Diversified Trust Co Buys 7,860 Shares of GitLab Inc. (NASDAQ:GTLB)

Diversified Trust Co boosted its stake in GitLab Inc. (NASDAQ:GTLB) by 181.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,188 shares of the company’s stock after acquiring an additional 7,860 shares during the period. Diversified Trust Co’s holdings in GitLab were worth $711,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GTLB. Vanguard Personalized Indexing Management LLC increased its stake in shares of GitLab by 5.3% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 5,499 shares of the company’s stock worth $346,000 after purchasing an additional 276 shares during the last quarter. Atria Wealth Solutions Inc. increased its position in GitLab by 2.0% in the fourth quarter. Atria Wealth Solutions Inc. now owns 14,582 shares of the company’s stock worth $918,000 after buying an additional 290 shares during the last quarter. Asset Management One Co. Ltd. raised its stake in shares of GitLab by 2.6% in the fourth quarter. Asset Management One Co. Ltd. now owns 11,900 shares of the company’s stock valued at $769,000 after buying an additional 300 shares during the period. Park Avenue Securities LLC lifted its position in shares of GitLab by 9.6% during the 1st quarter. Park Avenue Securities LLC now owns 3,544 shares of the company’s stock valued at $207,000 after buying an additional 311 shares during the last quarter. Finally, Treasurer of the State of North Carolina grew its stake in shares of GitLab by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 38,900 shares of the company’s stock worth $2,449,000 after acquiring an additional 380 shares during the period. 91.72% of the stock is currently owned by hedge funds and other institutional investors.

GitLab Stock Up 0.8 %

Shares of GTLB stock opened at $51.75 on Wednesday. The business has a 50-day moving average price of $50.59 and a two-hundred day moving average price of $58.90. GitLab Inc. has a 12-month low of $40.19 and a 12-month high of $78.53. The firm has a market cap of $8.22 billion, a P/E ratio of -18.82 and a beta of 0.45.

GitLab (NASDAQ:GTLB) last released its earnings results on Monday, June 3rd. The company reported ($0.24) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.09. The company had revenue of $169.19 million during the quarter, compared to the consensus estimate of $165.66 million. GitLab had a negative return on equity of 19.14% and a negative net margin of 68.52%. As a group, research analysts expect that GitLab Inc. will post -0.5 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Citic Securities assumed coverage on GitLab in a research note on Monday, June 3rd. They issued a “buy” rating and a $80.00 price objective on the stock. Sanford C. Bernstein boosted their price target on shares of GitLab from $71.00 to $76.00 and gave the company an “outperform” rating in a research report on Tuesday, March 5th. Truist Financial restated a “buy” rating and set a $80.00 price target on shares of GitLab in a research note on Monday, April 1st. JPMorgan Chase & Co. reduced their price objective on shares of GitLab from $55.00 to $50.00 and set a “neutral” rating for the company in a research note on Tuesday, June 4th. Finally, Raymond James upgraded GitLab from a “market perform” rating to an “outperform” rating and set a $70.00 target price on the stock in a research report on Friday, April 12th. Four equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $67.30.

Insider Activity

In related news, Director Merline Saintil sold 1,329 shares of GitLab stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $44.28, for a total value of $58,848.12. Following the transaction, the director now owns 7,040 shares in the company, valued at approximately $311,731.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other GitLab news, Director Merline Saintil sold 1,329 shares of GitLab stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $44.28, for a total value of $58,848.12. Following the transaction, the director now directly owns 7,040 shares of the company’s stock, valued at approximately $311,731.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sytse Sijbrandij sold 56,000 shares of the stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $54.92, for a total value of $3,075,520.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 105,429 shares of company stock valued at $5,412,750. Corporate insiders own 21.36% of the company’s stock.

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.