Fiera Capital Corp Has $64.91 Million Stock Position in GitLab Inc. (NASDAQ:GTLB)

Fiera Capital Corp lifted its holdings in GitLab Inc. (NASDAQ:GTLB) by 1.4% during the 3rd quarter, HoldingsChannel reports. The fund owned 1,259,429 shares of the company’s stock after acquiring an additional 16,961 shares during the quarter. Fiera Capital Corp’s holdings in GitLab were worth $64,911,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its position in shares of GitLab by 2,107.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 574 shares of the company’s stock worth $33,000 after purchasing an additional 548 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in GitLab by 59.8% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 29,017 shares of the company’s stock worth $1,692,000 after buying an additional 10,857 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in GitLab by 4.5% during the 1st quarter. Janney Montgomery Scott LLC now owns 32,628 shares of the company’s stock worth $1,903,000 after acquiring an additional 1,391 shares during the period. Sciencast Management LP acquired a new position in GitLab in the 1st quarter valued at $234,000. Finally, Oppenheimer & Co. Inc. lifted its position in shares of GitLab by 104.9% during the 1st quarter. Oppenheimer & Co. Inc. now owns 7,262 shares of the company’s stock valued at $424,000 after acquiring an additional 3,718 shares during the period. 91.72% of the stock is owned by institutional investors.

GitLab Stock Performance

Shares of GTLB stock traded down $2.27 on Friday, hitting $58.92. The company had a trading volume of 311,719 shares, compared to its average volume of 2,345,304. The stock’s 50-day moving average is $53.31 and its two-hundred day moving average is $51.05. The firm has a market cap of $9.46 billion, a P/E ratio of -26.15 and a beta of 0.45. GitLab Inc. has a twelve month low of $40.72 and a twelve month high of $78.53.

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

Insider Activity

In related news, CAO Erin Mannix sold 1,433 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $52.80, for a total transaction of $75,662.40. Following the completion of the sale, the chief accounting officer now owns 72,448 shares of the company’s stock, valued at $3,825,254.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Sytse Sijbrandij sold 56,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $54.68, for a total transaction of $3,062,080.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Erin Mannix sold 1,433 shares of the stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $52.80, for a total value of $75,662.40. Following the completion of the transaction, the chief accounting officer now owns 72,448 shares in the company, valued at approximately $3,825,254.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 97,007 shares of company stock valued at $5,320,233 in the last ninety days. 21.36% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Wells Fargo & Company raised their price target on GitLab from $70.00 to $75.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 4th. Needham & Company LLC raised shares of GitLab from a “hold” rating to a “buy” rating and set a $70.00 target price on the stock in a report on Monday, October 21st. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $55.00 price target on shares of GitLab in a report on Monday, August 19th. Barclays increased their price target on shares of GitLab from $50.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 5th. Finally, Royal Bank of Canada boosted their price objective on shares of GitLab from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Wednesday, September 4th. Three analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $66.38.

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.