GitLab Inc. (NASDAQ:GTLB) Shares Sold by Aigen Investment Management LP

Aigen Investment Management LP reduced its holdings in shares of GitLab Inc. (NASDAQ:GTLBFree Report) by 87.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,051 shares of the company’s stock after selling 28,224 shares during the quarter. Aigen Investment Management LP’s holdings in GitLab were worth $255,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the business. 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 valued at $376,115,000 after purchasing an additional 530,702 shares in the last quarter. Invesco Ltd. lifted its position in shares of GitLab by 71.3% during the 3rd quarter. Invesco Ltd. now owns 4,236,833 shares of the company’s stock worth $191,590,000 after buying an additional 1,762,944 shares during the last quarter. Norges Bank acquired a new position in shares of GitLab in the 4th quarter valued at $222,591,000. Fiera Capital Corp boosted its holdings in shares of GitLab by 0.5% in the 4th quarter. Fiera Capital Corp now owns 1,199,817 shares of the company’s stock valued at $75,540,000 after buying an additional 5,446 shares in the last quarter. Finally, Wellington Management Group LLP grew its position in shares of GitLab by 280.3% in the 3rd quarter. Wellington Management Group LLP now owns 628,987 shares of the company’s stock valued at $28,443,000 after buying an additional 463,584 shares during the last quarter. Hedge funds and other institutional investors own 91.72% of the company’s stock.

GitLab Trading Down 3.2 %

GitLab stock opened at $55.17 on Monday. GitLab Inc. has a 52 week low of $32.65 and a 52 week high of $78.53. The firm’s 50-day simple moving average is $55.89 and its 200 day simple moving average is $59.93.

GitLab (NASDAQ:GTLBGet Free Report) last announced its quarterly earnings results 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. GitLab had a negative net margin of 73.14% and a negative return on equity of 18.26%. The company had revenue of $163.80 million for the quarter, compared to the consensus estimate of $157.89 million. During the same quarter in the prior year, the firm earned ($0.26) earnings per share. The company’s revenue for the quarter was up 33.3% compared to the same quarter last year. As a group, sell-side analysts predict that GitLab Inc. will post -0.96 EPS for the current fiscal year.

Insider Activity

In related news, CAO Erin Mannix sold 958 shares of the firm’s stock in a transaction that occurred 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 sale, the chief accounting officer now owns 74,908 shares in the company, valued at $4,459,273.24. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CAO Erin Mannix sold 958 shares of GitLab stock in a transaction on Thursday, March 21st. The stock was 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 $4,459,273.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Brian G. Robins sold 60,000 shares of GitLab stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $56.08, for a total value of $3,364,800.00. Following the completion of the transaction, the chief financial officer now directly owns 346,146 shares in the company, valued at $19,411,867.68. The disclosure for this sale can be found here. Insiders have sold 433,383 shares of company stock worth $23,632,528 over the last three months. 21.36% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on GTLB. Capital One Financial assumed coverage on GitLab in a research note on Friday, March 22nd. They issued an “overweight” rating and a $72.00 price objective for the company. DA Davidson decreased their price target on shares of GitLab from $75.00 to $65.00 and set a “neutral” rating for the company in a research note on Tuesday, March 5th. Canaccord Genuity Group reissued a “buy” rating and set a $74.00 price objective on shares of GitLab in a research report on Tuesday, March 5th. Raymond James raised 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. Finally, TD Cowen lowered their price target on GitLab from $80.00 to $76.00 and set an “outperform” rating on the stock in a report on Tuesday, March 5th. Three equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $70.50.

View Our Latest Report on GTLB

About GitLab

(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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