GitLab Inc. (NASDAQ:GTLB) Shares Purchased by Treasurer of the State of North Carolina

Treasurer of the State of North Carolina raised its stake in shares of GitLab Inc. (NASDAQ:GTLBFree Report) by 1.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 38,900 shares of the company’s stock after acquiring an additional 380 shares during the quarter. Treasurer of the State of North Carolina’s holdings in GitLab were worth $2,449,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in GTLB. Norges Bank acquired a new stake in shares of GitLab during the 4th quarter valued at approximately $222,591,000. Invesco Ltd. lifted its position in shares of GitLab by 71.3% in the 3rd quarter. Invesco Ltd. now owns 4,236,833 shares of the company’s stock worth $191,590,000 after buying an additional 1,762,944 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of GitLab by 6.8% in 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 period. Wellington Management Group LLP grew its position in shares of GitLab by 280.3% during the 3rd quarter. Wellington Management Group LLP now owns 628,987 shares of the company’s stock valued at $28,443,000 after buying an additional 463,584 shares during the last quarter. Finally, Victory Capital Management Inc. raised its stake in GitLab by 766.9% during the fourth quarter. Victory Capital Management Inc. now owns 254,483 shares of the company’s stock worth $16,022,000 after acquiring an additional 225,129 shares during the period. 91.72% of the stock is owned by institutional investors and hedge funds.

GitLab Price Performance

GTLB stock opened at $44.12 on Friday. The firm has a market cap of $7.00 billion, a PE ratio of -16.04 and a beta of 0.44. GitLab Inc. has a 12 month low of $40.19 and a 12 month high of $78.53. The firm has a 50 day simple moving average of $54.22 and a 200 day simple moving average of $59.88.

GitLab (NASDAQ:GTLBGet Free Report) last announced its quarterly earnings data on Monday, March 4th. The company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.07. The company had revenue of $163.80 million during the quarter, compared to the consensus estimate of $157.89 million. GitLab had a negative return on equity of 18.68% and a negative net margin of 68.52%. The company’s quarterly revenue was up 33.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.26) EPS. As a group, sell-side analysts expect that GitLab Inc. will post -0.96 earnings per share for the current year.

Insider Activity

In related news, CEO Sytse Sijbrandij sold 230,000 shares of GitLab stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $53.59, for a total value of $12,325,700.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Sytse Sijbrandij sold 230,000 shares of the company’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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robin Schulman sold 2,425 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $58.75, for a total transaction of $142,468.75. Following the completion of the transaction, the insider now directly owns 55,150 shares of the company’s stock, valued at approximately $3,240,062.50. The disclosure for this sale can be found here. Insiders sold a total of 433,383 shares of company stock valued at $23,632,528 over the last three months. Insiders own 21.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on GTLB shares. Truist Financial reaffirmed a “buy” rating and set a $80.00 target price on shares of GitLab in a report on Monday, April 1st. UBS Group cut their target price on GitLab from $81.00 to $75.00 and set a “buy” rating on the stock in a research note on Tuesday, March 5th. TD Cowen lowered their price target 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. Barclays cut their price objective on shares of GitLab from $55.00 to $50.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Finally, BTIG Research reduced their target price on shares of GitLab from $71.00 to $58.00 and set a “buy” rating for the company in a research note on Tuesday. Four equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $67.70.

Read Our Latest Report on GitLab

GitLab Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for GitLab (NASDAQ:GTLB)

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