 shares of the information technology services provider's stock worth $59,000 after acquiring an additional 1,143 shares during the last quarter. Institutional investors own 91.60% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on GLOB. Deutsche Bank Aktiengesellschaft set a $33.00 price objective on Globant in a report on Friday, July 10th. Guggenheim reduced their target price on shares of Globant from $55.00 to $50.00 and set a "buy" rating for the company in a research note on Friday, August 14th. Canaccord Genuity Group set a $35.00 target price on shares of Globant in a research report on Friday, August 14th. UBS Group set a $38.00 price target on shares of Globant in a research note on Friday, August 14th. Finally, Weiss Ratings lowered shares of Globant from a "sell (d+)" rating to a "sell (d)" rating in a research note on Friday, August 14th. Five investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $46.38.

Globant Company 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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