Gloo (NASDAQ:GLOO) CEO Purchases $3,499,999.75 in Stock

Gloo Holdings (NASDAQ:GLOO) CEO Scott Arthur Beck acquired 1,076,923 shares of the business’s stock in a transaction dated Friday, July 10th. The stock was purchased at an average price of $3.25 per share, for a total transaction of $3,499,999.75. Following the completion of the acquisition, the chief executive officer owned 1,523,309 shares in the company, valued at approximately $4,950,754.25. This trade represents a 241.25% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Scott Arthur Beck also recently made the following trade(s):

• On Monday, April 20th, Scott Arthur Beck acquired 2,800 shares of Gloo stock. The stock was purchased at an average cost of $7.98 per share, for a total transaction of $22,344.00.
• On Friday, April 17th, Scott Arthur Beck bought 3,700 shares of Gloo stock. The shares were purchased at an average price of $7.97 per share, with a total value of $29,489.00.
• On Thursday, April 16th, Scott Arthur Beck bought 27,386 shares of Gloo stock. The shares were acquired at an average cost of $7.23 per share, with a total value of $198,000.78.

Gloo Stock Performance

NASDAQ GLOO opened at $2.95 on Monday. Gloo Holdings has a one year low of $2.94 and a one year high of $9.98. The firm has a 50 day simple moving average of $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. The stock has a market capitalization of $242.22 million and a price-to-earnings ratio of -0.52.

Gloo (NASDAQ:GLOO) last released its quarterly earnings data on Monday, June 8th. The company reported ($0.22) earnings per share (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. Sell-side analysts forecast that Gloo Holdings will post -0.31 EPS for the current fiscal year.

Institutional Trading of Gloo

Hedge funds have recently made changes to their positions in the company. EverSource Wealth Advisors LLC lifted its position in shares of Gloo by 263.4% during the first quarter. EverSource Wealth Advisors LLC now owns 5,513 shares of the company’s stock worth $27,000 after purchasing an additional 3,996 shares in the last quarter. Jane Street Group LLC acquired a new stake in Gloo during the 4th quarter valued at $82,000. Beacon Pointe Advisors LLC purchased a new stake in Gloo during the 4th quarter worth $142,000. Marshall Wace LLP purchased a new stake in Gloo during the 4th quarter worth $173,000. Finally, HRT Financial LP acquired a new position in Gloo in the 4th quarter worth $179,000.

Key Stories Impacting 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 Upgrades and Downgrades

Several analysts recently issued reports on the company. Weiss Ratings upgraded Gloo from a “sell (e-)” rating to a “sell (e)” rating in a report on Friday, May 1st. Wall Street Zen cut Gloo from a “hold” rating to a “sell” rating in a research note on Saturday, May 23rd. Finally, Benchmark upped their target price on 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 assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target 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.