Gloo (NASDAQ:GLOO) Major Shareholder Grace & Mercy Foundation, Inc. Acquires 923,076 Shares of Stock

Gloo Holdings (NASDAQ:GLOO) major shareholder Grace & Mercy Foundation, Inc. acquired 923,076 shares of the business’s stock in a transaction on Thursday, July 9th. The stock was acquired at an average cost of $3.25 per share, for a total transaction of $2,999,997.00. Following the transaction, the insider owned 3,423,076 shares of the company’s stock, valued at approximately $11,124,997. The trade was a 36.92% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Gloo Price Performance

Shares of NASDAQ:GLOO opened at $3.16 on Tuesday. Gloo Holdings has a 1 year low of $2.94 and a 1 year high of $9.98. The company has a market cap of $259.47 million and a P/E ratio of -0.55. The company has a fifty day simple moving average of $5.04. 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 released its earnings results on Monday, June 8th. The company reported ($0.22) 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. Sell-side analysts anticipate that Gloo Holdings will post -0.31 earnings per share for the current year.

Institutional Investors Weigh In On Gloo

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Grace & Mercy Foundation Inc. purchased a new stake in Gloo during the fourth quarter valued at about $14,225,000. Cornerstone Management Inc. bought a new stake in shares of Gloo in the first quarter valued at approximately $601,000. Skylands Capital LLC purchased a new stake in shares of Gloo during the 4th quarter valued at approximately $511,000. 1492 Capital Management LLC purchased a new stake in shares of Gloo during the 4th quarter valued at approximately $1,627,000. Finally, Annandale Capital LLC bought a new position in Gloo in the 4th quarter worth approximately $1,423,000.

Analysts Set New Price Targets

A number of research analysts have weighed in on GLOO shares. Benchmark boosted their target price on shares of Gloo from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Tuesday, June 9th. Wall Street Zen cut shares of Gloo from a “hold” rating to a “sell” rating in a report on Saturday, May 23rd. Finally, Weiss Ratings upgraded Gloo from a “sell (e-)” rating to a “sell (e)” rating in a research note on Friday, May 1st. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $16.00.

More Gloo News

Here are the key news stories impacting Gloo this week:

• Positive Sentiment: Gloo announced the closing of its public offering of Class A common stock, removing some near-term financing uncertainty and giving the company additional capital to support operations and growth. Gloo Announces Closing of Public Offering of Class A Common Stock
• Positive Sentiment: A major shareholder, Grace & Mercy Foundation, bought 923,076 shares at $3.25 each, a large vote of confidence that can help support sentiment around the stock. SEC insider filing
• Positive Sentiment: Separate reports also highlighted insider buying by the CEO and a director, reinforcing the idea that management and insiders view Gloo’s shares as undervalued. Gloo CEO Purchases Stock
• Positive Sentiment: The company is also getting broader media attention for its push to lead faith-based organizations into the age of AI, which may be helping investor interest in the story. Faith Tech article
• Neutral Sentiment: Analyst and commentary pieces are debating the impact of the equity offering, with some arguing it is dilutive and could pressure future returns, but these opinions are not confirmed operating results. Seeking Alpha article
• Negative Sentiment: Some recent filings show selling by affiliated financial entities, which can offset the bullish signal from insider buying and add caution around the stock. Financial For Luthera Thrivent Sells Shares

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.