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

VELA Investment Management LLC boosted its position in shares of Globant S.A. (NYSE:GLOB) by 43.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 48,900 shares of the information technology services provider’s stock after buying an additional 14,800 shares during the quarter. VELA Investment Management LLC owned approximately 0.11% of Globant worth $1,415,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GLOB. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Globant during the 1st quarter valued at about $447,000. Goldman Sachs Group Inc. raised its holdings in Globant by 69.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 74,237 shares of the information technology services provider’s stock worth $8,739,000 after purchasing an additional 30,386 shares during the period. First Trust Advisors LP boosted its position in Globant by 61.9% during the second quarter. First Trust Advisors LP now owns 102,280 shares of the information technology services provider’s stock worth $9,291,000 after purchasing an additional 39,122 shares in the last quarter. Marshall Wace LLP raised its stake in shares of Globant by 823.2% during the 2nd quarter. Marshall Wace LLP now owns 105,894 shares of the information technology services provider’s stock worth $9,619,000 after buying an additional 94,424 shares during the period. Finally, Amundi raised its stake in shares of Globant by 192.7% during the 2nd quarter. Amundi now owns 7,970 shares of the information technology services provider’s stock worth $727,000 after buying an additional 5,247 shares during the period. Hedge funds and other institutional investors own 91.60% of the company’s stock.

Analyst Ratings Changes

GLOB has been the topic of a number of research analyst reports. Weiss Ratings cut shares of 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 objective on shares of Globant in a research report on Friday, July 10th. Susquehanna decreased their price objective 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. Itau BBA Securities lowered shares of Globant from an “outperform” rating to a “market perform” rating and set a $39.00 target price on the stock. in a research report on Wednesday, July 8th. Finally, The Goldman Sachs Group cut their target price on shares of Globant from $60.00 to $52.00 and set a “neutral” rating for the company in a research note on Friday, August 14th. Five research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Globant currently has a consensus rating of “Hold” and a consensus price target of $46.38.

Insider Activity

In other Globant news, insider Wanda Weigert sold 6,000 shares of the firm’s stock in a transaction 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 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Diego Tartara sold 6,000 shares of the firm’s 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 chief technology officer owned 72,320 shares of the company’s stock, valued at approximately $2,925,344. The trade was a 7.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 14,500 shares of company stock worth $585,400 over the last three months. Insiders own 2.67% of the company’s stock.

Globant Stock Performance

Shares of NYSE:GLOB opened at $39.21 on Tuesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.84 and a quick ratio of 1.84. The business’s 50 day moving average price is $35.74 and its 200-day moving average price is $39.92. The firm has a market capitalization of $1.72 billion, a PE ratio of 15.38, a P/E/G ratio of 2.53 and a beta of 0.98. Globant S.A. has a 1 year low of $27.56 and a 1 year high of $72.10.

Globant (NYSE:GLOB) last posted its quarterly earnings data 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 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 revenue for the quarter was up .0% compared to the same quarter last year. During the same period in the prior year, the company posted $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. As a group, equities research analysts expect that Globant S.A. will post 4.61 earnings per share for the current fiscal year.

Globant declared that its board has initiated a stock buyback 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 reacquire up to 2.9% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management 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.