Gloo Holdings (NASDAQ:GLOO) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Gloo Holdings (NASDAQ:GLOO) have been assigned an average rating of “Moderate Buy” from the five research firms that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $13.3333.

GLOO has been the topic of a number of research analyst reports. Benchmark upped their price target on shares of Gloo from $14.00 to $15.00 and gave the company a “buy” rating in a research report on Tuesday, June 9th. Wall Street Zen downgraded Gloo from a “hold” rating to a “sell” rating in a research note on Saturday, May 23rd. Weiss Ratings upgraded Gloo from a “sell (e)” rating to a “sell (d-)” rating in a research report on Wednesday. Citigroup assumed coverage on Gloo in a research note on Monday, July 20th. They set an “outperform” rating for the company. Finally, Citizens Jmp began coverage on Gloo in a report on Monday, July 20th. They issued an “outperform” rating and a $8.00 target price for the company.

Insider Activity at Gloo

In related news, major shareholder Financial For Luthera Thrivent sold 11,000 shares of the stock in a transaction on Friday, August 7th. The shares were sold at an average price of $3.55, for a total transaction of $39,050.00. Following the transaction, the insider directly owned 4,157,000 shares of the company’s stock, valued at $14,757,350. This represents a 0.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Grace & Mercy Foundation, Inc. bought 923,076 shares of the business’s stock in a transaction that occurred on Thursday, July 9th. The shares were bought at an average cost of $3.25 per share, for a total transaction of $2,999,997.00. Following the completion of the purchase, the insider owned 3,423,076 shares of the company’s stock, valued at $11,124,997. This represents a 36.92% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders purchased 2,615,383 shares of company stock worth $8,499,995 and sold 414,177 shares worth $1,552,717. 45.23% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Gloo

Institutional investors have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC boosted its position 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 bought a new stake in Gloo in the 4th quarter valued at about $82,000. 1492 Capital Management LLC raised its stake in Gloo by 5.5% during the 1st quarter. 1492 Capital Management LLC now owns 301,706 shares of the company’s stock worth $1,451,000 after buying an additional 15,824 shares during the period. Beacon Pointe Advisors LLC bought a new position in Gloo in the fourth quarter worth approximately $142,000. Finally, Marshall Wace LLP bought a new position in Gloo in the fourth quarter worth approximately $173,000.

Gloo Stock Up 1.8%

Shares of NASDAQ GLOO opened at $3.47 on Friday. The company’s 50 day moving average price is $3.90 and its 200-day moving average price is $5.18. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.91 and a current ratio of 0.94. Gloo has a 52-week low of $2.94 and a 52-week high of $9.98. The company has a market capitalization of $284.92 million and a P/E ratio of -0.61.

Gloo (NASDAQ:GLOO) 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. Equities analysts forecast that Gloo will post -0.28 earnings per share for the current year.

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.