GSA Capital Partners LLP Invests $1.06 Million in GitLab Inc. (NASDAQ:GTLB)

GSA Capital Partners LLP bought a new position in GitLab Inc. (NASDAQ:GTLB) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 20,465 shares of the company’s stock, valued at approximately $1,055,000.

Other institutional investors have also recently made changes to their positions in the company. Capital Research Global Investors increased its position in GitLab by 78.5% during the 1st quarter. Capital Research Global Investors now owns 7,040,410 shares of the company’s stock valued at $410,597,000 after buying an additional 3,096,437 shares in the last quarter. Westfield Capital Management Co. LP bought a new position in GitLab during the 1st quarter valued at approximately $49,196,000. DNB Asset Management AS bought a new position in GitLab during the 2nd quarter valued at approximately $37,851,000. Renaissance Technologies LLC increased its position in GitLab by 168.8% during the 2nd quarter. Renaissance Technologies LLC now owns 1,190,582 shares of the company’s stock valued at $59,196,000 after buying an additional 747,712 shares in the last quarter. Finally, Primecap Management Co. CA increased its position in GitLab by 269.5% during the 2nd quarter. Primecap Management Co. CA now owns 827,040 shares of the company’s stock valued at $41,120,000 after buying an additional 603,200 shares in the last quarter. Institutional investors own 91.72% of the company’s stock.

Insider Buying and Selling at GitLab

In other news, CFO Brian G. Robins sold 16,666 shares of GitLab stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $56.74, for a total value of $945,628.84. Following the sale, the chief financial officer now directly owns 242,803 shares of the company’s stock, valued at approximately $13,776,642.22. The trade was a 6.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Sytse Sijbrandij sold 56,000 shares of GitLab stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $54.68, for a total value of $3,062,080.00. The disclosure for this sale can be found here. Insiders have sold a total of 97,007 shares of company stock valued at $5,320,233 over the last ninety days. 21.36% of the stock is currently owned by company insiders.

GitLab Stock Down 2.1 %

NASDAQ:GTLB opened at $59.87 on Friday. The business’s 50-day simple moving average is $54.37 and its two-hundred day simple moving average is $51.23. The stock has a market cap of $9.61 billion, a PE ratio of -25.59 and a beta of 0.45. GitLab Inc. has a 52 week low of $40.72 and a 52 week high of $78.53.

GitLab (NASDAQ:GTLB) last posted its quarterly earnings results on Tuesday, September 3rd. The company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.05. The business had revenue of $182.58 million for the quarter, compared to analysts’ expectations of $176.86 million. GitLab had a negative return on equity of 15.40% and a negative net margin of 54.62%. The business’s quarterly revenue was up 30.8% on a year-over-year basis. During the same period last year, the firm earned ($0.29) earnings per share. Sell-side analysts anticipate that GitLab Inc. will post -0.41 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Baird R W raised GitLab to a “strong-buy” rating in a research report on Tuesday, August 27th. BTIG Research lifted their target price on GitLab from $58.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. TD Cowen lifted their target price on GitLab from $58.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Cantor Fitzgerald raised GitLab to a “strong-buy” rating in a report on Tuesday. Finally, Bank of America lifted their target price on GitLab from $66.00 to $68.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Three analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $66.38.

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.