GitLab Inc. (NASDAQ:GTLB – Get Free Report) CFO Brian G. Robins sold 16,668 shares of GitLab stock in a transaction on Monday, September 9th. The shares were sold at an average price of $53.67, for a total value of $894,571.56. Following the completion of the sale, the chief financial officer now directly owns 250,109 shares of the company’s stock, valued at approximately $13,423,350.03. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
GitLab Trading Down 2.1 %
Shares of GTLB stock opened at $54.15 on Friday. The firm has a fifty day simple moving average of $49.25 and a 200-day simple moving average of $52.59. The company has a market capitalization of $8.60 billion, a PE ratio of -19.69 and a beta of 0.44. GitLab Inc. has a twelve month low of $40.19 and a twelve month high of $78.53.
GitLab (NASDAQ:GTLB – Get Free Report) last posted its quarterly earnings data on Tuesday, September 3rd. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.05. GitLab had a negative net margin of 54.62% and a negative return on equity of 15.40%. The company had revenue of $182.58 million during the quarter, compared to analysts’ expectations of $176.86 million. During the same period in the prior year, the company posted ($0.29) EPS. The firm’s revenue for the quarter was up 30.8% on a year-over-year basis. Equities research analysts predict that GitLab Inc. will post -0.41 EPS for the current year.
Analyst Upgrades and Downgrades
Institutional Investors Weigh In On GitLab
Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in shares of GitLab by 12.9% during the 4th quarter. Vanguard Group Inc. now owns 9,388,440 shares of the company’s stock valued at $591,096,000 after buying an additional 1,070,994 shares during the last quarter. Capital Research Global Investors raised its holdings in GitLab by 78.5% in the first quarter. Capital Research Global Investors now owns 7,040,410 shares of the company’s stock valued at $410,597,000 after acquiring an additional 3,096,437 shares in the last quarter. Norges Bank bought a new position in GitLab during the 4th quarter valued at $222,591,000. Fiera Capital Corp grew its holdings in GitLab by 1.2% during the 2nd quarter. Fiera Capital Corp now owns 1,242,468 shares of the company’s stock worth $61,776,000 after acquiring an additional 14,687 shares in the last quarter. Finally, 1832 Asset Management L.P. acquired a new position in GitLab during the 4th quarter worth $76,918,000. Institutional investors and hedge funds own 91.72% of the company’s stock.
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.
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