GitLab Inc. $GTLB Shares Purchased by Deutsche Bank AG

Deutsche Bank AG raised its stake in shares of GitLab Inc. (NASDAQ:GTLB) by 12.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 70,571 shares of the company’s stock after acquiring an additional 7,542 shares during the quarter. Deutsche Bank AG’s holdings in GitLab were worth $3,317,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. OneDigital Investment Advisors LLC lifted its position in shares of GitLab by 4.3% during the fourth quarter. OneDigital Investment Advisors LLC now owns 4,047 shares of the company’s stock worth $228,000 after purchasing an additional 166 shares during the last quarter. Utah Retirement Systems raised its stake in GitLab by 3.1% during the fourth quarter. Utah Retirement Systems now owns 6,600 shares of the company’s stock valued at $372,000 after buying an additional 200 shares in the last quarter. Mariner LLC raised its stake in GitLab by 1.7% during the fourth quarter. Mariner LLC now owns 12,583 shares of the company’s stock valued at $709,000 after buying an additional 214 shares in the last quarter. True Wealth Design LLC raised its stake in GitLab by 20.0% during the fourth quarter. True Wealth Design LLC now owns 1,297 shares of the company’s stock valued at $73,000 after buying an additional 216 shares in the last quarter. Finally, Graham Capital Management L.P. raised its stake in GitLab by 0.8% during the fourth quarter. Graham Capital Management L.P. now owns 30,806 shares of the company’s stock valued at $1,736,000 after buying an additional 242 shares in the last quarter. 95.04% of the stock is owned by institutional investors and hedge funds.

GitLab Stock Performance

Shares of GTLB opened at $45.35 on Tuesday. The company has a market cap of $7.49 billion, a price-to-earnings ratio of 453.50 and a beta of 0.73. The firm has a fifty day moving average of $43.96 and a 200-day moving average of $49.43. GitLab Inc. has a 1 year low of $37.90 and a 1 year high of $74.18.

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

Insider Buying and Selling

In related news, Director Matthew Jacobson sold 129,400 shares of the company’s stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $42.32, for a total value of $5,476,208.00. Following the completion of the sale, the director owned 551,997 shares of the company’s stock, valued at $23,360,513.04. This represents a 18.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Karen Blasing sold 3,250 shares of the company’s stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $45.00, for a total transaction of $146,250.00. Following the completion of the sale, the director directly owned 107,139 shares of the company’s stock, valued at $4,821,255. The trade was a 2.94% decrease in their position. The disclosure for this sale can be found here. Insiders sold 353,100 shares of company stock valued at $14,974,730 over the last 90 days. 21.36% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on GTLB shares. JPMorgan Chase & Co. cut their price objective on GitLab from $58.00 to $52.00 and set a “neutral” rating on the stock in a research note on Wednesday, June 11th. Capital One Financial downgraded shares of GitLab from an “overweight” rating to an “equal weight” rating and set a $46.00 price objective for the company. in a report on Wednesday, July 16th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $62.00 price objective on shares of GitLab in a report on Wednesday, June 25th. Morgan Stanley lifted their price objective on shares of GitLab from $53.00 to $56.00 and gave the stock an “overweight” rating in a report on Wednesday, June 11th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $85.00 price objective on shares of GitLab in a report on Wednesday, June 11th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, GitLab currently has an average rating of “Moderate Buy” and an average target price of $62.63.

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.