64,738 Globant S.A. $GLOB Shares Sold by Riverbridge Partners LLC

by · The Markets Daily

Riverbridge Partners LLC cut its stake in Globant S.A. (NYSE:GLOB – Free Report) by 8.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 705,077 shares of the information technology services provider’s stock after selling 64,738 shares during the period. Riverbridge Partners LLC owned about 1.61% of Globant worth $24,466,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in GLOB. Pzena Investment Management LLC raised its position in Globant by 27.7% during the third quarter. Pzena Investment Management LLC now owns 4,929,099 shares of the information technology services provider’s stock valued at $171,040,000 after purchasing an additional 1,069,381 shares in the last quarter. BlackRock Inc. purchased a new position in shares of Globant in the 2nd quarter worth about $128,713,000. Alyeska Investment Group L.P. boosted its holdings in shares of Globant by 78.5% in the 2nd quarter. Alyeska Investment Group L.P. now owns 2,954,954 shares of the information technology services provider’s stock worth $85,516,000 after purchasing an additional 1,299,353 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Globant by 350.3% during the 2nd quarter. Wellington Management Group LLP now owns 1,706,156 shares of the information technology services provider’s stock valued at $49,376,000 after purchasing an additional 1,327,268 shares during the last quarter. Finally, M&G PLC increased its position in shares of Globant by 19.5% during the 3rd quarter. M&G PLC now owns 615,323 shares of the information technology services provider’s stock valued at $21,536,000 after purchasing an additional 100,502 shares during the last quarter. Institutional investors own 91.60% of the company’s stock.

Globant Stock Performance

Globant stock opened at $48.64 on Wednesday. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $2.13 billion, a PE ratio of 19.07, a P/E/G ratio of 6.03 and a beta of 0.86. The firm has a fifty day simple moving average of $39.77 and a two-hundred day simple moving average of $41.72. Globant S.A. has a twelve month low of $27.56 and a twelve month high of $72.10.

Globant (NYSE:GLOB – Get Free Report) last posted its quarterly earnings results on Thursday, August 13th. The information technology services provider reported $1.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.50 by ($0.10). The business had revenue of $614.42 million for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the previous year, the company 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. Research analysts expect that Globant S.A. will post 4.57 EPS for the current year.

Insider Activity at Globant

In related news, CRO Fernando Matzkin sold 2,500 shares of the stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $40.00, for a total transaction of $100,000.00. Following the completion of the sale, the executive directly owned 71,608 shares in the company, valued at $2,864,320. This represents a 3.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Diego Tartara sold 6,000 shares of the firm’s 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 transaction, the chief technology officer owned 72,320 shares in the company, valued at approximately $2,925,344. The trade was a 7.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 14,500 shares of company stock worth $585,400 in the last ninety days. 2.67% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

GLOB has been the topic of a number of research reports. TD Cowen decreased their price objective on Globant from $47.00 to $45.00 and set a “buy” rating on the stock in a report on Friday, August 14th. Truist Financial cut their target price on Globant from $44.00 to $38.00 and set a “hold” rating for the company in a research note on Friday, August 14th. Wells Fargo & Company increased their price target on shares of Globant from $39.00 to $48.00 and gave the company an “equal weight” rating in a research report on Monday, October 26th. Wedbush cut shares of Globant from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $54.00 to $37.00 in a research report on Friday, August 14th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Globant from $47.00 to $44.00 and set a “neutral” rating on the stock in a research note on Friday, August 14th. Four investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Globant has a consensus rating of “Hold” and a consensus target price of $45.75.

Read Our Latest Stock Analysis on Globant

Globant Profile

(Free Report)

Globant is a technology services company that helps businesses design, build and manage digital products and platforms. Its offerings include software and product engineering, digital experience design, cloud services, data and artificial intelligence solutions, and technology consulting. Founded in Argentina in 2003, Globant serves clients across multiple industries and operates in markets around the world. The company organizes much of its work through specialized “Studios” focused on areas such as digital transformation and emerging technologies.

Read More

Want to see what other hedge funds are holding GLOB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Globant S.A. (NYSE:GLOB – Free Report).