4,136 Shares in GitLab Inc. (NASDAQ:GTLB) Acquired by Mercer Global Advisors Inc. ADV

Mercer Global Advisors Inc. ADV acquired a new stake in GitLab Inc. (NASDAQ:GTLB) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 4,136 shares of the company’s stock, valued at approximately $206,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GTLB. Allspring Global Investments Holdings LLC lifted its stake in shares of GitLab by 2,107.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 574 shares of the company’s stock worth $33,000 after buying an additional 548 shares in the last quarter. Banque Cantonale Vaudoise acquired a new position in shares of GitLab during the 1st quarter worth approximately $58,000. Future Financial Wealth Managment LLC purchased 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 fourth quarter. Quarry LP now owns 1,166 shares of the company’s stock valued at $73,000 after purchasing an additional 500 shares during the last quarter. Finally, Tucker Asset Management LLC purchased a new position in GitLab during the fourth quarter worth approximately $83,000. Institutional investors and hedge funds own 91.72% of the company’s stock.

Insider Activity

In related news, insider Robin Schulman sold 2,402 shares of the business’s 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 sale, the insider now owns 142,933 shares in the company, valued at $8,039,981.25. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CAO Erin Mannix sold 1,433 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $52.80, for a total transaction of $75,662.40. Following the sale, the chief accounting officer now owns 72,448 shares of the company’s stock, valued at approximately $3,825,254.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Robin Schulman sold 2,402 shares of GitLab stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $56.25, for a total value of $135,112.50. Following the transaction, the insider now directly owns 142,933 shares of the company’s stock, valued at approximately $8,039,981.25. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 107,765 shares of company stock worth $5,420,967. 21.36% of the stock is currently owned by insiders.

GitLab Stock Down 3.6 %

Shares of NASDAQ:GTLB opened at $49.68 on Wednesday. GitLab Inc. has a fifty-two week low of $40.19 and a fifty-two week high of $78.53. The firm’s 50 day moving average price is $49.31 and its 200 day moving average price is $51.44. The stock has a market cap of $7.89 billion, a price-to-earnings ratio of -18.74 and a beta of 0.44.

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

Analyst Ratings Changes

Several analysts have issued reports on GTLB shares. Mizuho dropped their target price on GitLab from $70.00 to $62.00 and set a “buy” rating for the company in a report on Tuesday, June 4th. DA Davidson restated a “neutral” rating and set a $50.00 price objective on shares of GitLab in a research report on Thursday, August 29th. Canaccord Genuity Group decreased their target price on shares of GitLab from $74.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday, June 5th. Needham & Company LLC restated a “hold” rating on shares of GitLab in a report on Wednesday, September 4th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $55.00 price objective on shares of GitLab in a research report on Monday, August 19th. Four equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $66.05.

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.