Gloo (NASDAQ:GLOO) Sees Strong Trading Volume After Insider Buying Activity

Key Points

• CEO Scott Arthur Beck bought 27,386 shares on April 16 at an average price of $7.23 (about $198,000), increasing his stake to 439,886 shares — a 6.64% rise, according to an SEC filing.
• The stock last traded at $7.87 (previous close $7.40) with 48,898 shares exchanged, a 41% decline from the prior session's 83,463 shares.
• Analysts are mixed: the stock has a consensus "Hold" rating with an average target price of $17.00 (one Buy and one Sell rating reported).

Gloo Holdings (NASDAQ:GLOO - Get Free Report) saw an uptick in trading volume on Friday following insider buying activity. 48,898 shares were traded during trading, a decline of 41% from the previous session's volume of 83,463 shares.The stock last traded at $7.87 and had previously closed at $7.40.

Specifically, CEO Scott Arthur Beck acquired 27,386 shares of the business's stock in a transaction on Thursday, April 16th. The shares were acquired at an average price of $7.23 per share, with a total value of $198,000.78. Following the completion of the transaction, the chief executive officer owned 439,886 shares in the company, valued at approximately $3,180,375.78. This trade represents a 6.64% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Weiss Ratings assumed coverage on Gloo in a research report on Thursday, February 12th. They issued a "sell (e-)" rating on the stock. Wall Street Zen raised Gloo from a "sell" rating to a "hold" rating in a research report on Saturday, February 21st. Finally, Roth Mkm reissued a "buy" rating on shares of Gloo in a research report on Thursday, January 29th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $17.00.

Gloo Price Performance

The firm's fifty day moving average price is $5.68.

Gloo (NASDAQ:GLOO - Get Free Report) last released its quarterly earnings results on Tuesday, April 14th. The company reported ($0.78) earnings per share for the quarter, missing the consensus estimate of ($0.31) by ($0.47). The business had revenue of $33.63 million during the quarter, compared to analysts' expectations of $31.98 million.

Institutional Trading of Gloo

Several institutional investors and hedge funds have recently modified their holdings of the business. Jane Street Group LLC purchased a new position in shares of Gloo during the 4th quarter valued at about $82,000. Beacon Pointe Advisors LLC purchased a new position in shares of Gloo during the 4th quarter valued at about $142,000. Marshall Wace LLP purchased a new position in shares of Gloo during the 4th quarter valued at about $173,000. HRT Financial LP purchased a new position in shares of Gloo during the 4th quarter valued at about $179,000. Finally, Millennium Management LLC purchased a new position in shares of Gloo during the 4th quarter valued at about $402,000.

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.

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