Insider Selling: Gloo (NASDAQ:GLOO) Major Shareholder Sells 6,600 Shares

Key Points

• Major shareholder Financial For Luthera Thrivent sold 6,600 Gloo shares at an average price of $3.14, receiving $20,724 and reducing its position by 0.16% to 4.237 million shares. The sale followed several additional disposals, including 21,000 shares on August 3 and 20,000 shares on July 31.
• Gloo shares rose 9.3% to $3.53, but remain well below their 12-month high of $9.98. The company recently reported a quarterly loss of $0.22 per share, missing the $0.16 consensus estimate, on revenue of $41.53 million.
• Analyst sentiment is mixed but leans positive: four analysts rate Gloo a Buy and one rates it a Sell, producing a “Moderate Buy” consensus and an average price target of $13.33.

Gloo Holdings (NASDAQ:GLOO - Get Free Report) major shareholder Financial For Luthera Thrivent sold 6,600 shares of the firm's stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $3.14, for a total transaction of $20,724.00. Following the transaction, the insider directly owned 4,237,000 shares in the company, valued at approximately $13,304,180. The trade was a 0.16% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Major shareholders that own more than 10% of a company's shares are required to disclose their transactions with the SEC.

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

• On Monday, August 3rd, Financial For Luthera Thrivent sold 21,000 shares of Gloo stock. The stock was sold at an average price of $3.46, for a total transaction of $72,660.00.
• On Friday, July 31st, Financial For Luthera Thrivent sold 20,000 shares of Gloo stock. The stock was sold at an average price of $3.23, for a total transaction of $64,600.00.
• On Wednesday, July 29th, Financial For Luthera Thrivent sold 1,000 shares of Gloo stock. The shares were sold at an average price of $3.14, for a total transaction of $3,140.00.
• On Wednesday, July 22nd, Financial For Luthera Thrivent sold 100 shares of Gloo stock. The stock was sold at an average price of $3.37, for a total transaction of $337.00.
• On Friday, July 10th, Financial For Luthera Thrivent sold 20,000 shares of Gloo stock. The stock was sold at an average price of $2.98, for a total transaction of $59,600.00.
• On Thursday, July 9th, Financial For Luthera Thrivent sold 125,000 shares of Gloo stock. The shares were sold at an average price of $3.08, for a total value of $385,000.00.
• On Wednesday, July 8th, Financial For Luthera Thrivent sold 13,000 shares of Gloo stock. The stock was sold at an average price of $3.98, for a total value of $51,740.00.
• On Tuesday, July 7th, Financial For Luthera Thrivent sold 11,000 shares of Gloo stock. The shares were sold at an average price of $3.76, for a total value of $41,360.00.
• On Monday, July 6th, Financial For Luthera Thrivent sold 13,700 shares of Gloo stock. The shares were sold at an average price of $4.01, for a total value of $54,937.00.
• On Thursday, July 2nd, Financial For Luthera Thrivent sold 300 shares of Gloo stock. The stock was sold at an average price of $4.64, for a total value of $1,392.00.

Gloo Trading Up 9.3%

Gloo stock traded up $0.30 during trading hours on Monday, reaching $3.53. 238,385 shares of the company were exchanged, compared to its average volume of 541,474. Gloo Holdings has a 12 month low of $2.94 and a 12 month high of $9.98. The company has a current ratio of 0.94, a quick ratio of 0.91 and a debt-to-equity ratio of 0.11. The firm has a 50-day moving average price of $4.21. The firm has a market capitalization of $289.85 million and a price-to-earnings ratio of -0.62.

Gloo (NASDAQ:GLOO - Get Free Report) last issued its quarterly earnings data on Monday, June 8th. The company reported ($0.22) earnings per share for the quarter, missing analysts' consensus estimates of ($0.16) by ($0.06). The firm had revenue of $41.53 million for the quarter. As a group, research analysts forecast that Gloo Holdings will post -0.28 EPS for the current year.

Analyst Upgrades and Downgrades

GLOO has been the topic of a number of recent analyst reports. Benchmark lifted their price objective on Gloo from $14.00 to $15.00 and gave the stock a "buy" rating in a research note on Tuesday, June 9th. Weiss Ratings reaffirmed a "sell (e)" rating on shares of Gloo in a report on Wednesday, July 29th. Citizens Jmp started coverage on Gloo in a research report on Monday, July 20th. They issued an "outperform" rating and a $8.00 price target on the stock. Citigroup started coverage on Gloo in a report on Monday, July 20th. They set an "outperform" rating for the company. Finally, Wall Street Zen lowered shares of Gloo from a "hold" rating to a "sell" rating in a research report on Saturday, May 23rd. Four analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Gloo presently has an average rating of "Moderate Buy" and an average price target of $13.33.

Hedge Funds Weigh In On Gloo

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC grew its holdings in shares of Gloo by 263.4% during the 1st 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 shares of Gloo in the 4th quarter valued at $82,000. Beacon Pointe Advisors LLC bought a new position in shares of Gloo during the 4th quarter worth about $142,000. Marshall Wace LLP bought a new stake in Gloo in the fourth quarter valued at about $173,000. Finally, HRT Financial LP acquired a new position in Gloo in the fourth quarter worth about $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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