15,471 Shares in GitLab Inc. (NASDAQ:GTLB) Acquired by Natixis Advisors LLC

Natixis Advisors LLC bought a new stake in shares of GitLab Inc. (NASDAQ:GTLB - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 15,471 shares of the company's stock, valued at approximately $727,000.

Several other institutional investors have also recently made changes to their positions in GTLB. ARK Investment Management LLC increased its stake in GitLab by 109.1% during the 1st quarter. ARK Investment Management LLC now owns 2,426,332 shares of the company's stock valued at $114,038,000 after purchasing an additional 1,265,830 shares in the last quarter. Ameriprise Financial Inc. increased its stake in GitLab by 276.9% during the 4th quarter. Ameriprise Financial Inc. now owns 2,155,016 shares of the company's stock valued at $121,435,000 after purchasing an additional 1,583,221 shares in the last quarter. Bank of America Corp DE increased its holdings in GitLab by 78.1% in the 4th quarter. Bank of America Corp DE now owns 1,423,487 shares of the company's stock worth $80,213,000 after buying an additional 624,235 shares in the last quarter. Nikko Asset Management Americas Inc. increased its holdings in GitLab by 175.1% in the 1st quarter. Nikko Asset Management Americas Inc. now owns 1,396,613 shares of the company's stock worth $65,529,000 after buying an additional 888,900 shares in the last quarter. Finally, First Trust Advisors LP increased its holdings in GitLab by 2.3% in the 4th quarter. First Trust Advisors LP now owns 1,354,477 shares of the company's stock worth $76,325,000 after buying an additional 30,083 shares in the last quarter. Institutional investors own 95.04% of the company's stock.

GitLab Stock Up 1.1%

GitLab stock traded up $0.43 during midday trading on Tuesday, reaching $39.25. 3,792,811 shares of the stock traded hands, compared to its average volume of 3,649,323. The stock's fifty day moving average is $44.39 and its 200-day moving average is $50.32. GitLab Inc. has a 12 month low of $37.90 and a 12 month high of $74.18. The stock has a market cap of $6.48 billion, a P/E ratio of 392.50 and a beta of 0.73.

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

Analyst Ratings Changes

Several research firms recently commented on GTLB. Canaccord Genuity Group reduced their price objective on GitLab from $78.00 to $76.00 and set a "buy" rating for the company in a report on Thursday, June 12th. Truist Financial reaffirmed a "buy" rating and issued a $75.00 price objective (down previously from $80.00) on shares of GitLab in a report on Wednesday, June 11th. Wells Fargo & Company cut their price objective on GitLab from $65.00 to $60.00 and set an "overweight" rating for the company in a report on Wednesday, June 11th. BTIG Research cut their price objective on GitLab from $86.00 to $67.00 and set a "buy" rating for the company in a report on Wednesday, June 11th. Finally, Scotiabank cut their price objective on GitLab from $80.00 to $67.00 and set a "sector outperform" rating for the company in a report on Friday, June 6th. Five equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, GitLab currently has a consensus rating of "Moderate Buy" and a consensus target price of $62.63.

Insider Transactions at GitLab

In other news, Director Matthew Jacobson sold 129,400 shares of the firm's stock in a transaction dated Wednesday, June 25th. The shares were 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 owned 551,997 shares in the company, valued at approximately $23,360,513.04. This trade represents a 18.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sytse Sijbrandij sold 108,600 shares of GitLab stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $43.33, for a total value of $4,705,638.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 464,950 shares of company stock worth $20,901,423. 21.36% of the stock is currently owned by insiders.

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.