Dynamic Advisor Solutions LLC Invests $249,000 in GitLab Inc. (NASDAQ:GTLB)

Dynamic Advisor Solutions LLC bought a new position in shares of GitLab Inc. (NASDAQ:GTLB) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 5,308 shares of the company’s stock, valued at approximately $249,000.

A number of other institutional investors have also modified their holdings of GTLB. EverSource Wealth Advisors LLC increased its position in shares of GitLab by 5,700.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 522 shares of the company’s stock worth $29,000 after acquiring an additional 513 shares during the period. CoreCap Advisors LLC increased its holdings in GitLab by 327.5% during the fourth quarter. CoreCap Advisors LLC now owns 590 shares of the company’s stock valued at $33,000 after buying an additional 452 shares during the period. GAMMA Investing LLC increased its holdings in GitLab by 114.2% during the first quarter. GAMMA Investing LLC now owns 919 shares of the company’s stock valued at $43,000 after buying an additional 490 shares during the period. IMG Wealth Management Inc. purchased a new position in GitLab during the fourth quarter valued at approximately $46,000. Finally, Smartleaf Asset Management LLC increased its holdings in GitLab by 1,067.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,261 shares of the company’s stock valued at $71,000 after buying an additional 1,153 shares during the period. 95.04% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at GitLab

In related news, CFO Brian G. Robins sold 45,000 shares of the business’s stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $53.04, for a total transaction of $2,386,800.00. Following the completion of the transaction, the chief financial officer now directly owns 344,105 shares in the company, valued at $18,251,329.20. The trade was a 11.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Sytse Sijbrandij sold 108,600 shares of the business’s stock in a transaction on Monday, June 16th. The shares were sold at an average price of $41.44, for a total transaction of $4,500,384.00. The disclosure for this sale can be found here. Insiders sold 530,184 shares of company stock worth $25,617,758 over the last three months. Company insiders own 16.37% of the company’s stock.

GitLab Trading Up 0.4%

NASDAQ:GTLB opened at $42.04 on Friday. GitLab Inc. has a 12 month low of $37.90 and a 12 month high of $74.18. The firm has a fifty day simple moving average of $46.29 and a 200-day simple moving average of $54.80. The company has a market capitalization of $6.95 billion, a P/E ratio of 420.40 and a beta of 0.75.

GitLab (NASDAQ:GTLB) last posted its quarterly earnings data on Tuesday, June 10th. The company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.15 by $0.02. GitLab had a net margin of 2.17% and a negative return on equity of 4.07%. The business had revenue of $214.51 million during the quarter, compared to the consensus estimate of $213.21 million. During the same period in the previous year, the firm posted $0.03 earnings per share. The business’s revenue for the quarter was up 26.8% compared to the same quarter last year. Equities analysts forecast that GitLab Inc. will post -0.31 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Scotiabank cut their price objective on shares of GitLab from $80.00 to $67.00 and set a “sector outperform” rating on the stock in a report on Friday, June 6th. Wells Fargo & Company cut their price objective on shares of GitLab from $65.00 to $60.00 and set an “overweight” rating on the stock in a report on Wednesday, June 11th. Morgan Stanley lifted their price objective on shares of GitLab from $53.00 to $56.00 and gave the company an “overweight” rating in a report on Wednesday, June 11th. Royal Bank Of Canada cut their price objective on shares of GitLab from $68.00 to $62.00 and set an “outperform” rating on the stock in a report on Wednesday, June 11th. Finally, JPMorgan Chase & Co. cut their price objective on shares of GitLab from $58.00 to $52.00 and set a “neutral” rating on the stock in a report on Wednesday, June 11th. Four investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $63.59.

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.