Gloo (NASDAQ:GLOO) Trading Up 9.2% – Here’s What Happened

Shares of Gloo Holdings (NASDAQ:GLOO) were up 9.2% on Friday . The company traded as high as $6.88 and last traded at $6.9440. Approximately 64,764 shares were traded during trading, a decline of 24% from the average daily volume of 85,534 shares. The stock had previously closed at $6.36.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on GLOO shares. Wall Street Zen raised Gloo from a “sell” rating to a “hold” rating in a research report on Sunday, April 26th. Roth Mkm reissued a “buy” rating on shares of Gloo in a research note on Thursday, January 29th. Finally, Weiss Ratings raised Gloo from a “sell (e-)” rating to a “sell (e)” rating in a research note on Friday. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $17.00.

Gloo Stock Up 10.5%

The business has a 50 day moving average of $6.03.

Gloo (NASDAQ:GLOO) last released its quarterly earnings data on Tuesday, April 14th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.47). The business had revenue of $33.63 million during the quarter, compared to analyst estimates of $31.98 million. Equities analysts predict that Gloo Holdings will post -0.31 earnings per share for the current year.

Insider Buying and Selling at Gloo

In related news, CEO Scott Arthur Beck bought 27,386 shares of the business’s stock in a transaction dated Thursday, April 16th. The shares were purchased at an average price of $7.23 per share, with a total value of $198,000.78. Following the transaction, the chief executive officer owned 439,886 shares in the company, valued at $3,180,375.78. This trade represents a 6.64% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last 90 days, insiders purchased 33,886 shares of company stock worth $249,834.

Hedge Funds Weigh In On Gloo

Several large investors have recently modified their holdings of GLOO. Grace & Mercy Foundation Inc. bought a new position in shares of Gloo during the 4th quarter valued at approximately $14,225,000. 1492 Capital Management LLC bought a new position in shares of Gloo during the 4th quarter valued at approximately $1,627,000. Annandale Capital LLC bought a new position in shares of Gloo during the 4th quarter valued at approximately $1,423,000. Cornerstone Management Inc. bought a new position in shares of Gloo during the 1st quarter valued at approximately $601,000. Finally, Skylands Capital LLC bought a new position in shares of Gloo during the 4th quarter valued at approximately $511,000.

About Gloo

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.