Gloo (NASDAQ:GLOO) Releases Quarterly Earnings Results

Gloo (NASDAQ:GLOO) issued its earnings results on Wednesday. The company reported ($0.25) EPS for the quarter, FiscalAI reports. The firm had revenue of $46.57 million during the quarter.

Gloo Stock Down 0.9%

Shares of NASDAQ GLOO traded down $0.03 during trading hours on Wednesday, hitting $3.15. The stock had a trading volume of 404,362 shares, compared to its average volume of 155,376. The firm’s 50-day moving average price is $3.39 and its two-hundred day moving average price is $4.89. Gloo has a 52 week low of $2.94 and a 52 week high of $9.98. The company has a market capitalization of $258.65 million and a P/E ratio of -0.55. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.91 and a current ratio of 0.94.

Insider Buying and Selling at Gloo

In other Gloo news, CEO Scott Beck bought 1,076,923 shares of the firm’s stock in a transaction on Friday, July 10th. The stock was bought at an average cost of $3.25 per share, with a total value of $3,499,999.75. Following the completion of the transaction, the chief executive officer directly owned 1,523,309 shares of the company’s stock, valued at approximately $4,950,754.25. The trade was a 241.25% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Grace & Mercy Foundation, Inc. purchased 923,076 shares of the business’s stock in a transaction dated Thursday, July 9th. The shares were acquired at an average price of $3.25 per share, for a total transaction of $2,999,997.00. Following the acquisition, the insider directly owned 3,423,076 shares in the company, valued at $11,124,997. This represents a 36.92% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders have bought 2,615,383 shares of company stock valued at $8,499,995 and have sold 452,700 shares valued at $1,670,802. 45.23% of the stock is currently owned by insiders.

Institutional Trading of Gloo

Several large investors have recently made changes to their positions in GLOO. 1492 Capital Management LLC bought a new position in shares of Gloo in the 4th quarter valued at approximately $1,627,000. Annandale Capital LLC bought a new stake in Gloo during the fourth quarter worth approximately $1,423,000. HRT Financial LP bought a new stake in Gloo during the fourth quarter worth approximately $179,000. Jane Street Group LLC acquired a new position in Gloo during the fourth quarter valued at approximately $82,000. Finally, Marshall Wace LLP bought a new position in shares of Gloo in the fourth quarter valued at approximately $173,000.

Analysts Set New Price Targets

GLOO has been the subject of a number of research reports. Benchmark raised their price objective on Gloo from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Tuesday, June 9th. Wall Street Zen upgraded shares of Gloo from a “sell” rating to a “hold” rating in a report on Saturday. Citigroup assumed coverage on shares of Gloo in a research note on Monday, July 20th. They issued an “outperform” rating on the stock. Citizens Jmp started coverage on shares of Gloo in a research report on Monday, July 20th. They issued an “outperform” rating and a $8.00 target price for the company. Finally, Weiss Ratings raised shares of Gloo from a “sell (e)” rating to a “sell (d-)” rating in a research note on Wednesday, August 12th. Four research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $13.33.

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.