Wellington Management Group LLP Grows Holdings in Globant S.A. $GLOB

Wellington Management Group LLP increased its holdings in shares of Globant S.A. (NYSE:GLOB) by 350.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,706,156 shares of the information technology services provider’s stock after purchasing an additional 1,327,268 shares during the period. Wellington Management Group LLP’s holdings in Globant were worth $49,376,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of GLOB. Maxi Investments CY Ltd purchased a new position in shares of Globant during the fourth quarter worth about $2,255,000. Principal Financial Group Inc. raised its stake in Globant by 340.3% during the 4th quarter. Principal Financial Group Inc. now owns 815,703 shares of the information technology services provider’s stock valued at $53,323,000 after acquiring an additional 630,440 shares during the last quarter. Lazard Asset Management LLC lifted its position in Globant by 113.5% during the 1st quarter. Lazard Asset Management LLC now owns 326,027 shares of the information technology services provider’s stock worth $15,033,000 after acquiring an additional 173,302 shares during the period. ABN Amro Investment Solutions acquired a new stake in Globant during the 1st quarter worth approximately $10,146,000. Finally, Bank of America Corp DE lifted its position in Globant by 12.9% during the 1st quarter. Bank of America Corp DE now owns 413,210 shares of the information technology services provider’s stock worth $19,053,000 after acquiring an additional 47,110 shares during the period. 91.60% of the stock is owned by hedge funds and other institutional investors.

Globant Stock Up 3.6%

GLOB opened at $40.29 on Friday. 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 has a 50 day simple moving average of $35.37 and a 200-day simple moving average of $40.05. The stock has a market capitalization of $1.77 billion, a P/E ratio of 15.80, a P/E/G ratio of 2.51 and a beta of 0.98. Globant S.A. has a 12 month low of $27.56 and a 12 month high of $72.10.

Globant (NYSE:GLOB) last announced its quarterly earnings data on Thursday, August 13th. The information technology services provider reported $1.40 earnings per share 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 return on equity of 9.28% and a net margin of 4.63%.The company’s revenue was up .0% on a year-over-year basis. During the same period in the prior year, the company earned $1.53 EPS. Globant has set its FY 2026 guidance at 5.750-6.150 EPS and its Q3 2026 guidance at 1.430-1.430 EPS. On average, equities analysts anticipate that Globant S.A. will post 4.61 earnings per share for the current fiscal year.

Globant declared that its board has authorized a stock buyback plan 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 repurchase up to 2.9% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

A number of research firms have recently issued reports on GLOB. Wells Fargo & Company dropped their target price on Globant from $50.00 to $42.00 and set an “equal weight” rating on the stock in a report on Friday, July 10th. UBS Group set a $38.00 price target on Globant in a report on Friday, August 14th. Guggenheim lowered their price objective on shares of Globant from $55.00 to $50.00 and set a “buy” rating on the stock in a research report on Friday, August 14th. Itau BBA Securities cut shares of Globant from an “outperform” rating to a “market perform” rating and set a $39.00 price objective on the stock. in a research note on Wednesday, July 8th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Globant from $47.00 to $44.00 and set a “neutral” rating for the company in a research report on Friday, August 14th. Five research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $46.38.

Insider Activity

In other Globant news, CRO Fernando Matzkin sold 2,500 shares of the stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $40.00, for a total value of $100,000.00. Following the completion of the transaction, the executive directly owned 71,608 shares of the company’s stock, valued at approximately $2,864,320. This trade represents a 3.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CTO Diego Tartara sold 6,000 shares of the business’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 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 position. The SEC filing for this sale provides additional information. Insiders sold 14,500 shares of company stock worth $585,400 in the last 90 days. 2.67% of the stock is currently owned by corporate insiders.

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.