VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of GitLab Inc. (NASDAQ:GTLB – Free Report) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 25,100 shares of the company’s stock, valued at approximately $1,186,000.
Several other institutional investors have also added to or reduced their stakes in GTLB. Tsfg LLC purchased a new stake in shares of GitLab in the 2nd quarter worth about $31,000. Fifth Third Bancorp boosted its stake in shares of GitLab by 220.6% during the 1st quarter. Fifth Third Bancorp now owns 1,603 shares of the company’s stock valued at $35,000 after purchasing an additional 1,103 shares in the last quarter. Versant Capital Management Inc boosted its stake in shares of GitLab by 300.6% during the 2nd quarter. Versant Capital Management Inc now owns 1,867 shares of the company’s stock valued at $57,000 after purchasing an additional 1,401 shares in the last quarter. Nisa Investment Advisors LLC increased its position in shares of GitLab by 24.8% during the third quarter. Nisa Investment Advisors LLC now owns 2,181 shares of the company’s stock valued at $103,000 after buying an additional 433 shares during the period. Finally, GAMMA Investing LLC increased its position in shares of GitLab by 60.4% during the second quarter. GAMMA Investing LLC now owns 2,769 shares of the company’s stock valued at $85,000 after buying an additional 1,043 shares during the period. 95.04% of the stock is currently owned by institutional investors.
GitLab Price Performance
Shares of GitLab stock opened at $52.43 on Thursday. The business has a fifty day simple moving average of $50.72 and a two-hundred day simple moving average of $34.42. GitLab Inc. has a 12 month low of $18.73 and a 12 month high of $58.01.
GitLab (NASDAQ:GTLB – Get Free Report) last released its earnings results on Tuesday, September 1st. The company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.06. The firm had revenue of $286.25 million for the quarter, compared to the consensus estimate of $273.13 million. GitLab had a negative net margin of 4.99% and a negative return on equity of 1.28%. The company’s revenue was up 21.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.24 EPS. GitLab has set its FY 2027 guidance at 0.850-0.870 EPS and its Q3 2027 guidance at 0.190-0.200 EPS. On average, sell-side analysts anticipate that GitLab Inc. will post -0.29 earnings per share for the current year.
Insider Activity at GitLab
In related news, Director Sytse Sijbrandij sold 980,710 shares of the business’s stock in a transaction dated Thursday, September 24th. The shares were sold at an average price of $48.63, for a total transaction of $47,691,927.30. Following the sale, the director owned 13,921,341 shares of the company’s stock, valued at $676,994,812.83. The trade was a 6.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Simon Mundy sold 8,725 shares of the company’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $38.00, for a total transaction of $331,550.00. Following the completion of the sale, the chief accounting officer owned 105,332 shares in the company, valued at approximately $4,002,616. This trade represents a 7.65% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 2,293,040 shares of company stock valued at $109,988,468 in the last three months. Company insiders own 10.64% of the company’s stock.
Analysts Set New Price Targets
A number of equities analysts recently issued reports on the stock. Piper Sandler increased their price target on shares of GitLab from $28.00 to $52.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 2nd. Barclays raised their price objective on shares of GitLab from $25.00 to $47.00 and gave the stock an “underweight” rating in a report on Wednesday, September 2nd. Rosenblatt Securities lifted their price objective on GitLab from $43.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday, September 2nd. TD Cowen upped their target price on GitLab from $29.00 to $42.00 and gave the stock a “hold” rating in a report on Thursday, August 27th. Finally, Robert W. Baird upped their target price on GitLab from $47.00 to $59.00 and gave the stock an “outperform” rating in a report on Wednesday, September 2nd. Seven research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, GitLab has a consensus rating of “Hold” and a consensus target price of $52.33.
Check Out Our Latest Report on GitLab
GitLab Profile
GitLab Inc develops an integrated DevSecOps platform that helps organizations plan, create, secure, deploy and monitor software. Its platform brings source code management, project planning, continuous integration and continuous delivery, application security, compliance, and observability capabilities into a single application.
GitLab’s products are designed to support software development teams throughout the application lifecycle. Key offerings include repositories and collaboration tools, automated testing and deployment, vulnerability management, security testing, infrastructure and portfolio management, and artificial intelligence features intended to assist developers and other technology professionals.
Founded in 2011 by Dmitriy Zaporozhets and Sid Sijbrandij, GitLab operates as an all-remote company and serves organizations globally across a range of industries and sizes.
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