Gloo (NASDAQ:GLOO) Major Shareholder Sells $51,740.00 in Stock

Gloo Holdings (NASDAQ:GLOO) major shareholder Financial For Luthera Thrivent sold 13,000 shares of the firm’s stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $3.98, for a total value of $51,740.00. Following the sale, the insider directly owned 4,605,000 shares in the company, valued at approximately $18,327,900. This represents a 0.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Financial For Luthera Thrivent also recently made the following trade(s):

• On Friday, July 10th, Financial For Luthera Thrivent sold 20,000 shares of Gloo stock. The shares were sold at an average price of $2.98, for a total value of $59,600.00.
• On Thursday, July 9th, Financial For Luthera Thrivent sold 125,000 shares of Gloo stock. The stock was sold at an average price of $3.08, for a total value of $385,000.00.
• On Tuesday, July 7th, Financial For Luthera Thrivent sold 11,000 shares of Gloo stock. The stock was sold at an average price of $3.76, for a total value of $41,360.00.
• On Monday, July 6th, Financial For Luthera Thrivent sold 13,700 shares of Gloo stock. The shares were sold at an average price of $4.01, for a total value of $54,937.00.
• On Thursday, July 2nd, Financial For Luthera Thrivent sold 300 shares of Gloo stock. The stock was sold at an average price of $4.64, for a total value of $1,392.00.
• On Wednesday, July 1st, Financial For Luthera Thrivent sold 12,000 shares of Gloo stock. The stock was sold at an average price of $4.82, for a total value of $57,840.00.
• On Monday, June 29th, Financial For Luthera Thrivent sold 4,000 shares of Gloo stock. The shares were sold at an average price of $4.51, for a total transaction of $18,040.00.
• On Friday, June 26th, Financial For Luthera Thrivent sold 15,600 shares of Gloo stock. The shares were sold at an average price of $4.33, for a total transaction of $67,548.00.
• On Thursday, June 25th, Financial For Luthera Thrivent sold 1,600 shares of Gloo stock. The stock was sold at an average price of $4.21, for a total transaction of $6,736.00.
• On Wednesday, June 24th, Financial For Luthera Thrivent sold 3,800 shares of Gloo stock. The stock was sold at an average price of $4.54, for a total transaction of $17,252.00.

Gloo Stock Performance

GLOO opened at $2.95 on Monday. The stock has a market capitalization of $242.22 million and a PE ratio of -0.52. The company’s fifty day moving average is $5.10. Gloo Holdings has a fifty-two week low of $2.94 and a fifty-two week 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.

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

Gloo News Roundup

Here are the key news stories impacting Gloo this week:

• Positive Sentiment: CEO Scott Arthur Beck bought 1,076,923 shares at $3.25, a large insider purchase that suggests management sees value in the stock. CEO Insider Purchase Filing
• Positive Sentiment: Director Derek Todd Green bought 615,384 shares at $3.25, adding to the bullish insider-buying signal. Director Insider Purchase Filing
• Neutral Sentiment: The company said it priced a 7 million-share public offering at $3.25 per share, bringing in about $22.75 million before expenses. Public Offering Announcement
• Negative Sentiment: Major shareholder Financial For Luthera Thrivent sold shares in recent filings, which can add to investor concern about near-term conviction. Shareholder Sale Filing
• Negative Sentiment: A recent report highlighting Gloo’s $48 million in losses is likely weighing on sentiment as investors focus on profitability and funding needs. Losses Report

Hedge Funds Weigh In On Gloo

Institutional investors and hedge funds have recently made changes to their positions in the business. Grace & Mercy Foundation Inc. bought a new stake in shares of Gloo in the 4th quarter worth about $14,225,000. Cornerstone Management Inc. bought a new position in shares of Gloo in the 1st quarter valued at about $601,000. Skylands Capital LLC purchased a new position in Gloo in the fourth quarter worth about $511,000. 1492 Capital Management LLC purchased a new position in Gloo in the fourth quarter worth about $1,627,000. Finally, Annandale Capital LLC bought a new stake in Gloo during the fourth quarter worth approximately $1,423,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on GLOO shares. Wall Street Zen downgraded Gloo from a “hold” rating to a “sell” rating in a research report on Saturday, May 23rd. Weiss Ratings raised Gloo from a “sell (e-)” rating to a “sell (e)” rating in a research note on Friday, May 1st. Finally, Benchmark upped their price objective on Gloo from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Tuesday, June 9th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average 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.