Sanctuary Advisors LLC Buys New Shares in GitLab Inc. (NASDAQ:GTLB)

Sanctuary Advisors LLC bought a new stake in shares of GitLab Inc. (NASDAQ:GTLB) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 4,003 shares of the company’s stock, valued at approximately $199,000.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of GitLab by 12.9% during the 4th 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. Capital Research Global Investors increased its holdings in GitLab by 78.5% in the 1st quarter. Capital Research Global Investors now owns 7,040,410 shares of the company’s stock valued at $410,597,000 after acquiring an additional 3,096,437 shares during the last quarter. Fiera Capital Corp increased its holdings in GitLab by 1.2% in the 2nd quarter. Fiera Capital Corp now owns 1,242,468 shares of the company’s stock valued at $61,776,000 after acquiring an additional 14,687 shares during the last quarter. Renaissance Technologies LLC increased its holdings in GitLab by 168.8% in the 2nd quarter. Renaissance Technologies LLC now owns 1,190,582 shares of the company’s stock valued at $59,196,000 after acquiring an additional 747,712 shares during the last quarter. Finally, Westfield Capital Management Co. LP bought a new stake in GitLab in the 1st quarter valued at $49,196,000. Hedge funds and other institutional investors own 91.72% of the company’s stock.

Insider Buying and Selling at GitLab

In other GitLab news, CEO Sytse Sijbrandij sold 56,000 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $54.68, for a total value of $3,062,080.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Brian G. Robins sold 23,332 shares of the company’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 value of $1,148,867.68. Following the completion of the sale, the chief financial officer now owns 259,109 shares of the company’s stock, valued at approximately $12,758,527.16. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sytse Sijbrandij sold 56,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $54.68, for a total transaction of $3,062,080.00. The disclosure for this sale can be found here. Insiders sold a total of 103,673 shares of company stock valued at $5,523,472 in the last three months. Company insiders own 21.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on GTLB shares. Baird R W upgraded shares of GitLab to a “strong-buy” rating in a report on Tuesday, August 27th. Scotiabank lifted their price target on shares of GitLab from $59.00 to $65.00 and gave the company a “sector outperform” rating in a report on Wednesday, September 4th. BTIG Research lifted their price target on shares of GitLab from $58.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. DA Davidson reiterated a “neutral” rating and issued a $50.00 price target on shares of GitLab in a report on Monday, October 14th. Finally, Royal Bank of Canada boosted their target price on shares of GitLab from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Wednesday, September 4th. Four equities research 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 data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $66.22.

GitLab Trading Up 1.7 %

Shares of NASDAQ:GTLB opened at $55.34 on Monday. The company has a market capitalization of $8.79 billion, a price-to-earnings ratio of -20.12 and a beta of 0.46. GitLab Inc. has a 12 month low of $40.19 and a 12 month high of $78.53. The firm’s 50-day moving average is $50.49 and its 200 day moving average is $50.97.

GitLab (NASDAQ:GTLB) last released its quarterly earnings data 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. The company had revenue of $182.58 million during the quarter, compared to analysts’ expectations of $176.86 million. GitLab had a negative net margin of 54.62% and a negative return on equity of 15.40%. The firm’s quarterly revenue was up 30.8% on a year-over-year basis. During the same period in the previous year, the company earned ($0.29) EPS. As a group, equities analysts forecast that GitLab Inc. will post -0.41 EPS for the current fiscal year.

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.