Gloo (NASDAQ:GLOO) Issues Earnings Results

Gloo (NASDAQ:GLOO) issued its earnings results on Monday. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.06), Zacks reports. The firm had revenue of $41.53 million during the quarter.

Gloo Trading Down 3.6%

Shares of GLOO traded down $0.19 on Monday, reaching $5.08. 962,535 shares of the company’s stock traded hands, compared to its average volume of 83,677. Gloo has a 52-week low of $4.63 and a 52-week high of $9.98. The business has a 50 day moving average price of $6.01.

Analyst Upgrades and Downgrades

GLOO has been the subject of a number of research analyst reports. Weiss Ratings raised Gloo from a “sell (e-)” rating to a “sell (e)” rating in a research report on Friday, May 1st. Benchmark restated a “buy” rating on shares of Gloo in a report on Wednesday, June 3rd. Finally, Wall Street Zen cut Gloo from a “hold” rating to a “sell” rating in a research note on Saturday, May 23rd. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $17.00.

Insider Activity

In related news, CEO Scott Arthur Beck acquired 3,700 shares of the company’s stock in a transaction dated Friday, April 17th. The stock was bought at an average cost of $7.97 per share, with a total value of $29,489.00. Following the acquisition, the chief executive officer owned 443,586 shares of the company’s stock, valued at approximately $3,535,380.42. The trade was a 0.84% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders have acquired 33,886 shares of company stock worth $249,834. Insiders own 45.23% of the company’s stock.

Institutional Investors Weigh In On Gloo

A number of institutional investors have recently made changes to their positions in the company. Jane Street Group LLC bought a new stake in shares of Gloo during the 4th quarter valued at $82,000. Beacon Pointe Advisors LLC purchased a new stake in Gloo in the 4th quarter valued at about $142,000. Marshall Wace LLP purchased a new stake in shares of Gloo in the 4th quarter worth approximately $173,000. HRT Financial LP purchased a new stake in Gloo during the fourth quarter valued at approximately $179,000. Finally, Millennium Management LLC acquired a new position in Gloo during the 4th quarter valued at approximately $402,000.

About Gloo

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.