Insider Trading June 26, 2026 07:01 PM

Thrivent Financial Reduces Gloo Holdings Stake Through Three-Week Sales

Institutional divestment coincides with strong revenue growth and pending public offering for the SaaS platform company

By Ajmal Hussain
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Thrivent Financial for Lutherans, a significant 10% shareholder in Gloo Holdings Inc., executed a series of stock sales totaling $91,581 in value across three distinct transactions last week. The divestment involved the transfer of 21,000 Class A Common Stock shares at varying price points between $4.21 and $4.5434. This institutional selling occurs as the stock trades near its 52-week low of $4.20, despite analyst consensus suggesting potential undervaluation with price targets ranging from $10 to $17. Concurrently, Gloo Holdings reports a substantial revenue surge in the first quarter of 2026, prompting Benchmark to upgrade its price target to $15.00 while maintaining a Buy rating. The company is also advancing a public offering of Class A common stock, with Citizens Capital Markets and Roth Capital Partners serving as underwriters.

Thrivent Financial Reduces Gloo Holdings Stake Through Three-Week Sales
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Key Points

  • Thrivent Financial for Lutherans sold 21,000 shares of Gloo Holdings across three transactions last week, reducing its stake while the stock trades near its 52-week low of $4.20.
  • Gloo Holdings reported a 238% revenue surge to $41.5 million in Q1 2026, surpassing analyst forecasts and prompting Benchmark to raise its price target to $15.00.
  • Gloo Holdings filed a registration statement for a public offering of Class A common stock, with Citizens Capital Markets and Roth Capital Partners serving as underwriters.

Thrivent Financial for Lutherans, holding a 10% equity position in Gloo Holdings Inc., has systematically reduced its stake through a series of three separate transactions last week. The institution sold an aggregate value of $91,581 in Class A Common Stock, moving a total of 21,000 shares. The execution prices for these divestments ranged between $4.21 and $4.5434 per share. This activity unfolds against a backdrop of depressed equity valuations, with the stock currently trading at $4.36, hovering near its 52-week low of $4.20. Over the preceding six-month period, the equity has contracted by 32%, a decline that contrasts sharply with analyst assessments suggesting the stock is undervalued at current levels. Independent analysis indicates a potential range of $10 to $17 as realistic price targets.

The divestment process began on June 24, 2026, when Thrivent Financial offloaded 3,800 shares. These specific units were transacted across multiple price points, settling between $4.53 and $4.67 per share. The following day, June 25, 2026, the institution executed a second transaction, selling 1,600 additional shares at a fixed price of $4.21 per share. The final leg of this reduction occurred on June 26, 2026, involving a larger block of 15,600 shares. These final units were sold through multiple transactions at prices ranging from $4.31 to $4.38 per share. Following the completion of these sales, Thrivent Financial for Lutherans retains a direct holding of 4,663,000 shares of Gloo Holdings Class A Common Stock.

Concurrently, Gloo Holdings has reported robust financial performance for the first quarter of 2026, with revenue surging to $41.5 million. This figure represents a 238% increase compared to the same period last year and exceeds analyst forecasts by 15.28%. Despite reporting a negative earnings per share of -$0.21, the substantial revenue growth has positively influenced investor sentiment. In response to this execution, Benchmark has raised its price target for Gloo Holdings to $15.00, up from $14.00, while maintaining a Buy rating. The firm cites continued strong execution as the primary driver for this adjustment.

Furthermore, Gloo Holdings has filed a registration statement with the Securities and Exchange Commission for a public offering of Class A common stock. The specific number of shares and pricing details for this offering remain undisclosed. Citizens Capital Markets and Roth Capital Partners are underwriting this public offering. These developments highlight significant recent activities surrounding Gloo Holdings, including its transition toward broader public capital markets.

Risks

  • The stock has declined 32% over the past six months and trades near its 52-week low of $4.20, indicating potential market weakness despite analyst undervaluation assessments.
  • Gloo Holdings reported a negative earnings per share of -$0.21 in Q1 2026, highlighting ongoing profitability challenges despite strong revenue growth.
  • The public offering details remain undisclosed, creating uncertainty regarding the number of shares and pricing, which could impact existing shareholders.

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