Aigen Investment Management LP Has $966,000 Stake in GitLab Inc. (NASDAQ:GTLB)

Aigen Investment Management LP lessened its holdings in shares of GitLab Inc. (NASDAQ:GTLB) by 14.4% during the 3rd quarter, Holdings Channel.com reports. The fund owned 18,742 shares of the company’s stock after selling 3,152 shares during the period. Aigen Investment Management LP’s holdings in GitLab were worth $966,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Moloney Securities Asset Management LLC lifted its holdings in GitLab by 4.9% in the 2nd quarter. Moloney Securities Asset Management LLC now owns 6,400 shares of the company’s stock worth $318,000 after purchasing an additional 300 shares during the last quarter. Canton Hathaway LLC lifted its stake in shares of GitLab by 26.3% in the second quarter. Canton Hathaway LLC now owns 2,086 shares of the company’s stock worth $104,000 after buying an additional 435 shares during the last quarter. Blue Trust Inc. grew its stake in GitLab by 18.2% in the 3rd quarter. Blue Trust Inc. now owns 3,166 shares of the company’s stock valued at $157,000 after buying an additional 488 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in GitLab by 2,107.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 574 shares of the company’s stock worth $33,000 after acquiring an additional 548 shares during the period. Finally, Caprock Group LLC increased its holdings in shares of GitLab by 1.9% during the 2nd quarter. Caprock Group LLC now owns 31,272 shares of the company’s stock worth $1,555,000 after purchasing an additional 586 shares during the period. 91.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at GitLab

In other GitLab news, CFO Brian G. Robins sold 16,668 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $53.67, for a total value of $894,571.56. Following the completion of the transaction, the chief financial officer now directly owns 250,109 shares in the company, valued at $13,423,350.03. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other GitLab news, CAO Erin Mannix sold 1,433 shares of the business’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 transaction, the chief accounting officer now owns 72,448 shares of the company’s stock, valued at $3,825,254.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Brian G. Robins sold 16,668 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $53.67, for a total value of $894,571.56. Following the completion of the sale, the chief financial officer now directly owns 250,109 shares of the company’s stock, valued at approximately $13,423,350.03. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 97,007 shares of company stock worth $5,320,233. Insiders own 21.36% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Morgan Stanley initiated coverage on shares of GitLab in a research report on Wednesday, October 9th. They issued an “overweight” rating and a $70.00 price target for the company. Needham & Company LLC raised shares of GitLab from a “hold” rating to a “buy” rating and set a $70.00 price objective on the stock in a report on Monday, October 21st. Scotiabank upped their target price on shares of GitLab from $59.00 to $65.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, September 4th. Wells Fargo & Company upped their price objective on GitLab from $70.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday, September 4th. Finally, Royal Bank of Canada lifted their target price on GitLab from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Wednesday, September 4th. Three analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $66.38.

GitLab Trading Down 0.3 %

GTLB stock opened at $59.95 on Wednesday. The stock has a market cap of $9.62 billion, a PE ratio of -25.62 and a beta of 0.45. The stock has a 50-day moving average price of $53.82 and a two-hundred day moving average price of $51.06. GitLab Inc. has a 1 year low of $40.72 and a 1 year 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 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 firm had revenue of $182.58 million during the quarter, compared to the consensus estimate of $176.86 million. During the same quarter in the prior year, the firm posted ($0.29) EPS. The business’s revenue was up 30.8% on a year-over-year basis. On average, analysts forecast that GitLab Inc. will post -0.41 earnings per share for the current fiscal year.

About GitLab

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.