3,881 Shares in GitLab Inc. (NASDAQ:GTLB) Acquired by OneDigital Investment Advisors LLC

OneDigital Investment Advisors LLC purchased a new stake in GitLab Inc. (NASDAQ:GTLB) in the 3rd quarter, Holdings Channel.com reports. The fund purchased 3,881 shares of the company’s stock, valued at approximately $200,000.

A number of other large investors also recently made changes to their positions in GTLB. Future Financial Wealth Managment LLC purchased a new position in shares of GitLab during the 3rd quarter worth about $52,000. Rakuten Securities Inc. grew its holdings in GitLab by 268.1% in the third quarter. Rakuten Securities Inc. now owns 1,417 shares of the company’s stock valued at $73,000 after purchasing an additional 1,032 shares during the period. Quarry LP increased its position in GitLab by 527.0% during the second quarter. Quarry LP now owns 1,787 shares of the company’s stock worth $89,000 after purchasing an additional 1,502 shares during the last quarter. Capital Performance Advisors LLP purchased a new position in GitLab during the third quarter worth approximately $96,000. Finally, Canton Hathaway LLC boosted its holdings in shares of GitLab by 26.3% in the 2nd quarter. Canton Hathaway LLC now owns 2,086 shares of the company’s stock valued at $104,000 after purchasing an additional 435 shares during the last quarter. Hedge funds and other institutional investors own 91.72% of the company’s stock.

Wall Street Analyst Weigh In

GTLB has been the subject of a number of research reports. TD Cowen boosted their price target on GitLab from $63.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday. DA Davidson reaffirmed a “neutral” rating and issued a $50.00 price objective on shares of GitLab in a research report on Monday, October 14th. Baird R W raised shares of GitLab to a “strong-buy” rating in a research report on Tuesday, August 27th. Robert W. Baird lifted their target price on GitLab from $59.00 to $62.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 4th. Finally, Morgan Stanley started coverage on GitLab in a report on Wednesday, October 9th. They issued an “overweight” rating and a $70.00 price target for the company. Three investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $66.67.

GitLab Stock Up 2.8 %

Shares of NASDAQ GTLB opened at $66.62 on Friday. The firm’s 50-day moving average price is $55.32 and its two-hundred day moving average price is $51.57. GitLab Inc. has a 52-week low of $40.72 and a 52-week high of $78.53. The stock has a market capitalization of $10.69 billion, a P/E ratio of -28.47 and a beta of 0.45.

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

Insider Buying and Selling at GitLab

In other GitLab news, CEO Sytse Sijbrandij sold 84,776 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $59.64, for a total value of $5,056,040.64. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Karen Blasing sold 3,250 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $59.41, for a total value of $193,082.50. Following the transaction, the director now owns 137,983 shares of the company’s stock, valued at approximately $8,197,570.03. This represents a 2.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 185,033 shares of company stock worth $10,569,356. 21.36% of the stock is owned by insiders.

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.