15,807 Shares in GitLab Inc. (NASDAQ:GTLB) Acquired by Princeton Capital Management LLC

Princeton Capital Management LLC purchased a new stake in GitLab Inc. (NASDAQ:GTLB - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm purchased 15,807 shares of the company's stock, valued at approximately $743,000.

A number of other large investors have also bought and sold shares of GTLB. GAMMA Investing LLC raised its holdings in GitLab by 9,968.3% during the 1st quarter. GAMMA Investing LLC now owns 43,193 shares of the company's stock worth $2,030,000 after buying an additional 42,764 shares during the period. Park Avenue Securities LLC lifted its position in GitLab by 5.3% during the 1st quarter. Park Avenue Securities LLC now owns 7,601 shares of the company's stock worth $357,000 after buying an additional 381 shares in the last quarter. Wealthcare Advisory Partners LLC lifted its position in GitLab by 19.3% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 6,578 shares of the company's stock worth $309,000 after buying an additional 1,065 shares in the last quarter. Cambridge Investment Research Advisors Inc. bought a new stake in GitLab during the 1st quarter worth about $200,000. Finally, American Century Companies Inc. lifted its position in GitLab by 314.9% during the 4th quarter. American Century Companies Inc. now owns 38,734 shares of the company's stock worth $2,183,000 after buying an additional 29,399 shares in the last quarter. 95.04% of the stock is owned by institutional investors.

Insider Buying and Selling at GitLab

In other news, CFO Brian G. Robins sold 45,000 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $53.04, for a total transaction of $2,386,800.00. Following the completion of the sale, the chief financial officer owned 344,105 shares of the company's stock, valued at approximately $18,251,329.20. This represents a 11.57% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Matthew Jacobson sold 129,400 shares of the company's stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $42.32, for a total transaction of $5,476,208.00. Following the sale, the director directly owned 551,997 shares of the company's stock, valued at approximately $23,360,513.04. This trade represents a 18.99% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 509,950 shares of company stock worth $23,288,223. 16.37% of the stock is currently owned by company insiders.

GitLab Trading Up 2.4%

Shares of NASDAQ:GTLB traded up $1.10 on Friday, reaching $47.89. 3,159,509 shares of the company's stock were exchanged, compared to its average volume of 3,802,915. The company has a fifty day moving average of $45.35 and a 200-day moving average of $51.99. GitLab Inc. has a twelve month low of $37.90 and a twelve month high of $74.18. The company has a market capitalization of $7.91 billion, a price-to-earnings ratio of 478.90 and a beta of 0.74.

GitLab (NASDAQ:GTLB - Get Free Report) last announced its earnings results on Tuesday, June 10th. The company reported $0.17 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $213.21 million. During the same quarter in the prior year, the business posted $0.03 EPS. The business's revenue was up 26.8% compared to the same quarter last year. As a group, equities research analysts forecast that GitLab Inc. will post -0.31 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on GTLB shares. Capital One Financial cut shares of GitLab from an "overweight" rating to an "equal weight" rating and set a $46.00 price target on the stock. in a research report on Wednesday, July 16th. Piper Sandler reissued an "overweight" rating and issued a $85.00 price objective on shares of GitLab in a report on Wednesday, June 11th. Cowen reissued a "buy" rating on shares of GitLab in a report on Friday, June 6th. JPMorgan Chase & Co. cut their price objective on GitLab from $58.00 to $52.00 and set a "neutral" rating for the company in a report on Wednesday, June 11th. Finally, DA Davidson dropped their target price on shares of GitLab from $60.00 to $45.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Five 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.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $62.63.

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.