Short Interest in Gloo Holdings (NASDAQ:GLOO) Grows By 206.6%

Gloo Holdings (NASDAQ:GLOO) was the recipient of a large increase in short interest during the month of June. As of June 15th, there was short interest totaling 421,090 shares, an increase of 206.6% from the May 31st total of 137,338 shares. Based on an average daily trading volume, of 259,254 shares, the days-to-cover ratio is currently 1.6 days. Currently, 0.9% of the company’s stock are sold short.

Insider Buying and Selling at Gloo

In other Gloo news, CEO Scott Arthur Beck purchased 27,386 shares of the stock in a transaction on Thursday, April 16th. The stock was acquired at an average price of $7.23 per share, with a total value of $198,000.78. Following the completion of the acquisition, the chief executive officer owned 439,886 shares in the company, valued at $3,180,375.78. The trade was a 6.64% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Financial For Luthera Thrivent sold 27,859 shares of the company’s stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $4.59, for a total transaction of $127,872.81. Following the transaction, the insider owned 4,684,000 shares in the company, valued at approximately $21,499,560. This trade represents a 0.59% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have purchased 33,886 shares of company stock worth $249,834 and have sold 123,477 shares worth $570,957. 45.23% of the stock is owned by insiders.

Institutional Trading of Gloo

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC increased its holdings in Gloo by 263.4% in the first quarter. EverSource Wealth Advisors LLC now owns 5,513 shares of the company’s stock valued at $27,000 after buying an additional 3,996 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of Gloo during the 4th quarter worth about $82,000. Beacon Pointe Advisors LLC acquired a new stake in shares of Gloo during the 4th quarter valued at about $142,000. Marshall Wace LLP purchased a new position in shares of Gloo in the 4th quarter valued at about $173,000. Finally, HRT Financial LP purchased a new position in shares of Gloo in the 4th quarter valued at about $179,000.

Analysts Set New Price Targets

GLOO has been the topic of a number of recent analyst reports. Benchmark upped their price target on shares of Gloo from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Tuesday, June 9th. Weiss Ratings upgraded shares of Gloo from a “sell (e-)” rating to a “sell (e)” rating in a research note on Friday, May 1st. Finally, Wall Street Zen lowered shares of Gloo from a “hold” rating to a “sell” rating in a report on Saturday, May 23rd. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $16.00.

Gloo Stock Up 0.2%

Shares of GLOO traded up $0.01 during mid-day trading on Tuesday, reaching $4.52. The company had a trading volume of 1,401 shares, compared to its average volume of 99,832. Gloo has a 52-week low of $4.20 and a 52-week high of $9.98. The company has a 50 day moving average price of $5.70.

Gloo (NASDAQ:GLOO) last announced its quarterly earnings results on Monday, June 8th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.06). The company had revenue of $41.53 million during the quarter. As a group, equities analysts anticipate that Gloo will post -0.31 EPS for the current fiscal year.

Gloo Company Profile

Gloo’s mission is to build the leading vertical technology platform for the faith and flourishing ecosystem, which we believe is one of the largest, oldest and least-digitized ecosystems in the world. Our purpose is to shape technology as a force for good, so people can flourish and communities can thrive. This is grounded in our belief that relationships catalyze growth, and when technology is used to serve relationships, it transforms lives. The faith and flourishing ecosystem is vast and, we believe, a technologically underserved vertical that includes traditional Christian (primarily Protestant and Catholic) churches and a diverse network of ministries, nonprofits and service providers.