Union Bancaire Privee UBP SA Has $4.47 Million Stock Holdings in GitLab Inc. (NASDAQ:GTLB)

Union Bancaire Privee UBP SA boosted its holdings in GitLab Inc. (NASDAQ:GTLB - Free Report) by 46.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 96,854 shares of the company's stock after acquiring an additional 30,548 shares during the quarter. Union Bancaire Privee UBP SA owned 0.06% of GitLab worth $4,471,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the company. M&T Bank Corp grew its position in shares of GitLab by 3.1% during the 4th quarter. M&T Bank Corp now owns 4,965 shares of the company's stock valued at $280,000 after purchasing an additional 148 shares in the last quarter. Wilmington Savings Fund Society FSB grew its position in GitLab by 7.9% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 2,050 shares of the company's stock worth $116,000 after acquiring an additional 150 shares in the last quarter. OneDigital Investment Advisors LLC grew its position in GitLab by 4.3% in the fourth quarter. OneDigital Investment Advisors LLC now owns 4,047 shares of the company's stock worth $228,000 after acquiring an additional 166 shares in the last quarter. Utah Retirement Systems grew its position in GitLab by 3.1% in the fourth quarter. Utah Retirement Systems now owns 6,600 shares of the company's stock worth $372,000 after acquiring an additional 200 shares in the last quarter. Finally, Mariner LLC grew its position in GitLab by 1.7% in the fourth quarter. Mariner LLC now owns 12,583 shares of the company's stock worth $709,000 after acquiring an additional 214 shares in the last quarter. Institutional investors own 95.04% of the company's stock.

Analyst Upgrades and Downgrades

GTLB has been the subject of several research reports. Needham & Company LLC cut their target price on shares of GitLab from $85.00 to $55.00 and set a "buy" rating for the company in a research report on Wednesday. Canaccord Genuity Group lowered their price target on shares of GitLab from $78.00 to $76.00 and set a "buy" rating for the company in a research note on Thursday. Morgan Stanley upped their price objective on shares of GitLab from $53.00 to $56.00 and gave the company an "overweight" rating in a research note on Wednesday. Macquarie decreased their price target on shares of GitLab from $90.00 to $75.00 and set an "outperform" rating for the company in a research note on Wednesday. Finally, Barclays dropped their price target on GitLab from $58.00 to $47.00 and set an "equal weight" rating on the stock in a research report on Wednesday. Four equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $63.59.

Insider Transactions at GitLab

In other GitLab news, Director Matthew Jacobson sold 152,884 shares of the stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $52.34, for a total value of $8,001,948.56. Following the transaction, the director now owns 493,554 shares of the company's stock, valued at approximately $25,832,616.36. This represents a 23.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Susan L. Bostrom sold 40,000 shares of the firm's stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $51.88, for a total transaction of $2,075,200.00. Following the sale, the director now owns 144,913 shares in the company, valued at $7,518,086.44. This trade represents a 21.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 461,584 shares of company stock valued at $23,192,574 over the last quarter. Company insiders own 16.37% of the company's stock.

GitLab Stock Performance

GitLab stock traded up $0.34 during trading on Thursday, reaching $43.71. 8,673,797 shares of the company's stock were exchanged, compared to its average volume of 2,728,042. The firm has a market cap of $7.17 billion, a price-to-earnings ratio of -136.59 and a beta of 0.75. GitLab Inc. has a 52-week low of $37.90 and a 52-week high of $74.18. The company's 50-day moving average is $46.42 and its two-hundred day moving average is $55.73.

GitLab (NASDAQ:GTLB - Get Free Report) last issued its earnings results on Tuesday, June 10th. The company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.02. The firm had revenue of $214.51 million for the quarter, compared to analyst estimates of $213.21 million. GitLab had a negative return on equity of 11.72% and a negative net margin of 6.83%. The firm's revenue for the quarter was up 26.8% on a year-over-year basis. During the same period last year, the company earned $0.03 earnings per share. Analysts anticipate that GitLab Inc. will post -0.31 EPS for the current 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.