3,376 Shares in GitLab Inc. (NASDAQ:GTLB) Acquired by Bordeaux Wealth Advisors LLC

Bordeaux Wealth Advisors LLC bought a new stake in shares of GitLab Inc. (NASDAQ:GTLB) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 3,376 shares of the company’s stock, valued at approximately $213,000.

A number of other institutional investors and hedge funds have also modified their holdings of GTLB. Invesco Ltd. boosted its position in shares of GitLab by 71.3% during the third quarter. Invesco Ltd. now owns 4,236,833 shares of the company’s stock valued at $191,590,000 after buying an additional 1,762,944 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of GitLab by 280.3% in the third quarter. Wellington Management Group LLP now owns 628,987 shares of the company’s stock worth $28,443,000 after acquiring an additional 463,584 shares during the period. Black Swift Group LLC purchased a new position in shares of GitLab during the fourth quarter valued at approximately $1,574,000. Polar Capital Holdings Plc bought a new position in GitLab during the third quarter valued at approximately $7,558,000. Finally, Vanguard Group Inc. boosted its holdings in GitLab by 6.8% in the third quarter. Vanguard Group Inc. now owns 8,317,446 shares of the company’s stock worth $376,115,000 after purchasing an additional 530,702 shares during the last quarter. Institutional investors own 91.72% of the company’s stock.

Insider Activity at GitLab

In other GitLab news, insider Robin Schulman sold 30,543 shares of the business’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $75.11, for a total value of $2,294,084.73. Following the sale, the insider now owns 60,132 shares in the company, valued at approximately $4,516,514.52. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CAO Erin Mannix sold 958 shares of the stock in a transaction that occurred on Thursday, March 21st. The stock was 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 directly owns 74,908 shares in the company, valued at approximately $4,459,273.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Robin Schulman sold 30,543 shares of the firm’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $75.11, for a total transaction of $2,294,084.73. Following the completion of the transaction, the insider now directly owns 60,132 shares of the company’s stock, valued at $4,516,514.52. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 476,926 shares of company stock valued at $26,869,893. Corporate insiders own 28.04% of the company’s stock.

GitLab Stock Performance

Shares of GitLab stock traded up $0.12 during trading hours on Friday, hitting $54.54. The company’s stock had a trading volume of 1,345,757 shares, compared to its average volume of 2,520,234. GitLab Inc. has a 12-month low of $26.24 and a 12-month high of $78.53. The business has a 50 day moving average price of $58.26 and a two-hundred day moving average price of $58.49. The company has a market cap of $8.65 billion, a PE ratio of -19.83 and a beta of 0.49.

GitLab (NASDAQ:GTLB) last posted its quarterly earnings results on Monday, March 4th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.07. GitLab had a negative return on equity of 18.26% and a negative net margin of 73.14%. The business had revenue of $163.80 million during the quarter, compared to the consensus estimate of $157.89 million. During the same period in the prior year, the company posted ($0.26) EPS. The firm’s revenue for the quarter was up 33.3% compared to the same quarter last year. As a group, research analysts anticipate that GitLab Inc. will post -0.96 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Capital One Financial began coverage on shares of GitLab in a research note on Friday, March 22nd. They set an “overweight” rating and a $72.00 target price for the company. TD Cowen dropped their target price on GitLab from $80.00 to $76.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 5th. Raymond James upgraded GitLab from a “market perform” rating to an “outperform” rating and set a $70.00 price target for the company in a research note on Friday, April 12th. Cantor Fitzgerald lowered their price objective on shares of GitLab from $80.00 to $70.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 5th. Finally, Truist Financial restated a “buy” rating and set a $80.00 target price on shares of GitLab in a research report on Monday, April 1st. Three equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $70.73.

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.