Gloo (NASDAQ:GLOO) Sees Strong Trading Volume Following Insider Buying Activity

Gloo Holdings (NASDAQ:GLOO) shares saw an uptick in trading volume on Friday after an insider bought additional shares in the company. 48,898 shares were traded during trading, a decline of 41% from the previous session’s volume of 83,463 shares.The stock last traded at $7.87 and had previously closed at $7.40.

Specifically, CEO Scott Arthur Beck purchased 27,386 shares of the company’s stock in a transaction that occurred on Thursday, April 16th. The shares were acquired at an average cost of $7.23 per share, for a total transaction of $198,000.78. Following the completion of the acquisition, the chief executive officer owned 439,886 shares of the company’s stock, valued at $3,180,375.78. The trade was a 6.64% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Analyst Ratings Changes

A number of research firms recently issued reports on GLOO. Wall Street Zen upgraded shares of Gloo from a “sell” rating to a “hold” rating in a report on Saturday, February 21st. Roth Mkm restated a “buy” rating on shares of Gloo in a report on Thursday, January 29th. Finally, Weiss Ratings began coverage on shares of Gloo in a report on Thursday, February 12th. They set a “sell (e-)” rating for the company. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, Gloo currently has an average rating of “Hold” and a consensus price target of $17.00.

Gloo Stock Up 8.0%

The stock’s fifty day simple moving average is $5.73.

Gloo (NASDAQ:GLOO) last announced its quarterly earnings data on Tuesday, April 14th. The company reported ($0.78) earnings per share for the quarter, missing the consensus estimate of ($0.31) by ($0.47). The business had revenue of $33.63 million during the quarter, compared to analyst estimates of $31.98 million.

Institutional Investors Weigh In On Gloo

Institutional investors have recently added to or reduced their stakes in the business. Jane Street Group LLC purchased a new stake in Gloo during the fourth quarter valued at about $82,000. Beacon Pointe Advisors LLC purchased a new stake in Gloo during the fourth quarter valued at about $142,000. Marshall Wace LLP purchased a new stake in Gloo during the fourth quarter valued at about $173,000. HRT Financial LP bought a new stake in Gloo during the 4th quarter valued at $179,000. Finally, Millennium Management LLC bought a new stake in Gloo during the 4th quarter valued at $402,000.

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.