Cornerstone Management Inc. Purchases New Position in Gloo Holdings $GLOO

Cornerstone Management Inc. purchased a new stake in Gloo Holdings (NASDAQ:GLOO) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 125,000 shares of the company’s stock, valued at approximately $601,000. Cornerstone Management Inc. owned 0.16% of Gloo as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Jane Street Group LLC acquired a new position in shares of Gloo in the fourth quarter valued at approximately $82,000. Beacon Pointe Advisors LLC bought a new position in Gloo during the 4th quarter worth $142,000. Marshall Wace LLP acquired a new stake in shares of Gloo during the fourth quarter worth $173,000. HRT Financial LP acquired a new stake in shares of Gloo during the fourth quarter worth $179,000. Finally, Millennium Management LLC bought a new stake in shares of Gloo in the fourth quarter valued at about $402,000.

Wall Street Analyst Weigh In

Several equities analysts recently commented on GLOO shares. Weiss Ratings upgraded shares of Gloo from a “sell (e-)” rating to a “sell (e)” rating in a research note on Friday, May 1st. Wall Street Zen downgraded shares of Gloo from a “hold” rating to a “sell” rating in a report on Saturday, May 23rd. Finally, Benchmark increased their target price on shares of Gloo from $14.00 to $15.00 and gave the stock 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 issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $16.00.

Insider Activity

In related news, CEO Scott Arthur Beck purchased 27,386 shares of the firm’s stock in a transaction that occurred on Thursday, April 16th. The shares were bought at an average cost of $7.23 per share, with a total value of $198,000.78. Following the acquisition, the chief executive officer owned 439,886 shares of the company’s stock, valued at $3,180,375.78. This trade represents a 6.64% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Financial For Luthera Thrivent sold 24,500 shares of Gloo stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $4.82, for a total transaction of $118,090.00. Following the sale, the insider directly owned 4,730,000 shares in the company, valued at $22,798,600. This trade represents a 0.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have acquired 33,886 shares of company stock valued at $249,834 and have sold 67,477 shares valued at $317,973. 45.23% of the stock is currently owned by insiders.

Gloo Stock Performance

Shares of GLOO opened at $4.69 on Monday. Gloo Holdings has a 52-week low of $4.45 and a 52-week high of $9.98. The firm has a fifty day simple moving average of $5.91.

Gloo (NASDAQ:GLOO) last announced 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 company had revenue of $41.53 million during the quarter. Equities research analysts expect that Gloo Holdings will post -0.31 earnings per share for the current year.

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.