Blair William & Co. IL Grows Stock Holdings in GitLab Inc. (NASDAQ:GTLB)

Blair William & Co. IL grew its holdings in GitLab Inc. (NASDAQ:GTLB) by 1.9% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 42,151 shares of the company’s stock after buying an additional 769 shares during the period. Blair William & Co. IL’s holdings in GitLab were worth $2,096,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in GTLB. Allspring Global Investments Holdings LLC raised its stake in shares of GitLab by 2,107.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 574 shares of the company’s stock valued at $33,000 after acquiring an additional 548 shares during the period. Banque Cantonale Vaudoise purchased a new position in shares of GitLab in the 1st quarter worth approximately $58,000. Future Financial Wealth Managment LLC purchased a new position in GitLab in the first quarter worth $58,000. Quarry LP grew its stake in GitLab by 75.1% during the 4th quarter. Quarry LP now owns 1,166 shares of the company’s stock worth $73,000 after buying an additional 500 shares during the last quarter. Finally, Tucker Asset Management LLC purchased a new stake in shares of GitLab during the fourth quarter worth about $83,000. 91.72% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on GTLB. Scotiabank upped their target price on GitLab from $59.00 to $65.00 and gave the company a “sector outperform” rating in a research report on Wednesday, September 4th. JPMorgan Chase & Co. dropped their target price on GitLab from $55.00 to $50.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 4th. Wells Fargo & Company lifted their price target on shares of GitLab from $70.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday, September 4th. BTIG Research raised their price target on shares of GitLab from $58.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. Finally, TD Cowen upped their target price on shares of GitLab from $58.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Four investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $66.05.

Insider Transactions at GitLab

In other GitLab news, Director Merline Saintil sold 1,329 shares of GitLab stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $44.28, for a total value of $58,848.12. Following the sale, the director now owns 7,040 shares of the company’s stock, valued at approximately $311,731.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Merline Saintil sold 1,329 shares of the stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $44.28, for a total transaction of $58,848.12. Following the completion of the transaction, the director now directly owns 7,040 shares of the company’s stock, valued at approximately $311,731.20. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Sytse Sijbrandij sold 56,000 shares of GitLab stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $48.99, for a total value of $2,743,440.00. The disclosure for this sale can be found here. Insiders have sold a total of 134,548 shares of company stock worth $6,759,283 over the last ninety days. 21.36% of the stock is currently owned by company insiders.

GitLab Trading Up 2.2 %

Shares of GTLB opened at $53.18 on Tuesday. The firm has a market cap of $8.45 billion, a PE ratio of -19.34 and a beta of 0.44. The company’s 50 day simple moving average is $49.44 and its 200-day simple moving average is $51.60. GitLab Inc. has a 12-month low of $40.19 and a 12-month high of $78.53.

GitLab (NASDAQ:GTLB) last issued its quarterly earnings results on Tuesday, September 3rd. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.05. GitLab had a negative return on equity of 15.40% and a negative net margin of 54.62%. The firm had revenue of $182.58 million for the quarter, compared to analysts’ expectations of $176.86 million. During the same quarter in the previous year, the firm posted ($0.29) EPS. The firm’s revenue for the quarter was up 30.8% on a year-over-year basis. As a group, equities research analysts forecast that GitLab Inc. will post -0.41 EPS for the current fiscal year.

GitLab Profile

GitLab Inc, through its subsidiaries, develops software for the software development lifecycle in the United States, Europe, and the Asia Pacific. It offers GitLab, a DevOps platform, which is a single application that leads to faster cycle time and allows visibility throughout and control over various stages of the DevOps lifecycle.