Insider Selling: Globant (NYSE:GLOB) CRO Sells $100,000.00 in Stock

Globant S.A. (NYSE:GLOB) CRO Fernando Matzkin sold 2,500 shares of the firm’s stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $40.00, for a total transaction of $100,000.00. Following the sale, the executive owned 71,608 shares in the company, valued at approximately $2,864,320. This represents a 3.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Globant Trading Down 2.8%

Shares of Globant stock opened at $39.21 on Friday. The firm has a 50-day simple moving average of $35.56 and a two-hundred day simple moving average of $40.05. 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 fifty-two week low of $27.56 and a fifty-two week high of $72.10. The company has a market cap of $1.72 billion, a P/E 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 earnings results on Thursday, August 13th. The information technology services provider reported $1.40 EPS for the quarter, missing analysts’ consensus estimates of $1.50 by ($0.10). The business had revenue of $614.42 million for 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%. Globant’s revenue was up .0% on a year-over-year basis. During the same quarter last 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. As a group, equities analysts predict that Globant S.A. will post 4.61 earnings per share for the current fiscal year.

Globant announced that its board has approved a share buyback plan on Monday, May 18th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows 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 of directors believes its shares are undervalued.

Analyst Ratings Changes

A number of research analysts have recently issued reports on GLOB shares. Truist Financial decreased their target price on Globant from $44.00 to $38.00 and set a “hold” rating on the stock in a research report on Friday, August 14th. Susquehanna cut their price target on shares of Globant from $78.00 to $70.00 and set a “positive” rating for the company in a report on Friday, August 14th. Weiss Ratings downgraded shares of Globant from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, August 14th. JPMorgan Chase & Co. dropped their target price on shares of Globant from $47.00 to $44.00 and set a “neutral” rating on the stock in a research report on Friday, August 14th. Finally, Wells Fargo & Company cut their target price on shares of Globant from $50.00 to $42.00 and set an “equal weight” rating for the company in a research note on Friday, July 10th. Five investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $46.38.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in GLOB. Parkside Financial Bank & Trust boosted its stake in Globant by 89.8% during the 2nd quarter. Parkside Financial Bank & Trust now owns 3,550 shares of the information technology services provider’s stock worth $103,000 after purchasing an additional 1,680 shares during the last quarter. VELA Investment Management LLC lifted its stake in shares of Globant by 43.4% in the second quarter. VELA Investment Management LLC now owns 48,900 shares of the information technology services provider’s stock worth $1,415,000 after buying an additional 14,800 shares in the last quarter. Corient Private Wealth LP lifted its stake in shares of Globant by 148.5% in the second quarter. Corient Private Wealth LP now owns 12,929 shares of the information technology services provider’s stock worth $374,000 after buying an additional 7,726 shares in the last quarter. California State Teachers Retirement System boosted its position in Globant by 629.0% during the second quarter. California State Teachers Retirement System now owns 17,219 shares of the information technology services provider’s stock worth $498,000 after acquiring an additional 14,857 shares during the last quarter. Finally, TD Waterhouse Canada Inc. grew its stake in Globant by 45.0% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 3,485 shares of the information technology services provider’s stock valued at $109,000 after acquiring an additional 1,081 shares in the last quarter. 91.60% of the stock is owned by institutional investors and hedge funds.

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.