Versor Investments LP purchased a new stake in GitLab Inc. (NASDAQ:GTLB - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 34,000 shares of the company's stock, valued at approximately $1,752,000.
Several other large investors also recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC increased its holdings in GitLab by 2,107.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 574 shares of the company's stock worth $33,000 after purchasing an additional 548 shares in the last quarter. Future Financial Wealth Managment LLC bought a new position in shares of GitLab during the third quarter worth about $52,000. Quarry LP lifted its stake in GitLab by 527.0% in the 2nd quarter. Quarry LP now owns 1,787 shares of the company's stock valued at $89,000 after acquiring an additional 1,502 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in GitLab during the 3rd quarter worth approximately $96,000. Finally, Canton Hathaway LLC grew its stake in shares of GitLab by 26.3% during the 2nd quarter. Canton Hathaway LLC now owns 2,086 shares of the company's stock worth $104,000 after acquiring an additional 435 shares in the last quarter. Institutional investors own 91.72% of the company's stock.
NASDAQ:GTLB traded up $1.18 during trading hours on Monday, hitting $61.68. The company's stock had a trading volume of 181,813 shares, compared to its average volume of 2,339,433. GitLab Inc. has a twelve month low of $40.72 and a twelve month high of $78.53. The stock has a fifty day simple moving average of $53.57 and a 200-day simple moving average of $51.07. The company has a market capitalization of $9.90 billion, a P/E ratio of -25.85 and a beta of 0.45.
GitLab (NASDAQ:GTLB - Get Free Report) last announced its quarterly earnings results on Tuesday, September 3rd. The company reported $0.15 EPS for the quarter, beating analysts' consensus estimates of $0.10 by $0.05. The company had revenue of $182.58 million during the quarter, compared to analysts' expectations of $176.86 million. GitLab had a negative return on equity of 15.40% and a negative net margin of 54.62%. GitLab's revenue was up 30.8% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.29) EPS. On average, equities analysts predict that GitLab Inc. will post -0.41 EPS for the current fiscal year.
In related news, CAO Erin Mannix sold 1,433 shares of the firm's stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $52.80, for a total transaction of $75,662.40. Following the completion of the transaction, the chief accounting officer now directly owns 72,448 shares of the company's stock, valued at $3,825,254.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Brian G. Robins sold 16,666 shares of the firm's stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $56.74, for a total transaction of $945,628.84. Following the completion of the sale, the chief financial officer now owns 242,803 shares of the company's stock, valued at $13,776,642.22. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Erin Mannix sold 1,433 shares of the stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $52.80, for a total value of $75,662.40. Following the transaction, the chief accounting officer now owns 72,448 shares in the company, valued at $3,825,254.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 97,007 shares of company stock worth $5,320,233 in the last quarter. 21.36% of the stock is owned by insiders.
A number of brokerages have recently commented on GTLB. Wells Fargo & Company boosted their price objective on shares of GitLab from $70.00 to $75.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 4th. Barclays increased their price objective on shares of GitLab from $50.00 to $55.00 and gave the stock an "equal weight" rating in a research note on Thursday, September 5th. BTIG Research upped their target price on GitLab from $58.00 to $63.00 and gave the stock a "buy" rating in a report on Wednesday, September 4th. DA Davidson reissued a "neutral" rating and set a $50.00 price target on shares of GitLab in a research report on Monday, October 14th. Finally, UBS Group boosted their price target on GitLab from $62.00 to $65.00 and gave the stock a "buy" rating in a research report on Wednesday, September 4th. Three research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $66.38.
Read Our Latest Analysis on 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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider GitLab, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and GitLab wasn't on the list.
While GitLab currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.