Sfmg LLC Takes $211,000 Position in GitLab Inc. (NASDAQ:GTLB)

Sfmg LLC purchased a new stake in shares of GitLab Inc. (NASDAQ:GTLB) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 3,352 shares of the company’s stock, valued at approximately $211,000.

Other institutional investors have also recently made changes to their positions in the company. FMR LLC raised its position in shares of GitLab by 80.0% during the 3rd quarter. FMR LLC now owns 603 shares of the company’s stock valued at $27,000 after buying an additional 268 shares during the period. Ossiam purchased a new stake in shares of GitLab during the 1st quarter valued at approximately $27,000. Quarry LP purchased a new stake in shares of GitLab during the 2nd quarter valued at approximately $30,000. Ramirez Asset Management Inc. acquired a new stake in GitLab in the 3rd quarter valued at approximately $36,000. Finally, SRS Capital Advisors Inc. acquired a new stake in GitLab in the 3rd quarter valued at approximately $40,000. Hedge funds and other institutional investors own 91.72% of the company’s stock.

GitLab Stock Performance

Shares of GTLB opened at $53.51 on Thursday. The firm’s 50-day moving average is $62.68 and its two-hundred day moving average is $57.90. GitLab Inc. has a twelve month low of $26.24 and a twelve month high of $78.53.

GitLab (NASDAQ:GTLB) last announced its quarterly earnings data on Monday, March 4th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.07. The business had revenue of $163.80 million for the quarter, compared to the consensus estimate 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 quarterly revenue was up 33.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.26) earnings per share. On average, sell-side analysts predict that GitLab Inc. will post -0.96 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Raymond James upgraded shares of GitLab from a “market perform” rating to an “outperform” rating and set a $70.00 target price for the company in a report on Friday, April 12th. Cantor Fitzgerald dropped their price target on shares of GitLab from $80.00 to $70.00 and set an “overweight” rating for the company in a research note on Tuesday, March 5th. Truist Financial restated a “buy” rating and issued a $80.00 price target on shares of GitLab in a research note on Monday, April 1st. Bank of America dropped their price target on shares of GitLab from $88.00 to $85.00 and set a “buy” rating for the company in a research note on Tuesday, March 5th. Finally, Wolfe Research raised shares of GitLab from a “peer perform” rating to an “outperform” rating and set a $75.00 price objective for the company in a research report on Wednesday, March 6th. Three equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $70.73.

Insider Activity at GitLab

In other GitLab news, CAO Erin Mannix sold 958 shares of GitLab stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $59.53, for a total value of $57,029.74. Following the transaction, the chief accounting officer now owns 74,908 shares in the company, valued at approximately $4,459,273.24. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other GitLab news, CFO Brian G. Robins sold 75,000 shares of GitLab stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $70.59, for a total value of $5,294,250.00. Following the transaction, the chief financial officer now owns 332,300 shares in the company, valued at approximately $23,457,057. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Erin Mannix sold 958 shares of GitLab stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $59.53, for a total transaction of $57,029.74. Following the completion of the transaction, the chief accounting officer now owns 74,908 shares in the company, valued at approximately $4,459,273.24. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 567,638 shares of company stock valued at $33,342,857. Company insiders own 28.04% of the company’s stock.

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.