Cwm LLC Buys 654 Shares of GitLab Inc. (NASDAQ:GTLB)

Cwm LLC increased its stake in shares of GitLab Inc. (NASDAQ:GTLB) by 23.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,388 shares of the company’s stock after acquiring an additional 654 shares during the quarter. Cwm LLC’s holdings in GitLab were worth $213,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Invesco Ltd. raised its holdings in shares of GitLab by 71.3% during the third 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 during the period. Vanguard Group Inc. boosted its holdings in GitLab by 6.8% in the third quarter. Vanguard Group Inc. now owns 8,317,446 shares of the company’s stock worth $376,115,000 after acquiring an additional 530,702 shares in the last quarter. Lord Abbett & CO. LLC acquired a new stake in GitLab in the third quarter valued at approximately $21,385,000. Wellington Management Group LLP increased its holdings in shares of GitLab by 280.3% during the third quarter. Wellington Management Group LLP now owns 628,987 shares of the company’s stock valued at $28,443,000 after acquiring an additional 463,584 shares in the last quarter. Finally, CloudAlpha Capital Management Limited Hong Kong raised its position in shares of GitLab by 108.4% during the fourth quarter. CloudAlpha Capital Management Limited Hong Kong now owns 388,700 shares of the company’s stock worth $24,473,000 after purchasing an additional 202,200 shares during the period. 91.72% of the stock is currently owned by institutional investors and hedge funds.

GitLab Trading Up 0.2 %

GitLab stock opened at $54.54 on Friday. The business’s 50 day simple moving average is $58.26 and its 200 day simple moving average is $58.56. GitLab Inc. has a 12 month low of $26.24 and a 12 month high of $78.53. The company has a market cap of $8.65 billion, a price-to-earnings ratio of -19.83 and a beta of 0.49.

GitLab (NASDAQ:GTLB) last issued its earnings results on Monday, March 4th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.07. The firm had revenue of $163.80 million for the quarter, compared to analyst estimates of $157.89 million. GitLab had a negative return on equity of 18.26% and a negative net margin of 73.14%. The business’s revenue was up 33.3% on a year-over-year basis. During the same period in the previous year, the company posted ($0.26) earnings per share. As a group, equities research analysts forecast that GitLab Inc. will post -0.96 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

GTLB has been the subject of several research reports. Raymond James raised shares of GitLab from a “market perform” rating to an “outperform” rating and set a $70.00 price target for the company in a research report on Friday, April 12th. Truist Financial reissued a “buy” rating and set a $80.00 target price on shares of GitLab in a research report on Monday, April 1st. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $74.00 price target on shares of GitLab in a research report on Tuesday, March 5th. Wolfe Research raised GitLab from a “peer perform” rating to an “outperform” rating and set a $75.00 price objective for the company in a report on Wednesday, March 6th. Finally, Bank of America dropped their target price on GitLab from $88.00 to $85.00 and set a “buy” rating on the stock in a report on Tuesday, March 5th. Three analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $70.73.

Insiders Place Their Bets

In other news, CEO Sytse Sijbrandij sold 230,000 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $53.59, for a total value of $12,325,700.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO Sytse Sijbrandij sold 230,000 shares of GitLab stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $53.59, for a total value of $12,325,700.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Robin Schulman sold 30,543 shares of the business’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $75.11, for a total transaction of $2,294,084.73. Following the sale, the insider now directly owns 60,132 shares in the company, valued at approximately $4,516,514.52. The disclosure for this sale can be found here. Insiders sold 476,926 shares of company stock worth $26,869,893 over the last quarter. 28.04% of the stock is currently owned by company 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.