GitLab Inc. (NASDAQ:GTLB) Stock Holdings Lifted by CloudAlpha Capital Management Limited Hong Kong

CloudAlpha Capital Management Limited Hong Kong raised its stake in GitLab Inc. (NASDAQ:GTLB - Free Report) by 108.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 388,700 shares of the company's stock after buying an additional 202,200 shares during the period. GitLab comprises 2.3% of CloudAlpha Capital Management Limited Hong Kong's holdings, making the stock its 11th biggest holding. CloudAlpha Capital Management Limited Hong Kong owned about 0.25% of GitLab worth $24,473,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of GitLab by 6.8% in the 3rd quarter. Vanguard Group Inc. now owns 8,317,446 shares of the company's stock valued at $376,115,000 after purchasing an additional 530,702 shares in the last quarter. Morgan Stanley raised its holdings in shares of GitLab by 3.0% in the 4th quarter. Morgan Stanley now owns 7,845,971 shares of the company's stock valued at $356,521,000 after purchasing an additional 228,085 shares in the last quarter. Invesco Ltd. raised its stake in shares of GitLab by 71.3% during the 3rd quarter. Invesco Ltd. now owns 4,236,833 shares of the company's stock worth $191,590,000 after acquiring an additional 1,762,944 shares in the last quarter. 1832 Asset Management L.P. raised its stake in shares of GitLab by 152.1% during the 4th quarter. 1832 Asset Management L.P. now owns 3,952,200 shares of the company's stock worth $179,588,000 after acquiring an additional 2,384,500 shares in the last quarter. Finally, BlackRock Inc. raised its stake in shares of GitLab by 7.2% during the 1st quarter. BlackRock Inc. now owns 3,950,657 shares of the company's stock worth $135,468,000 after acquiring an additional 266,048 shares in the last quarter. Institutional investors own 91.72% of the company's stock.

Insiders Place Their Bets

In other news, insider Robin Schulman sold 15,712 shares of the stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $75.02, for a total value of $1,178,714.24. Following the completion of the sale, the insider now directly owns 60,132 shares in the company, valued at $4,511,102.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Robin Schulman sold 15,712 shares of the stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $75.02, for a total value of $1,178,714.24. Following the completion of the sale, the insider now directly owns 60,132 shares in the company, valued at $4,511,102.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Sundeep Bedi sold 9,000 shares of the stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $58.64, for a total transaction of $527,760.00. Following the completion of the sale, the director now owns 8,369 shares of the company's stock, valued at $490,758.16. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 567,638 shares of company stock worth $33,342,857. Company insiders own 28.04% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. TD Cowen reduced their price objective on shares of GitLab from $80.00 to $76.00 and set an "outperform" rating for the company in a research note on Tuesday, March 5th. UBS Group reduced their price objective on shares of GitLab from $81.00 to $75.00 and set a "buy" rating for the company in a research note on Tuesday, March 5th. Sanford C. Bernstein boosted their price objective on shares of GitLab from $71.00 to $76.00 and gave the stock an "outperform" rating in a research note on Tuesday, March 5th. Wells Fargo & Company began coverage on shares of GitLab in a research note on Tuesday, April 9th. They set an "overweight" rating and a $70.00 price objective for the company. Finally, Capital One Financial began coverage on shares of GitLab in a research report on Friday, March 22nd. They set an "overweight" rating and a $72.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $70.73.

GitLab Trading Down 0.6 %

NASDAQ:GTLB traded down $0.35 during trading hours on Wednesday, reaching $53.51. 1,076,268 shares of the company were exchanged, compared to its average volume of 2,669,132. The stock's 50-day moving average is $62.68 and its 200-day moving average is $57.90. The firm has a market cap of $8.49 billion, a PE ratio of -19.46 and a beta of 0.45. GitLab Inc. has a twelve month low of $26.24 and a twelve month high of $78.53.

GitLab (NASDAQ:GTLB - Get Free Report) last posted its quarterly earnings data on Monday, March 4th. The company reported $0.15 earnings per share for the quarter, topping analysts' consensus estimates of $0.08 by $0.07. The company had revenue of $163.80 million during the quarter, compared to analysts' expectations of $157.89 million. GitLab had a negative net margin of 73.14% and a negative return on equity of 18.26%. The firm's revenue for the quarter was up 33.3% on a year-over-year basis. During the same period in the prior year, the business posted ($0.26) earnings per share. As a group, research analysts anticipate that GitLab Inc. will post -0.96 EPS for the current year.

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.