Capital Performance Advisors LLP Makes New Investment in GitLab Inc. (NASDAQ:GTLB)

Capital Performance Advisors LLP acquired a new stake in GitLab Inc. (NASDAQ:GTLB) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 1,857 shares of the company’s stock, valued at approximately $96,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Allspring Global Investments Holdings LLC increased 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 during the last quarter. Future Financial Wealth Managment LLC acquired a new position in GitLab during the third quarter worth $52,000. Quarry LP raised 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 acquiring an additional 1,502 shares in the last quarter. Canton Hathaway LLC lifted its stake in GitLab by 26.3% in the second quarter. Canton Hathaway LLC now owns 2,086 shares of the company’s stock valued at $104,000 after acquiring an additional 435 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of GitLab in the 3rd quarter valued at about $119,000. Institutional investors and hedge funds own 91.72% of the company’s stock.

Insider Transactions at GitLab

In related news, CFO Brian G. Robins sold 16,666 shares of GitLab stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $56.74, for a total transaction of $945,628.84. Following the sale, the chief financial officer now directly owns 242,803 shares of the company’s stock, valued at approximately $13,776,642.22. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO Sytse Sijbrandij sold 56,000 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $54.68, for a total value of $3,062,080.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Brian G. Robins sold 16,666 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $56.74, for a total value of $945,628.84. Following the sale, the chief financial officer now directly owns 242,803 shares in the company, valued at approximately $13,776,642.22. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 97,007 shares of company stock valued at $5,320,233. 21.36% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley started coverage on shares of GitLab in a report on Wednesday, October 9th. They issued an “overweight” rating and a $70.00 target price on the stock. Robert W. Baird raised their price objective on GitLab from $59.00 to $62.00 and gave the company an “outperform” rating in a research report on Wednesday, September 4th. Cantor Fitzgerald reiterated an “overweight” rating and set a $55.00 target price on shares of GitLab in a research note on Monday, August 19th. Needham & Company LLC upgraded GitLab from a “hold” rating to a “buy” rating and set a $70.00 price target on the stock in a research note on Monday, October 21st. Finally, UBS Group lifted their price objective on shares of GitLab from $62.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Three analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $66.38.

GitLab Price Performance

Shares of NASDAQ:GTLB opened at $60.50 on Friday. GitLab Inc. has a 1 year low of $40.72 and a 1 year high of $78.53. The company’s 50 day simple moving average is $53.57 and its 200 day simple moving average is $51.10.

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

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.