Gloo Holdings' Lock-Up Period Will End on May 18th (NASDAQ:GLOO)

Key Points

• Gloo’s lock-up period ends May 18, which means major shareholders and insiders will be able to sell shares after the expiration. The company issued 9.1 million shares in its IPO at $8.00 each.
• Analyst sentiment is mixed but cautious, with consensus currently at “Hold” and an average price target of $17.00. Recent rating changes included upgrades from Weiss Ratings and Wall Street Zen, while Roth Mkm reiterated a Buy rating.
• Recent financial results were weaker than expected, as Gloo reported an EPS loss of $0.78 versus an expected loss of $0.31, though revenue of $33.63 million topped estimates. Shares opened at $6.56, below the IPO price but within a 52-week range of $4.63 to $9.98.

Gloo's (NASDAQ:GLOO - Get Free Report) lock-up period is set to end on Monday, May 18th. Gloo had issued 9,100,000 shares in its IPO on November 19th. The total size of the offering was $72,800,000 based on an initial share price of $8.00. After the expiration of the company's lock-up period, major shareholders and company insiders will be able to sell their shares of the company.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on GLOO shares. Weiss Ratings upgraded Gloo from a "sell (e-)" rating to a "sell (e)" rating in a research note on Friday, May 1st. Roth Mkm reiterated a "buy" rating on shares of Gloo in a research note on Thursday, January 29th. Finally, Wall Street Zen raised Gloo from a "sell" rating to a "hold" rating in a report on Sunday, April 26th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Gloo presently has a consensus rating of "Hold" and an average price target of $17.00.

Gloo Price Performance

Shares of NASDAQ GLOO opened at $6.56 on Monday. Gloo has a one year low of $4.63 and a one year high of $9.98. The business's 50-day simple moving average is $6.09.

Gloo (NASDAQ:GLOO - Get Free Report) last announced its quarterly earnings results on Tuesday, April 14th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.31) by ($0.47). The firm had revenue of $33.63 million during the quarter, compared to analyst estimates of $31.98 million. Equities analysts expect that Gloo will post -0.31 EPS for the current year.

Insider Activity

In other news, CEO Scott Arthur Beck purchased 3,700 shares of Gloo stock in a transaction dated Friday, April 17th. The stock was acquired at an average cost of $7.97 per share, for a total transaction of $29,489.00. Following the acquisition, the chief executive officer directly owned 443,586 shares in the company, valued at $3,535,380.42. This represents a 0.84% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In the last three months, insiders bought 33,886 shares of company stock worth $249,834.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Jane Street Group LLC bought a new position in shares of Gloo in the 4th quarter valued at approximately $82,000. 1492 Capital Management LLC increased its position in Gloo by 5.5% in the 1st quarter. 1492 Capital Management LLC now owns 301,706 shares of the company's stock worth $1,451,000 after buying an additional 15,824 shares during the period. Beacon Pointe Advisors LLC bought a new position in Gloo in the 4th quarter worth approximately $142,000. Marshall Wace LLP bought a new position in Gloo in the 4th quarter worth approximately $173,000. Finally, HRT Financial LP bought a new position in Gloo in the 4th quarter worth approximately $179,000.

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.

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