GitLab Inc. (NASDAQ:GTLB) Shares Bought by New York State Common Retirement Fund

New York State Common Retirement Fund grew its holdings in GitLab Inc. (NASDAQ:GTLB - Free Report) by 7.5% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 391,757 shares of the company's stock after buying an additional 27,480 shares during the period. New York State Common Retirement Fund owned 0.25% of GitLab worth $24,665,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of GitLab by 6.8% in the third quarter. Vanguard Group Inc. now owns 8,317,446 shares of the company's stock valued at $376,115,000 after buying an additional 530,702 shares during the last quarter. Invesco Ltd. raised its holdings in GitLab by 71.3% during the third quarter. Invesco Ltd. now owns 4,236,833 shares of the company's stock worth $191,590,000 after purchasing an additional 1,762,944 shares in the last quarter. Fiera Capital Corp raised its holdings in GitLab by 2.1% during the third quarter. Fiera Capital Corp now owns 1,194,371 shares of the company's stock worth $54,009,000 after purchasing an additional 24,652 shares in the last quarter. Wellington Management Group LLP raised its holdings in GitLab by 280.3% during the third quarter. Wellington Management Group LLP now owns 628,987 shares of the company's stock worth $28,443,000 after purchasing an additional 463,584 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in GitLab by 23.8% during the third quarter. Bank of New York Mellon Corp now owns 500,196 shares of the company's stock worth $22,619,000 after purchasing an additional 96,322 shares in the last quarter. 91.72% of the stock is owned by hedge funds and other institutional investors.

GitLab Trading Down 1.0 %

Shares of GTLB stock traded down $0.55 during trading hours on Friday, hitting $55.46. The company's stock had a trading volume of 1,675,171 shares, compared to its average volume of 1,618,262. The business has a fifty day moving average of $59.87 and a 200-day moving average of $58.33. The stock has a market cap of $8.80 billion, a price-to-earnings ratio of -20.17 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 announced its quarterly earnings data on Monday, March 4th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.07. The business had revenue of $163.80 million for the quarter, compared to the consensus estimate of $157.89 million. GitLab had a negative net margin of 73.14% and a negative return on equity of 18.26%. The company's quarterly revenue was up 33.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.26) earnings per share. On average, equities analysts expect that GitLab Inc. will post -0.96 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Wells Fargo & Company assumed coverage on shares of GitLab in a report on Tuesday, April 9th. They set an "overweight" rating and a $70.00 price target for the company. Raymond James raised shares of GitLab from a "market perform" rating to an "outperform" rating and set a $70.00 price target for the company in a report on Friday, April 12th. Capital One Financial assumed coverage on shares of GitLab in a report on Friday, March 22nd. They set an "overweight" rating and a $72.00 price target for the company. Truist Financial restated a "buy" rating and set a $80.00 target price on shares of GitLab in a research report on Monday, April 1st. Finally, UBS Group lowered their target price on shares of GitLab from $81.00 to $75.00 and set a "buy" rating on the stock in a research report on Tuesday, March 5th. Three investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $70.73.

Insider Activity at GitLab

In related news, CAO Erin Mannix sold 958 shares of the company's stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $59.53, for a total transaction of $57,029.74. Following the transaction, the chief accounting officer now owns 74,908 shares of the company's stock, valued at $4,459,273.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other GitLab news, CFO Brian G. Robins sold 13,000 shares of the stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $72.56, for a total transaction of $943,280.00. Following the transaction, the chief financial officer now owns 319,300 shares of the company's stock, valued at $23,168,408. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Erin Mannix sold 958 shares of the stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $59.53, for a total transaction of $57,029.74. Following the transaction, the chief accounting officer now directly owns 74,908 shares in the company, valued at approximately $4,459,273.24. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 492,638 shares of company stock valued at $28,048,607. Company insiders own 28.04% of the company's stock.

GitLab 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.