Wall Street Zen upgraded shares of Gloo (NASDAQ:GLOO – Free Report) from a sell rating to a hold rating in a research note issued to investors on Saturday,Wall Street Zen reports.
A number of other equities research analysts have also recently weighed in on GLOO. Citigroup initiated coverage on Gloo in a report on Monday, July 20th. They set an “outperform” rating for the company. Benchmark raised their target price on Gloo from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Tuesday, June 9th. Weiss Ratings raised Gloo from a “sell (e)” rating to a “sell (d-)” rating in a report on Wednesday, August 12th. Finally, Citizens Jmp started coverage on shares of Gloo in a report on Monday, July 20th. They set an “outperform” rating and a $8.00 price objective on the stock. Four research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $13.33.
Read Our Latest Research Report on Gloo
Gloo Stock Performance
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 the consensus estimate of ($0.16) by ($0.06). The business had revenue of $41.53 million for the quarter. Research analysts forecast that Gloo will post -0.28 earnings per share for the current fiscal year.
Insider Buying and Selling at Gloo
In other Gloo news, CEO Scott Beck acquired 1,076,923 shares of Gloo stock in a transaction on Friday, July 10th. The shares were purchased at an average cost of $3.25 per share, with a total value of $3,499,999.75. Following the completion of the purchase, the chief executive officer owned 1,523,309 shares in the company, valued at $4,950,754.25. The trade was a 241.25% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Grace & Mercy Foundation, Inc. bought 923,076 shares of the stock in a transaction on Thursday, July 9th. The shares were acquired at an average cost of $3.25 per share, with a total value of $2,999,997.00. Following the acquisition, the insider directly owned 3,423,076 shares in the company, valued at approximately $11,124,997. This trade represents a 36.92% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders have purchased 2,615,383 shares of company stock valued at $8,499,995 and have sold 461,177 shares valued at $1,710,643. Company insiders own 45.23% of the company’s stock.
Hedge Funds Weigh In On Gloo
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GLOO. EverSource Wealth Advisors LLC increased its stake in shares of Gloo by 263.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 5,513 shares of the company’s stock valued at $27,000 after acquiring an additional 3,996 shares during the last quarter. Jane Street Group LLC bought a new position in Gloo during the 4th quarter worth approximately $82,000. Beacon Pointe Advisors LLC acquired a new position in Gloo during the fourth quarter valued at approximately $142,000. Marshall Wace LLP bought a new stake in Gloo in the fourth quarter valued at approximately $173,000. Finally, HRT Financial LP bought a new stake in Gloo in the fourth quarter valued at approximately $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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