Xponance Inc. Sells 802 Shares of GitLab Inc. (NASDAQ:GTLB)

Xponance Inc. decreased its holdings in shares of GitLab Inc. (NASDAQ:GTLB) by 6.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 11,446 shares of the company’s stock after selling 802 shares during the period. Xponance Inc.’s holdings in GitLab were worth $721,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Pursue Wealth Partners LLC boosted its stake in GitLab by 1.2% during the third quarter. Pursue Wealth Partners LLC now owns 23,911 shares of the company’s stock valued at $1,081,000 after buying an additional 273 shares during the period. Asset Management One Co. Ltd. boosted its stake in GitLab by 2.6% during the fourth quarter. Asset Management One Co. Ltd. now owns 11,900 shares of the company’s stock valued at $769,000 after buying an additional 300 shares during the period. Vanguard Personalized Indexing Management LLC boosted its stake in GitLab by 9.2% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 5,223 shares of the company’s stock valued at $236,000 after buying an additional 438 shares during the period. Victory Capital Management Inc. boosted its stake in GitLab by 1.6% during the third quarter. Victory Capital Management Inc. now owns 29,354 shares of the company’s stock valued at $1,327,000 after buying an additional 475 shares during the period. Finally, Adirondack Retirement Specialists Inc. boosted its stake in GitLab by 0.9% during the third quarter. Adirondack Retirement Specialists Inc. now owns 59,949 shares of the company’s stock valued at $2,711,000 after buying an additional 508 shares during the period. Institutional investors own 91.72% of the company’s stock.

Insider Activity

In other news, insider Robin Schulman sold 15,712 shares of GitLab stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $75.02, for a total transaction of $1,178,714.24. Following the sale, the insider now owns 60,132 shares of the company’s stock, valued at approximately $4,511,102.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Sytse Sijbrandij sold 230,000 shares of GitLab stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $53.59, for a total transaction of $12,325,700.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Robin Schulman sold 15,712 shares of GitLab stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $75.02, for a total transaction of $1,178,714.24. Following the transaction, the insider now directly owns 60,132 shares of the company’s stock, valued at $4,511,102.64. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 492,638 shares of company stock valued at $28,048,607. Corporate insiders own 28.04% of the company’s stock.

Analyst Upgrades and Downgrades

GTLB has been the subject of several research analyst reports. KeyCorp began coverage on GitLab in a research note on Tuesday, March 19th. They set an “overweight” rating and a $70.00 price objective for the company. Wolfe Research upgraded GitLab from a “peer perform” rating to an “outperform” rating and set a $75.00 price target on the stock in a research report on Wednesday, March 6th. Royal Bank of Canada restated an “outperform” rating and set a $80.00 price target on shares of GitLab in a research report on Tuesday, March 5th. Bank of America lowered their price target on GitLab from $88.00 to $85.00 and set a “buy” rating on the stock in a research report on Tuesday, March 5th. Finally, Sanford C. Bernstein raised their price target on GitLab from $71.00 to $76.00 and gave the company an “outperform” rating in a research report on Tuesday, March 5th. Three equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat, GitLab currently has a consensus rating of “Moderate Buy” and an average price target of $70.73.

GitLab Trading Down 1.0 %

Shares of GitLab stock opened at $55.46 on Friday. GitLab Inc. has a 12-month low of $26.24 and a 12-month high of $78.53. The company has a market cap of $8.80 billion, a P/E ratio of -20.17 and a beta of 0.45. The company’s fifty day simple moving average is $59.87 and its two-hundred day simple moving average is $58.26.

GitLab (NASDAQ:GTLB) last announced its earnings results on Monday, March 4th. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.07. The firm had revenue of $163.80 million for the quarter, compared to analyst estimates of $157.89 million. GitLab had a negative net margin of 73.14% and a negative return on equity of 18.26%. The company’s revenue for the quarter was up 33.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.26) EPS. Analysts predict that GitLab Inc. will post -0.96 EPS for the current fiscal year.

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.