Insider Selling: Gloo (NASDAQ:GLOO) Major Shareholder Sells 12,400 Shares of Stock

Gloo Holdings (NASDAQ:GLOO) major shareholder Financial For Luthera Thrivent sold 12,400 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $4.60, for a total value of $57,040.00. Following the completion of the sale, the insider owned 4,765,600 shares of the company’s stock, valued at $21,921,760. This trade represents a 0.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Financial For Luthera Thrivent also recently made the following trade(s):

• On Friday, June 12th, Financial For Luthera Thrivent sold 11,100 shares of Gloo stock. The shares were sold at an average price of $4.59, for a total value of $50,949.00.
• On Wednesday, June 10th, Financial For Luthera Thrivent sold 8,477 shares of Gloo stock. The shares were sold at an average price of $4.70, for a total value of $39,841.90.

Gloo Price Performance

Shares of GLOO stock traded down $0.06 during trading hours on Friday, reaching $4.57. The company had a trading volume of 111,891 shares, compared to its average volume of 169,755. The stock has a fifty day simple moving average of $6.00. Gloo Holdings has a 12-month low of $4.45 and a 12-month high of $9.98.

Gloo (NASDAQ:GLOO) last posted its quarterly earnings results on Monday, June 8th. The company reported ($0.22) earnings per share (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. On average, equities research analysts expect that Gloo Holdings will post -0.31 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in GLOO. EverSource Wealth Advisors LLC lifted its stake in 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 position in Gloo during the fourth quarter worth $82,000. Beacon Pointe Advisors LLC acquired a new position in Gloo during the fourth quarter worth $142,000. Marshall Wace LLP acquired a new position in Gloo during the fourth quarter worth $173,000. Finally, HRT Financial LP acquired a new position in Gloo during the fourth quarter worth $179,000.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Weiss Ratings upgraded Gloo from a “sell (e-)” rating to a “sell (e)” rating in a research report on Friday, May 1st. Benchmark increased their price objective on Gloo from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Wall Street Zen lowered Gloo from a “hold” rating to a “sell” rating in a research report on Saturday, May 23rd. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, Gloo currently has an average rating of “Hold” and a consensus target price of $16.00.

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.