Insider Buying: Gloo (NASDAQ:GLOO) Director Buys $1,999,998.00 in Stock

Gloo Holdings (NASDAQ:GLOO) Director Derek Todd Green bought 615,384 shares of the stock in a transaction dated Friday, July 10th. The stock was purchased at an average price of $3.25 per share, with a total value of $1,999,998.00. Following the acquisition, the director owned 865,384 shares of the company’s stock, valued at $2,812,498. The trade was a 246.15% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Gloo Price Performance

GLOO opened at $2.95 on Monday. Gloo Holdings has a fifty-two week low of $2.94 and a fifty-two week high of $9.98. The company has a market capitalization of $242.22 million and a price-to-earnings ratio of -0.52. The firm’s 50-day moving average price is $5.10. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.94 and a quick ratio of 0.91.

Gloo (NASDAQ:GLOO) last issued 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 business had revenue of $41.53 million for the quarter. On average, equities research analysts expect that Gloo Holdings will post -0.31 earnings per share for the current year.

Institutional Investors Weigh In On Gloo

Hedge funds have recently modified their holdings of the stock. EverSource Wealth Advisors LLC lifted its stake 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 purchasing an additional 3,996 shares during the last quarter. Jane Street Group LLC purchased a new stake in Gloo in the fourth quarter worth $82,000. Beacon Pointe Advisors LLC purchased a new stake in Gloo in the fourth quarter worth $142,000. Marshall Wace LLP bought a new stake in shares of Gloo in the fourth quarter valued at $173,000. Finally, HRT Financial LP bought a new stake in shares of Gloo in the fourth quarter valued at $179,000.

Trending Headlines about Gloo

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

Analyst Ratings Changes

Several brokerages have recently issued reports on GLOO. Wall Street Zen lowered Gloo from a “hold” rating to a “sell” rating in a research report on Saturday, May 23rd. Weiss Ratings raised shares of Gloo from a “sell (e-)” rating to a “sell (e)” rating in a report on Friday, May 1st. Finally, Benchmark increased 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. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Gloo 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.