Focus Partners Wealth boosted its position in GitLab Inc. (NASDAQ:GTLB - Free Report) by 42.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 252,586 shares of the company's stock after acquiring an additional 75,331 shares during the period. Focus Partners Wealth owned 0.16% of GitLab worth $11,871,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. True Wealth Design LLC raised its position in shares of GitLab by 20.0% during the fourth quarter. True Wealth Design LLC now owns 1,297 shares of the company's stock worth $73,000 after purchasing an additional 216 shares during the period. MetLife Investment Management LLC increased its stake in GitLab by 3.2% during the 1st quarter. MetLife Investment Management LLC now owns 7,762 shares of the company's stock valued at $365,000 after purchasing an additional 242 shares in the last quarter. Cullen Frost Bankers Inc. raised its holdings in GitLab by 174.9% during the first quarter. Cullen Frost Bankers Inc. now owns 525 shares of the company's stock worth $25,000 after buying an additional 334 shares during the last quarter. Park Avenue Securities LLC lifted its stake in shares of GitLab by 5.3% in the first quarter. Park Avenue Securities LLC now owns 7,601 shares of the company's stock valued at $357,000 after buying an additional 381 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of GitLab by 114.2% in the first quarter. GAMMA Investing LLC now owns 919 shares of the company's stock valued at $43,000 after buying an additional 490 shares in the last quarter. Institutional investors own 95.04% of the company's stock.
Insider Buying and Selling
In other GitLab news, Director Karen Blasing sold 3,250 shares of the business's stock in a transaction on Monday, August 18th. The stock was sold at an average price of $45.00, for a total value of $146,250.00. Following the sale, the director directly owned 103,889 shares in the company, valued at $4,675,005. The trade was a 3.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Sytse Sijbrandij sold 108,600 shares of the company's stock in a transaction on Monday, August 18th. The shares were sold at an average price of $45.16, for a total value of $4,904,376.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 608,155 shares of company stock valued at $26,727,350. 16.37% of the stock is owned by company insiders.
Analyst Ratings Changes
Several research firms have recently commented on GTLB. FBN Securities raised shares of GitLab to a "strong-buy" rating in a research report on Thursday, September 4th. Cantor Fitzgerald reissued an "overweight" rating and issued a $60.00 price objective on shares of GitLab in a research note on Thursday, September 4th. DA Davidson dropped their target price on GitLab from $50.00 to $45.00 and set a "neutral" rating on the stock in a report on Thursday, September 4th. Zacks Research upgraded GitLab from a "strong sell" rating to a "hold" rating in a report on Tuesday. Finally, Macquarie reaffirmed an "outperform" rating and set a $75.00 price objective on shares of GitLab in a report on Thursday, September 4th. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $58.88.
Check Out Our Latest Stock Report on GitLab
GitLab Stock Performance
GTLB opened at $50.30 on Friday. GitLab Inc. has a fifty-two week low of $37.90 and a fifty-two week high of $74.18. The firm has a 50-day moving average of $45.13 and a 200 day moving average of $46.80. The firm has a market cap of $8.31 billion, a P/E ratio of -1,257.50 and a beta of 0.75.
GitLab (NASDAQ:GTLB - Get Free Report) last released its earnings results on Tuesday, June 10th. The company reported $0.17 earnings per share for the quarter, beating analysts' consensus estimates of $0.15 by $0.02. GitLab had a negative net margin of 0.55% and a negative return on equity of 2.71%. The firm had revenue of $214.51 million for the quarter, compared to analysts' expectations of $213.21 million. During the same period in the previous year, the company earned $0.03 earnings per share. The company's quarterly revenue was up 26.8% on a year-over-year basis. Equities research analysts predict that GitLab Inc. will post -0.31 earnings per share for the current fiscal year.
GitLab Profile
(
Free Report)
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.
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