Insider Buying: Gloo (NASDAQ:GLOO) CEO Acquires 2,800 Shares of Stock

Key Points

• CEO Scott Arthur Beck bought 2,800 shares on April 20 at an average of $7.98, raising his direct holdings to 446,386 shares (~$3.56M); combined with purchases on April 16 (27,386 shares) and April 17 (3,700 shares), he acquired 33,886 shares from April 16–20 for about $249,834.
• Gloo reported an EPS miss of ($0.78) vs. ($0.31) expected while beating revenue ($33.63M vs. $31.98M); the stock traded near $8.00 (12‑month range $4.63–$9.98) and carries a consensus "Hold" rating with an average target of $17.00.

Gloo Holdings (NASDAQ:GLOO - Get Free Report) CEO Scott Arthur Beck purchased 2,800 shares of the firm's stock in a transaction on Monday, April 20th. The shares were purchased at an average cost of $7.98 per share, for a total transaction of $22,344.00. Following the completion of the purchase, the chief executive officer directly owned 446,386 shares in the company, valued at $3,562,160.28. The trade was a 0.63% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Scott Arthur Beck also recently made the following trade(s):

• On Friday, April 17th, Scott Arthur Beck purchased 3,700 shares of Gloo stock. The shares were purchased at an average cost of $7.97 per share, for a total transaction of $29,489.00.
• On Thursday, April 16th, Scott Arthur Beck purchased 27,386 shares of Gloo stock. The shares were purchased at an average cost of $7.23 per share, for a total transaction of $198,000.78.

Gloo Price Performance

Shares of Gloo stock traded up $0.01 during mid-day trading on Monday, hitting $8.00. 127,193 shares of the stock were exchanged, compared to its average volume of 87,539. Gloo Holdings has a twelve month low of $4.63 and a twelve month high of $9.98. The stock has a 50-day moving average of $5.78.

Gloo (NASDAQ:GLOO - Get Free Report) last released 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 business had revenue of $33.63 million for the quarter, compared to the consensus estimate of $31.98 million. As a group, analysts forecast that Gloo Holdings will post -0.31 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on GLOO. Weiss Ratings began coverage on Gloo in a research note on Thursday, February 12th. They issued a "sell (e-)" rating on the stock. Wall Street Zen lowered Gloo from a "hold" rating to a "sell" rating in a research note on Saturday. Finally, Roth Mkm reissued a "buy" rating on shares of Gloo in a research note on Thursday, January 29th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Gloo currently has a consensus rating of "Hold" and an average target price of $17.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cornerstone Management Inc. acquired a new position in Gloo in the first quarter valued at $601,000. Beacon Pointe Advisors LLC purchased a new position in shares of Gloo in the 4th quarter valued at $142,000. Millennium Management LLC acquired a new position in shares of Gloo during the 4th quarter valued at $402,000. Grace & Mercy Foundation Inc. acquired a new position in shares of Gloo during the 4th quarter valued at $14,225,000. Finally, Marshall Wace LLP acquired a new position in shares of Gloo during the 4th quarter valued at $173,000.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.