Insider Buying: Gloo (NASDAQ:GLOO) Major Shareholder Acquires $2,999,997.00 in Stock

Gloo Holdings (NASDAQ:GLOO) major shareholder Grace & Mercy Foundation, Inc. bought 923,076 shares of the stock in a transaction dated Thursday, July 9th. The stock was purchased at an average cost of $3.25 per share, for a total transaction of $2,999,997.00. Following the acquisition, the insider owned 3,423,076 shares in the company, valued at $11,124,997. The trade was a 36.92% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Gloo Stock Down 0.6%

Shares of GLOO stock opened at $3.36 on Thursday. The company has a market cap of $275.89 million and a P/E ratio of -0.59. Gloo Holdings has a 12-month low of $2.94 and a 12-month high of $9.98. The company has a quick ratio of 0.91, a current ratio of 0.94 and a debt-to-equity ratio of 0.11. The company’s 50-day moving average price is $4.90.

Gloo (NASDAQ:GLOO) last issued its quarterly earnings data 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 business had revenue of $41.53 million for the quarter. As a group, research analysts expect that Gloo Holdings will post -0.31 earnings per share for the current year.

Institutional Trading of Gloo

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its position in Gloo by 263.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 5,513 shares of the company’s stock valued at $27,000 after purchasing an additional 3,996 shares during the period. Jane Street Group LLC acquired a new stake in shares of Gloo during the 4th quarter worth approximately $82,000. 1492 Capital Management LLC raised its stake in shares of Gloo by 5.5% during the first quarter. 1492 Capital Management LLC now owns 301,706 shares of the company’s stock worth $1,451,000 after buying an additional 15,824 shares during the last quarter. Beacon Pointe Advisors LLC bought a new stake in shares of Gloo during the fourth quarter worth approximately $142,000. Finally, Marshall Wace LLP acquired a new position in Gloo in the fourth quarter valued at approximately $173,000.

Analyst Upgrades and Downgrades

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

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.