GitLab Inc. (NASDAQ:GTLB) Shares Purchased by Park Avenue Securities LLC

Park Avenue Securities LLC raised its position in GitLab Inc. (NASDAQ:GTLB) by 21.6% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 4,995 shares of the company’s stock after buying an additional 887 shares during the quarter. Park Avenue Securities LLC’s holdings in GitLab were worth $257,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. Quarry LP increased its stake in shares of GitLab by 75.1% during the fourth quarter. Quarry LP now owns 1,166 shares of the company’s stock worth $73,000 after acquiring an additional 500 shares during the period. Tucker Asset Management LLC purchased a new position in shares of GitLab during the 4th quarter worth approximately $83,000. Wellington Management Group LLP lifted its holdings in shares of GitLab by 25.8% in the 4th quarter. Wellington Management Group LLP now owns 791,356 shares of the company’s stock valued at $49,824,000 after buying an additional 162,369 shares during the period. Vanguard Group Inc. boosted its stake in shares of GitLab by 12.9% in the fourth quarter. Vanguard Group Inc. now owns 9,388,440 shares of the company’s stock valued at $591,096,000 after buying an additional 1,070,994 shares in the last quarter. Finally, Quadrature Capital Ltd purchased a new stake in shares of GitLab in the fourth quarter valued at approximately $905,000. Hedge funds and other institutional investors own 91.72% of the company’s stock.

GitLab Trading Up 0.7 %

Shares of NASDAQ:GTLB opened at $54.73 on Monday. The firm has a market cap of $8.70 billion, a price-to-earnings ratio of -19.90 and a beta of 0.46. The stock’s 50-day moving average price is $49.25 and its two-hundred day moving average price is $51.05. GitLab Inc. has a 12-month low of $40.19 and a 12-month high of $78.53.

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

Insider Activity at GitLab

In other GitLab news, CFO Brian G. Robins sold 23,332 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $49.24, for a total transaction of $1,148,867.68. Following the completion of the sale, the chief financial officer now directly owns 259,109 shares in the company, valued at $12,758,527.16. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other GitLab news, CFO Brian G. Robins sold 23,332 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $49.24, for a total transaction of $1,148,867.68. Following the completion of the sale, the chief financial officer now directly owns 259,109 shares in the company, valued at $12,758,527.16. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Robin Schulman sold 2,402 shares of the firm’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $56.25, for a total transaction of $135,112.50. Following the completion of the transaction, the insider now directly owns 142,933 shares in the company, valued at approximately $8,039,981.25. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 51,255 shares of company stock worth $2,667,852. 21.36% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have commented on GTLB. Cantor Fitzgerald reissued an “overweight” rating and issued a $55.00 target price on shares of GitLab in a report on Monday, August 19th. BTIG Research boosted their price objective on shares of GitLab from $58.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Bank of America increased their target price on shares of GitLab from $66.00 to $68.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. UBS Group boosted their price target on GitLab from $62.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $50.00 price objective on shares of GitLab in a research note on Thursday, August 29th. Four analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $66.22.

GitLab Company 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.