Key Points
- Grace & Mercy Foundation, a major shareholder in Gloo, bought 923,076 shares at $3.25 each for about $3.0 million, increasing its stake by nearly 37%.
- The purchase came as Gloo stock rose 7.1%; the shares recently traded around $3.16, well below their 52-week high of $9.98 and under the 50-day moving average of $5.04.
- Gloo recently reported a Q2 loss of $0.22 per share, missing estimates, while analysts currently rate the stock a Hold on average with a $16.00 consensus price target.
Gloo Holdings (NASDAQ:GLOO - Get Free Report) major shareholder Grace & Mercy Foundation, Inc. acquired 923,076 shares of the firm's stock in a transaction that occurred on Thursday, July 9th. The shares were bought at an average price of $3.25 per share, for a total transaction of $2,999,997.00. Following the completion of the purchase, the insider owned 3,423,076 shares in the company, valued at $11,124,997. This trade represents a 36.92% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own 10% or more of a company's stock are required to disclose their transactions with the SEC.
Gloo Stock Up 7.1%
Shares of NASDAQ GLOO opened at $3.16 on Tuesday. The company has a current ratio of 0.94, a quick ratio of 0.91 and a debt-to-equity ratio of 0.11. The company has a market cap of $259.47 million and a P/E ratio of -0.55. Gloo Holdings has a 52 week low of $2.94 and a 52 week high of $9.98. The business has a 50-day moving average of $5.04.
Gloo (NASDAQ:GLOO - Get Free Report) last announced its quarterly earnings results 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 firm had revenue of $41.53 million during the quarter. Equities research analysts anticipate that Gloo Holdings will post -0.31 EPS for the current year.
Wall Street Analyst Weigh In
Several research firms have issued reports on GLOO. Wall Street Zen cut shares of Gloo from a "hold" rating to a "sell" rating in a research note on Saturday, May 23rd. Benchmark boosted 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, Weiss Ratings upgraded Gloo from a "sell (e-)" rating to a "sell (e)" rating in a research report on Friday, May 1st. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $16.00.
View Our Latest Stock Analysis on Gloo
Hedge Funds Weigh In On Gloo
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Skylands Capital LLC purchased a new stake in shares of Gloo during the 4th quarter valued at $511,000. 1492 Capital Management LLC purchased a new stake in Gloo during the fourth quarter valued at about $1,627,000. Annandale Capital LLC bought a new stake in Gloo during the fourth quarter worth about $1,423,000. HRT Financial LP purchased a new position in shares of Gloo in the 4th quarter worth about $179,000. Finally, Jane Street Group LLC bought a new position in shares of Gloo during the 4th quarter valued at about $82,000.
Key Headlines Impacting Gloo
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
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Get Free Report)
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.
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