105,775 Shares in GitLab Inc. (NASDAQ:GTLB) Acquired by Universal Beteiligungs und Servicegesellschaft mbH

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH has acquired 105,775 shares in GitLab Inc., valued at approximately $4.97 million, representing 0.07% of the company's stock.
• Insider trading activity includes director Sytse Sijbrandij selling 108,600 shares for about $4.7 million, while director Matthew Jacobson sold 129,400 shares valued at around $5.5 million.
• Research analysts have a consensus rating of "Moderate Buy" for GitLab, with a target price averaging $62.63, despite varied adjustments from different firms due to recent market fluctuations.

Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in GitLab Inc. (NASDAQ:GTLB - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 105,775 shares of the company's stock, valued at approximately $4,971,000. Universal Beteiligungs und Servicegesellschaft mbH owned approximately 0.07% of GitLab as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of GTLB. GAMMA Investing LLC boosted its position in shares of GitLab by 9,968.3% during the 1st quarter. GAMMA Investing LLC now owns 43,193 shares of the company's stock valued at $2,030,000 after acquiring an additional 42,764 shares during the last quarter. Park Avenue Securities LLC boosted its position in shares of GitLab by 5.3% during the 1st quarter. Park Avenue Securities LLC now owns 7,601 shares of the company's stock valued at $357,000 after acquiring an additional 381 shares during the last quarter. Wealthcare Advisory Partners LLC lifted its position in GitLab by 19.3% in the first quarter. Wealthcare Advisory Partners LLC now owns 6,578 shares of the company's stock valued at $309,000 after buying an additional 1,065 shares during the last quarter. Cambridge Investment Research Advisors Inc. acquired a new position in GitLab in the first quarter valued at about $200,000. Finally, American Century Companies Inc. lifted its position in GitLab by 314.9% in the fourth quarter. American Century Companies Inc. now owns 38,734 shares of the company's stock valued at $2,183,000 after buying an additional 29,399 shares during the last quarter. Hedge funds and other institutional investors own 95.04% of the company's stock.

Insider Transactions at GitLab

In other news, Director Matthew Jacobson sold 129,400 shares of the company's stock in a transaction 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 completion of the sale, the director directly owned 551,997 shares of the company's stock, valued at $23,360,513.04. This represents a 18.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Brian G. Robins sold 45,000 shares of GitLab stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $53.04, for a total value of $2,386,800.00. Following the completion of the transaction, the chief financial officer directly owned 344,105 shares in the company, valued at $18,251,329.20. This represents a 11.57% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 509,950 shares of company stock worth $23,288,223. Corporate insiders own 16.37% of the company's stock.

GitLab Stock Performance

Shares of NASDAQ:GTLB traded down $0.94 during trading on Thursday, reaching $45.23. 1,809,374 shares of the stock were exchanged, compared to its average volume of 3,403,764. GitLab Inc. has a 12-month low of $37.90 and a 12-month high of $74.18. The firm has a market cap of $7.47 billion, a price-to-earnings ratio of 451.57 and a beta of 0.74. The firm's 50-day moving average price is $45.25 and its 200 day moving average price is $51.71.

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, beating analysts' consensus estimates of $0.15 by $0.02. The company 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 4.07% and a net margin of 2.17%. GitLab's quarterly revenue was up 26.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.03 EPS. As a group, equities research analysts forecast that GitLab Inc. will post -0.31 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have commented on GTLB. Rosenblatt Securities began coverage on shares of GitLab in a research report on Tuesday, July 15th. They issued a "buy" rating and a $58.00 target price on the stock. Macquarie reaffirmed an "outperform" rating and issued a $75.00 target price on shares of GitLab in a research report on Wednesday, June 25th. KeyCorp decreased their target price on shares of GitLab from $80.00 to $60.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Wells Fargo & Company reduced their price target on shares of GitLab from $65.00 to $60.00 and set an "overweight" rating on the stock in a research report on Wednesday, June 11th. Finally, JPMorgan Chase & Co. reduced their target price on shares of GitLab from $58.00 to $52.00 and set a "neutral" rating on the stock in a report on Wednesday, June 11th. Five investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, GitLab has an average rating of "Moderate Buy" and a consensus price target of $62.63.

About GitLab

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.