VELA Investment Management LLC Grows Holdings in Globant S.A. $GLOB

VELA Investment Management LLC boosted its position in Globant S.A. (NYSE:GLOB) by 43.4% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 48,900 shares of the information technology services provider’s stock after acquiring an additional 14,800 shares during the quarter. VELA Investment Management LLC’s holdings in Globant were worth $1,415,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sanctuary Advisors LLC grew its stake in shares of Globant by 7.2% during the fourth quarter. Sanctuary Advisors LLC now owns 3,801 shares of the information technology services provider’s stock valued at $248,000 after acquiring an additional 255 shares in the last quarter. CWM LLC increased its position in shares of Globant by 33.7% during the fourth quarter. CWM LLC now owns 1,151 shares of the information technology services provider’s stock worth $75,000 after acquiring an additional 290 shares during the last quarter. Parallel Advisors LLC lifted its stake in shares of Globant by 27.1% in the first quarter. Parallel Advisors LLC now owns 1,735 shares of the information technology services provider’s stock worth $80,000 after acquiring an additional 370 shares in the last quarter. IHT Wealth Management LLC lifted its stake in shares of Globant by 9.4% in the second quarter. IHT Wealth Management LLC now owns 4,390 shares of the information technology services provider’s stock worth $399,000 after acquiring an additional 376 shares in the last quarter. Finally, Sora Investors LLC boosted its holdings in Globant by 0.4% in the fourth quarter. Sora Investors LLC now owns 85,714 shares of the information technology services provider’s stock valued at $5,603,000 after purchasing an additional 379 shares during the last quarter. 91.60% of the stock is owned by hedge funds and other institutional investors.

Globant Stock Up 0.2%

Shares of NYSE:GLOB opened at $39.21 on Monday. The company’s fifty day moving average is $35.56 and its two-hundred day moving average is $39.98. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.84 and a current ratio of 1.84. Globant S.A. has a 1-year low of $27.56 and a 1-year high of $72.10. The stock has a market capitalization of $1.72 billion, a price-to-earnings ratio of 15.38, a price-to-earnings-growth ratio of 2.53 and a beta of 0.98.

Globant (NYSE:GLOB) last posted 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). Globant had a net margin of 4.63% and a return on equity of 9.28%. The business had revenue of $614.42 million during the quarter, compared to analyst estimates of $612.86 million. During the same period last year, the firm posted $1.53 earnings per share. The company’s quarterly revenue was up .0% on a year-over-year basis. 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 analysts anticipate that Globant S.A. will post 4.61 EPS for the current year.

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

Analysts Set New Price Targets

A number of brokerages have weighed in on GLOB. The Goldman Sachs Group lowered their price objective on Globant from $60.00 to $52.00 and set a “neutral” rating for the company in a research note on Friday, August 14th. 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 shares of Globant in a research report on Friday, July 10th. Susquehanna cut their price target on shares of Globant from $78.00 to $70.00 and set a “positive” rating on the stock in a report on Friday, August 14th. Finally, Wedbush downgraded shares of Globant from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $54.00 to $37.00 in a research note on Friday, August 14th. Five analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $46.38.

Insiders Place Their Bets

In other Globant news, CTO Diego Tartara sold 6,000 shares of Globant stock in a transaction that occurred on 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 transaction, the chief technology officer directly owned 72,320 shares in the company, valued at $2,925,344. The trade was a 7.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CRO Fernando Matzkin sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $40.00, for a total value of $100,000.00. Following the transaction, the executive directly owned 71,608 shares of the company’s stock, valued at $2,864,320. This trade represents a 3.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 14,500 shares of company stock valued at $585,400 over the last quarter. Insiders own 2.67% of the company’s stock.

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.