GitLab Inc. (NASDAQ:GTLB) Shares Acquired by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank grew its stake in GitLab Inc. (NASDAQ:GTLB) by 13.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 16,537 shares of the company’s stock after purchasing an additional 1,986 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in GitLab were worth $1,041,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Invesco Ltd. raised its stake in shares of GitLab by 71.3% in the 3rd quarter. Invesco Ltd. now owns 4,236,833 shares of the company’s stock valued at $191,590,000 after purchasing an additional 1,762,944 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of GitLab by 280.3% in the 3rd quarter. Wellington Management Group LLP now owns 628,987 shares of the company’s stock valued at $28,443,000 after purchasing an additional 463,584 shares in the last quarter. Black Swift Group LLC acquired a new stake in shares of GitLab in the 4th quarter valued at about $1,574,000. Polar Capital Holdings Plc bought a new stake in shares of GitLab during the 3rd quarter valued at about $7,558,000. Finally, Vanguard Group Inc. grew its position in shares of GitLab by 6.8% during the 3rd 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. Institutional investors and hedge funds own 91.72% of the company’s stock.

GitLab Trading Down 1.0 %

Shares of NASDAQ:GTLB opened at $55.46 on Friday. The company has a 50 day moving average of $59.87 and a 200-day moving average of $58.33. The firm has a market cap of $8.80 billion, a P/E 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) last issued its quarterly earnings results on Monday, March 4th. The company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.07. The company had revenue of $163.80 million during the quarter, compared to analyst estimates of $157.89 million. GitLab had a negative net margin of 73.14% and a negative return on equity of 18.26%. The business’s revenue for the quarter was up 33.3% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.26) EPS. Equities research analysts forecast that GitLab Inc. will post -0.96 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on GTLB. Truist Financial reaffirmed a “buy” rating and set a $80.00 price objective on shares of GitLab in a research report on Monday, April 1st. KeyCorp began coverage on shares of GitLab in a research report on Tuesday, March 19th. They set an “overweight” rating and a $70.00 price objective for the company. Raymond James raised shares of GitLab from a “market perform” rating to an “outperform” rating and set a $70.00 price objective for the company in a research report on Friday, April 12th. DA Davidson lowered their price objective on shares of GitLab from $75.00 to $65.00 and set a “neutral” rating for the company in a research report on Tuesday, March 5th. Finally, TD Cowen lowered their price objective on shares of GitLab from $80.00 to $76.00 and set an “outperform” rating for the company in a research report on Tuesday, March 5th. Three investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, GitLab has an average rating of “Moderate Buy” and a consensus target price of $70.73.

Insider Activity at GitLab

In related news, 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 transaction of $3,075,520.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Brian G. Robins sold 60,000 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $56.08, for a total transaction of $3,364,800.00. Following the completion of the sale, the chief financial officer now directly owns 346,146 shares of the company’s stock, valued at $19,411,867.68. The transaction was disclosed in a document filed with the SEC, which can be accessed 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 transaction of $3,075,520.00. The disclosure for this sale can be found here. Insiders sold a total of 492,638 shares of company stock valued at $28,048,607 over the last ninety days. 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.