Insider Selling: Gloo (NASDAQ:GLOO) Major Shareholder Sells $57,840.00 in Stock

Key Points

• Major shareholder Financial For Luthera Thrivent sold 12,000 Gloo shares on July 1 at an average price of $4.82, for a total of $57,840. The sale left the insider with 4,643,000 shares valued at about $22.4 million.
• The same shareholder has been actively trimming its Gloo stake, with multiple sales disclosed in late June totaling hundreds of thousands of dollars. These transactions suggest a steady reduction in ownership, though the position remains very large.
• Gloo stock rose 1.1% to $4.60, but the company recently reported a quarterly loss of $0.22 per share, worse than expectations. Analysts currently have a mixed view, with a consensus rating of Hold and an average target price of $16.00.

Gloo Holdings (NASDAQ:GLOO - Get Free Report) major shareholder Financial For Luthera Thrivent sold 12,000 shares of the firm's stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $4.82, for a total value of $57,840.00. Following the sale, the insider directly owned 4,643,000 shares in the company, valued at $22,379,260. The trade was a 0.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Large shareholders that own more than 10% of a company's stock are required to disclose their sales and purchases with the SEC.

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

• On Monday, June 29th, Financial For Luthera Thrivent sold 4,000 shares of Gloo stock. The shares were sold at an average price of $4.51, for a total transaction of $18,040.00.
• On Friday, June 26th, Financial For Luthera Thrivent sold 15,600 shares of Gloo stock. The shares were sold at an average price of $4.33, for a total value of $67,548.00.
• On Thursday, June 25th, Financial For Luthera Thrivent sold 1,600 shares of Gloo stock. The shares were sold at an average price of $4.21, for a total transaction of $6,736.00.
• On Wednesday, June 24th, Financial For Luthera Thrivent sold 3,800 shares of Gloo stock. The stock was sold at an average price of $4.54, for a total value of $17,252.00.
• On Tuesday, June 23rd, Financial For Luthera Thrivent sold 27,859 shares of Gloo stock. The stock was sold at an average price of $4.59, for a total transaction of $127,872.81.
• On Monday, June 22nd, Financial For Luthera Thrivent sold 430 shares of Gloo stock. The stock was sold at an average price of $4.73, for a total value of $2,033.90.
• On Thursday, June 18th, Financial For Luthera Thrivent sold 6,711 shares of Gloo stock. The shares were sold at an average price of $4.70, for a total transaction of $31,541.70.
• On Wednesday, June 17th, Financial For Luthera Thrivent sold 6,600 shares of Gloo stock. The stock was sold at an average price of $4.74, for a total value of $31,284.00.
• On Tuesday, June 16th, Financial For Luthera Thrivent sold 4,400 shares of Gloo stock. The shares were sold at an average price of $4.72, for a total transaction of $20,768.00.
• On Monday, June 15th, Financial For Luthera Thrivent sold 24,500 shares of Gloo stock. The stock was sold at an average price of $4.82, for a total value of $118,090.00.

Gloo Stock Up 1.1%

Shares of Gloo stock traded up $0.05 during trading on Wednesday, hitting $4.60. The company's stock had a trading volume of 148,136 shares, compared to its average volume of 183,755. Gloo Holdings has a 52 week low of $4.20 and a 52 week high of $9.98. The firm's 50-day moving average is $5.57.

Gloo (NASDAQ:GLOO - Get Free Report) last posted its quarterly earnings data on Monday, June 8th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.06). The firm had revenue of $41.53 million for the quarter. As a group, equities analysts anticipate that Gloo Holdings will post -0.31 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on GLOO. Wall Street Zen lowered shares of Gloo from a "hold" rating to a "sell" rating in a research report on Saturday, May 23rd. Weiss Ratings raised shares of Gloo from a "sell (e-)" rating to a "sell (e)" rating in a research report on Friday, May 1st. Finally, Benchmark increased their price objective on shares of Gloo from $14.00 to $15.00 and gave the company a "buy" rating in a research note on Tuesday, June 9th. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Gloo has a consensus rating of "Hold" and a consensus target price of $16.00.

Institutional Investors Weigh In On Gloo

Institutional investors and hedge funds have recently bought and sold shares of the stock. Grace & Mercy Foundation Inc. purchased a new position in shares of Gloo during the 4th quarter valued at about $14,225,000. 1492 Capital Management LLC bought a new position in Gloo during the fourth quarter valued at approximately $1,627,000. Annandale Capital LLC purchased a new position in shares of Gloo during the fourth quarter worth approximately $1,423,000. Waverly Advisors LLC bought a new stake in shares of Gloo in the 1st quarter worth approximately $1,202,000. Finally, Cornerstone Management Inc. bought a new position in shares of Gloo during the 1st quarter valued at $601,000.

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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