GitLab Inc. (NASDAQ:GTLB) Major Shareholder 2021 Gp L.L.C. Gv Acquires 13,528 Shares

GitLab Inc. (NASDAQ:GTLBGet Rating) major shareholder 2021 Gp L.L.C. Gv purchased 13,528 shares of the business’s stock in a transaction on Tuesday, May 24th. The stock was acquired at an average price of $33.72 per share, with a total value of $456,164.16. Following the completion of the acquisition, the insider now directly owns 593,402 shares in the company, valued at approximately $20,009,515.44. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

2021 Gp L.L.C. Gv also recently made the following trade(s):

  • On Tuesday, May 10th, 2021 Gp L.L.C. Gv acquired 255,647 shares of GitLab stock. The shares were bought at an average cost of $34.65 per share, with a total value of $8,858,168.55.

NASDAQ GTLB traded up $2.25 during trading on Wednesday, reaching $37.09. 1,306,925 shares of the stock traded hands, compared to its average volume of 1,470,906. GitLab Inc. has a fifty-two week low of $30.74 and a fifty-two week high of $137.00. The stock’s 50-day moving average price is $48.64 and its 200 day moving average price is $66.71.

GitLab (NASDAQ:GTLBGet Rating) last announced its quarterly earnings data on Monday, March 14th. The company reported ($0.25) EPS for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.07. The business had revenue of $77.80 million during the quarter, compared to the consensus estimate of $70.18 million. Analysts predict that GitLab Inc. will post -1.34 earnings per share for the current fiscal year.

A number of analysts recently weighed in on the stock. Royal Bank of Canada upped their price target on shares of GitLab from $60.00 to $64.00 and gave the stock an “outperform” rating in a research report on Monday, April 18th. The Goldman Sachs Group cut their target price on shares of GitLab from $86.00 to $69.00 and set a “neutral” rating on the stock in a research note on Thursday, April 14th. Bank of America dropped their price objective on shares of GitLab from $125.00 to $105.00 and set a “buy” rating on the stock in a research note on Wednesday, March 9th. Truist Financial dropped their price target on shares of GitLab from $105.00 to $95.00 in a research note on Tuesday, May 10th. Finally, Zacks Investment Research cut shares of GitLab from a “hold” rating to a “sell” rating in a report on Tuesday, May 17th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company. According to MarketBeat, GitLab currently has a consensus rating of “Buy” and a consensus price target of $96.44.

Several hedge funds have recently added to or reduced their stakes in the stock. ICONIQ Capital LLC grew its stake in GitLab by 252.2% during the first quarter. ICONIQ Capital LLC now owns 9,773,455 shares of the company’s stock worth $532,164,000 after buying an additional 6,998,187 shares in the last quarter. BlackRock Inc. acquired a new stake in shares of GitLab in the 4th quarter valued at approximately $217,007,000. Coatue Management LLC bought a new position in GitLab in the 4th quarter valued at approximately $169,817,000. T Ventures Management Co Ltd. bought a new position in GitLab during the 4th quarter worth approximately $132,913,000. Finally, D1 Capital Partners L.P. bought a new position in GitLab during the 4th quarter worth approximately $99,875,000. Institutional investors and hedge funds own 21.30% of the company’s stock.

GitLab Company Profile (Get Rating)

GitLab Inc, through its subsidiaries, develops software for the software development lifecycle in the United States, Europe, and the Asia Pacific. The company 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.

Further Reading

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