Cornerstone Management Inc. Takes Position in Gloo Holdings $GLOO

Cornerstone Management Inc. acquired a new position in shares of Gloo Holdings (NASDAQ:GLOO) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 125,000 shares of the company’s stock, valued at approximately $601,000.

A number of other institutional investors and hedge funds have also bought and sold shares of GLOO. Grace & Mercy Foundation Inc. bought a new position in Gloo in the fourth quarter valued at about $14,225,000. 1492 Capital Management LLC acquired a new stake in shares of Gloo during the fourth quarter valued at about $1,627,000. Annandale Capital LLC bought a new stake in shares of Gloo during the fourth quarter worth about $1,423,000. Skylands Capital LLC bought a new stake in shares of Gloo during the fourth quarter worth about $511,000. Finally, Millennium Management LLC acquired a new position in shares of Gloo in the fourth quarter valued at approximately $402,000.

Wall Street Analyst Weigh In

GLOO has been the subject of a number of research reports. Weiss Ratings upgraded shares of Gloo from a “sell (e-)” rating to a “sell (e)” rating in a report on Friday, May 1st. 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 report on Tuesday, June 9th. Finally, Wall Street Zen downgraded shares of Gloo from a “hold” rating to a “sell” rating in a research note on Saturday, May 23rd. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $16.00.

Insider Buying and Selling

In other Gloo news, major shareholder Financial For Luthera Thrivent sold 6,600 shares of the stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $4.74, for a total transaction of $31,284.00. Following the transaction, the insider directly owned 4,719,000 shares in the company, valued at approximately $22,368,060. This represents a 0.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Scott Arthur Beck acquired 3,700 shares of Gloo stock in a transaction dated Friday, April 17th. The shares were bought at an average cost of $7.97 per share, with a total value of $29,489.00. Following the transaction, the chief executive officer owned 443,586 shares in the company, valued at approximately $3,535,380.42. This trade represents a 0.84% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders acquired 33,886 shares of company stock valued at $249,834 and sold 67,477 shares valued at $317,973. Insiders own 45.23% of the company’s stock.

Gloo Price Performance

Shares of Gloo stock opened at $4.69 on Monday. The stock’s 50-day simple moving average is $5.91. Gloo Holdings has a 1-year low of $4.45 and a 1-year high of $9.98.

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

Gloo 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.