Assetmark Inc. Purchases 5,890 Shares of GitLab Inc. (NASDAQ:GTLB)

Assetmark Inc. boosted its holdings in shares of GitLab Inc. (NASDAQ:GTLBFree Report) by 35.3% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 22,582 shares of the company’s stock after buying an additional 5,890 shares during the period. Assetmark Inc.’s holdings in GitLab were worth $1,422,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Personalized Indexing Management LLC boosted its position in shares of GitLab by 5.3% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 5,499 shares of the company’s stock valued at $346,000 after acquiring an additional 276 shares during the last quarter. Atria Wealth Solutions Inc. lifted its position in GitLab by 2.0% during the fourth quarter. Atria Wealth Solutions Inc. now owns 14,582 shares of the company’s stock valued at $918,000 after purchasing an additional 290 shares during the last quarter. Asset Management One Co. Ltd. grew its stake in GitLab by 2.6% in the 4th quarter. Asset Management One Co. Ltd. now owns 11,900 shares of the company’s stock worth $769,000 after buying an additional 300 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of GitLab by 1.6% in the 3rd quarter. Victory Capital Management Inc. now owns 29,354 shares of the company’s stock worth $1,327,000 after buying an additional 475 shares during the last quarter. Finally, Amalgamated Bank raised its position in shares of GitLab by 2.6% during the 4th quarter. Amalgamated Bank now owns 19,236 shares of the company’s stock valued at $1,211,000 after buying an additional 488 shares in the last quarter. Institutional investors own 91.72% of the company’s stock.

Insider Buying and Selling at GitLab

In other news, CAO Erin Mannix sold 958 shares of the firm’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $59.53, for a total value of $57,029.74. Following the completion of the sale, the chief accounting officer now directly owns 74,908 shares of the company’s stock, valued at approximately $4,459,273.24. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other GitLab news, CAO Erin Mannix sold 958 shares of the company’s 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 transaction, the chief accounting officer now owns 74,908 shares in the company, valued at approximately $4,459,273.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sytse Sijbrandij sold 56,000 shares of the stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $54.92, for a total value of $3,075,520.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 433,383 shares of company stock valued at $23,632,528. 21.36% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

GTLB has been the subject of several research reports. 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 research report on Friday, April 12th. Canaccord Genuity Group reiterated a “buy” rating and issued a $74.00 price objective on shares of GitLab in a report on Tuesday, March 5th. DA Davidson decreased their price objective on GitLab from $75.00 to $65.00 and set a “neutral” rating on the stock in a report on Tuesday, March 5th. UBS Group dropped their target price on GitLab from $81.00 to $75.00 and set a “buy” rating for the company in a research report on Tuesday, March 5th. Finally, Sanford C. Bernstein increased their price target on shares of GitLab from $71.00 to $76.00 and gave the company an “outperform” rating in a research report on Tuesday, March 5th. Three analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat.com, GitLab currently has a consensus rating of “Moderate Buy” and an average price target of $70.50.

Get Our Latest Stock Analysis on GitLab

GitLab Stock Performance

Shares of NASDAQ:GTLB opened at $55.17 on Monday. The stock’s 50-day moving average is $55.89 and its 200 day moving average is $59.93. GitLab Inc. has a 1 year low of $32.65 and a 1 year high of $78.53.

GitLab (NASDAQ:GTLBGet Free Report) last issued its quarterly earnings data on Monday, March 4th. The company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.07. The firm had revenue of $163.80 million for the quarter, compared to analyst estimates of $157.89 million. GitLab had a negative return on equity of 18.26% and a negative net margin of 73.14%. The business’s quarterly revenue was up 33.3% compared to the same quarter last year. During the same period last year, the company earned ($0.26) EPS. As a group, analysts forecast that GitLab Inc. will post -0.96 EPS for the current fiscal year.

GitLab Profile

(Free Report)

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.

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Institutional Ownership by Quarter for GitLab (NASDAQ:GTLB)

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