New York State Common Retirement Fund Has $27.63 Million Stock Holdings in GitLab Inc. (NASDAQ:GTLB)

New York State Common Retirement Fund boosted its position in shares of GitLab Inc. (NASDAQ:GTLB - Free Report) by 5.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 587,934 shares of the company's stock after acquiring an additional 30,011 shares during the quarter. New York State Common Retirement Fund owned 0.36% of GitLab worth $27,633,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of GTLB. EverSource Wealth Advisors LLC boosted its stake in shares of GitLab by 5,700.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 522 shares of the company's stock valued at $29,000 after buying an additional 513 shares during the period. Cloud Capital Management LLC purchased a new position in shares of GitLab in the 1st quarter valued at approximately $29,000. CoreCap Advisors LLC grew its stake in shares of GitLab by 327.5% in the 4th quarter. CoreCap Advisors LLC now owns 590 shares of the company's stock valued at $33,000 after purchasing an additional 452 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of GitLab by 114.2% in the 1st quarter. GAMMA Investing LLC now owns 919 shares of the company's stock valued at $43,000 after purchasing an additional 490 shares during the last quarter. Finally, IMG Wealth Management Inc. purchased a new stake in shares of GitLab in the fourth quarter valued at approximately $46,000. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Karen Blasing sold 3,250 shares of the business's stock in a transaction on Friday, June 27th. The stock was sold at an average price of $45.00, for a total value of $146,250.00. Following the sale, the director owned 110,389 shares of the company's stock, valued at approximately $4,967,505. The trade was a 2.86% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Matthew Jacobson sold 129,400 shares of the business's stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $42.32, for a total value of $5,476,208.00. Following the completion of the sale, the director directly owned 551,997 shares in the company, valued at $23,360,513.04. This represents a 18.99% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 401,350 shares of company stock worth $18,582,585. 16.37% of the stock is owned by company insiders.

GitLab Stock Performance

Shares of NASDAQ GTLB traded down $0.33 during trading on Wednesday, reaching $42.57. The stock had a trading volume of 3,860,481 shares, compared to its average volume of 2,883,080. GitLab Inc. has a one year low of $37.90 and a one year high of $74.18. The stock has a market cap of $7.03 billion, a PE ratio of 425.70 and a beta of 0.74. The firm's 50 day moving average price is $46.13 and its two-hundred day moving average price is $52.58.

GitLab (NASDAQ:GTLB - Get Free Report) last released its quarterly earnings data on Tuesday, June 10th. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.15 by $0.02. GitLab had a negative return on equity of 4.07% and a net margin of 2.17%. The business had revenue of $214.51 million during the quarter, compared to analyst estimates of $213.21 million. During the same quarter in the previous year, the firm posted $0.03 EPS. The business's revenue for the quarter was up 26.8% compared to the same quarter last year. On average, research analysts expect that GitLab Inc. will post -0.31 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on GTLB shares. Cantor Fitzgerald decreased their price target on GitLab from $70.00 to $60.00 and set an "overweight" rating on the stock in a research note on Wednesday, June 11th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $62.00 price objective on shares of GitLab in a research note on Wednesday, June 25th. Piper Sandler reissued an "overweight" rating and issued a $85.00 price target on shares of GitLab in a research note on Wednesday, June 11th. Needham & Company LLC decreased their price target on GitLab from $85.00 to $55.00 and set a "buy" rating on the stock in a research note on Wednesday, June 11th. Finally, The Goldman Sachs Group restated a "neutral" rating and issued a $50.00 price objective on shares of GitLab in a report on Tuesday, June 24th. Five 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. According to MarketBeat, GitLab presently has a consensus rating of "Moderate Buy" and an average price target of $62.63.

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.