NS Partners Ltd Takes $4.85 Million Position in Globant S.A. $GLOB

NS Partners Ltd bought a new position in shares of Globant S.A. (NYSE:GLOB) during the second quarter, Holdings Channel.com reports. The fund bought 167,500 shares of the information technology services provider’s stock, valued at approximately $4,847,000.

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

Analysts Set New Price Targets

A number of analysts have recently issued reports on GLOB shares. JPMorgan Chase & Co. cut their target price on Globant from $47.00 to $44.00 and set a “neutral” rating for the company in a research note on Friday, August 14th. Zacks Research cut shares of Globant from a “hold” rating to a “strong sell” rating in a research note on Monday, August 24th. Guggenheim decreased their price objective on Globant from $55.00 to $50.00 and set a “buy” rating on the stock in a report on Friday, August 14th. Truist Financial dropped their target price on Globant from $44.00 to $38.00 and set a “hold” rating for the company in a report on Friday, August 14th. Finally, Weiss Ratings cut Globant from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, August 14th. Five investment 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, the stock has a consensus rating of “Hold” and a consensus target price of $46.38.

Insider Buying and Selling at Globant

In related news, CTO Diego Tartara 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 value of $242,700.00. Following the completion of the sale, the chief technology officer directly owned 72,320 shares in the company, valued at $2,925,344. This trade represents a 7.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Wanda Weigert sold 6,000 shares of the firm’s stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $40.45, for a total transaction of $242,700.00. Following the completion of the transaction, the insider directly owned 64,046 shares in the company, valued at $2,590,660.70. This trade represents a 8.57% decrease in their position. The disclosure for this sale is available in the SEC filing. 2.67% of the stock is currently owned by corporate insiders.

Globant Price Performance

Shares of GLOB stock opened at $40.69 on Tuesday. The stock’s fifty day moving average is $34.72 and its 200-day moving average is $40.30. 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 stock has a market capitalization of $1.78 billion, a PE ratio of 15.96, a PEG ratio of 2.60 and a beta of 1.02. Globant S.A. has a 52 week low of $27.56 and a 52 week high of $72.10.

Globant (NYSE:GLOB) last released its quarterly earnings results on Thursday, August 13th. The information technology services provider reported $1.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.50 by ($0.10). The business 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 business’s quarterly revenue was up .0% compared to the same quarter last year. During the same period in the prior year, the firm 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 expect that Globant S.A. will post 4.65 EPS for the current fiscal year.

Globant announced that its board has approved a share repurchase program on Monday, May 18th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the information technology services provider to reacquire up to 2.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

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.