Grace & Mercy Foundation, Inc. Purchases 923,076 Shares of Gloo (NASDAQ:GLOO) Stock

Gloo Holdings (NASDAQ:GLOO) major shareholder Grace & Mercy Foundation, Inc. acquired 923,076 shares of Gloo stock in a transaction that occurred on Thursday, July 9th. The stock was purchased at an average cost of $3.25 per share, for a total transaction of $2,999,997.00. Following the completion of the transaction, the insider directly owned 3,423,076 shares in the company, valued at $11,124,997. This trade represents a 36.92% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Gloo Price Performance

Shares of NASDAQ:GLOO opened at $3.38 on Wednesday. Gloo Holdings has a 1 year low of $2.94 and a 1 year high of $9.98. The company’s 50 day simple moving average is $4.97. The stock has a market capitalization of $277.53 million and a price-to-earnings ratio of -0.59. The company has a quick ratio of 0.91, a current ratio of 0.94 and a debt-to-equity ratio of 0.11.

Gloo (NASDAQ:GLOO) last released its earnings results on Monday, June 8th. The company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.06). The firm had revenue of $41.53 million during the quarter. Equities research analysts expect that Gloo Holdings will post -0.31 EPS for the current fiscal year.

Gloo News Summary

Here are the key news stories impacting Gloo this week:

• Positive Sentiment: Gloo closed its public offering of Class A common stock, which should strengthen liquidity and support operations, even though the offering may be dilutive. Gloo Announces Closing of Public Offering of Class A Common Stock
• Positive Sentiment: Grace & Mercy Foundation, a major shareholder, bought 923,076 shares at $3.25 each, suggesting strong insider confidence in Gloo’s valuation. SEC insider filing
• Positive Sentiment: Additional insider buying by the CEO and a director adds to the bullish signal around management’s view of the company’s prospects. Gloo CEO Purchases Stock
• Positive Sentiment: Media attention around Gloo’s AI strategy and faith-tech platform is helping keep investor interest elevated. Gloo Thinks It’s Finally Big Enough Not to Fail
• Neutral Sentiment: Commentary on the secondary offering is mixed, with some analysts arguing it is materially dilutive and could pressure future returns, but that is opinion rather than a new operating result. Seeking Alpha article
• Negative Sentiment: The discounted secondary offering at $3.25, below the prior close, highlights dilution risk and may cap upside despite the improved balance sheet. Gloo Holdings Prices Secondary Offering at $3.25

Analyst Ratings Changes

GLOO has been the subject of several research analyst reports. Benchmark lifted their target price on Gloo from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Tuesday, June 9th. Weiss Ratings raised shares of Gloo from a “sell (e-)” rating to a “sell (e)” rating in a research note on Friday, May 1st. Finally, Wall Street Zen lowered shares of Gloo from a “hold” rating to a “sell” rating in a report on Saturday, May 23rd. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Gloo currently has a consensus rating of “Hold” and an average target price of $16.00.

Hedge Funds Weigh In On Gloo

A number of hedge funds and other institutional investors have recently modified their holdings of GLOO. EverSource Wealth Advisors LLC increased its holdings in Gloo by 263.4% during the first quarter. EverSource Wealth Advisors LLC now owns 5,513 shares of the company’s stock valued at $27,000 after buying an additional 3,996 shares during the period. Jane Street Group LLC purchased a new stake in Gloo during the fourth quarter worth $82,000. Beacon Pointe Advisors LLC purchased a new position in shares of Gloo in the 4th quarter valued at $142,000. Marshall Wace LLP bought a new position in shares of Gloo in the 4th quarter worth $173,000. Finally, HRT Financial LP bought a new position in shares of Gloo in the 4th quarter worth $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.