Gloo (NASDAQ:GLOO) Posts Earnings Results, Misses Estimates By $0.06 EPS

Gloo (NASDAQ:GLOO) released its quarterly earnings data on Monday. The company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.06), Zacks reports.

Gloo Stock Down 3.6%

Shares of GLOO traded down $0.19 during trading hours on Monday, reaching $5.08. The stock had a trading volume of 799,768 shares, compared to its average volume of 83,376. Gloo has a 12 month low of $4.63 and a 12 month high of $9.98. The stock’s 50-day moving average is $6.01.

Insider Activity

In other Gloo news, 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 price of $7.23 per share, with a total value of $198,000.78. Following the transaction, the chief executive officer owned 439,886 shares in the company, valued at $3,180,375.78. The trade was a 6.64% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last quarter, insiders acquired 33,886 shares of company stock valued at $249,834. 45.23% of the stock is owned by company insiders.

Hedge Funds Weigh In On Gloo

Several large investors have recently added to or reduced their stakes in GLOO. Annandale Capital LLC bought a new position in Gloo during the 4th quarter valued at $1,423,000. Millennium Management LLC bought a new position in Gloo during the 4th quarter valued at $402,000. HRT Financial LP bought a new position in Gloo during the 4th quarter valued at $179,000. Marshall Wace LLP bought a new position in Gloo during the 4th quarter valued at $173,000. Finally, Beacon Pointe Advisors LLC bought a new position in Gloo during the 4th quarter valued at $142,000.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on GLOO. Weiss Ratings raised shares of Gloo from a “sell (e-)” rating to a “sell (e)” rating in a research report on Friday, May 1st. Benchmark reissued a “buy” rating on shares of Gloo in a research report on Wednesday, June 3rd. Finally, Wall Street Zen cut shares of Gloo from a “hold” rating to a “sell” rating in a research report on Saturday, May 23rd. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $17.00.

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.