GitLab Inc. (NASDAQ:GTLB) Shares Acquired by Cwm LLC

Cwm LLC increased its stake in shares of GitLab Inc. (NASDAQ:GTLB) by 40.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,523 shares of the company’s stock after acquiring an additional 19,022 shares during the quarter. Cwm LLC’s holdings in GitLab were worth $3,377,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC boosted its position in shares of GitLab by 2,107.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 574 shares of the company’s stock valued at $33,000 after purchasing an additional 548 shares during the period. Future Financial Wealth Managment LLC purchased a new stake in GitLab in the third quarter valued at approximately $52,000. Banque Cantonale Vaudoise acquired a new stake in shares of GitLab in the first quarter valued at approximately $58,000. Quarry LP increased its holdings in shares of GitLab by 75.1% in the 4th quarter. Quarry LP now owns 1,166 shares of the company’s stock valued at $73,000 after acquiring an additional 500 shares during the period. Finally, Tucker Asset Management LLC acquired a new position in shares of GitLab in the 4th quarter valued at $83,000. 91.72% of the stock is owned by hedge funds and other institutional investors.

GitLab Stock Performance

GTLB opened at $54.73 on Monday. The company has a market cap of $8.70 billion, a price-to-earnings ratio of -19.90 and a beta of 0.46. GitLab Inc. has a one year low of $40.19 and a one year high of $78.53. The business’s fifty day moving average is $49.25 and its two-hundred day moving average is $51.05.

GitLab (NASDAQ:GTLB) last released its quarterly earnings data on Tuesday, September 3rd. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.10 by $0.05. GitLab had a negative net margin of 54.62% and a negative return on equity of 15.40%. The business had revenue of $182.58 million for the quarter, compared to analyst estimates of $176.86 million. During the same period in the previous year, the firm earned ($0.29) EPS. The business’s revenue for the quarter was up 30.8% compared to the same quarter last year. On average, analysts predict that GitLab Inc. will post -0.41 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have commented on GTLB. Robert W. Baird lifted their price objective on shares of GitLab from $59.00 to $62.00 and gave the company an “outperform” rating in a research note on Wednesday, September 4th. Cantor Fitzgerald restated an “overweight” rating and issued a $55.00 price target on shares of GitLab in a research report on Monday, August 19th. BTIG Research increased their price objective on GitLab from $58.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. UBS Group boosted their target price on GitLab from $62.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Finally, Barclays increased their price target on GitLab from $50.00 to $55.00 and gave the stock an “equal weight” rating in a report on Thursday, September 5th. Four research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $66.22.

Insider Activity

In related news, insider Robin Schulman sold 2,402 shares of GitLab stock in a transaction that occurred on Wednesday, July 17th. The stock was sold at an average price of $56.25, for a total transaction of $135,112.50. Following the completion of the transaction, the insider now directly owns 142,933 shares in the company, valued at $8,039,981.25. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Karen Blasing sold 4,430 shares of the stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $56.25, for a total transaction of $249,187.50. Following the sale, the director now owns 150,983 shares of the company’s stock, valued at $8,492,793.75. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Robin Schulman sold 2,402 shares of GitLab stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $56.25, for a total value of $135,112.50. Following the sale, the insider now owns 142,933 shares of the company’s stock, valued at approximately $8,039,981.25. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 51,255 shares of company stock worth $2,667,852 over the last ninety days. 21.36% of the stock is currently owned by insiders.

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.