River Global Investors LLP Has $1.23 Million Stock Holdings in GitLab Inc. (NASDAQ:GTLB)

River Global Investors LLP increased its position in GitLab Inc. (NASDAQ:GTLB) by 24.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,582 shares of the company’s stock after buying an additional 3,860 shares during the quarter. River Global Investors LLP’s holdings in GitLab were worth $1,233,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Xponance Inc. increased its position in GitLab by 84.4% in the 3rd quarter. Xponance Inc. now owns 12,248 shares of the company’s stock valued at $554,000 after acquiring an additional 5,605 shares during the period. Maryland State Retirement & Pension System bought a new position in GitLab during the 3rd quarter worth $305,000. Bank of New York Mellon Corp raised its position in GitLab by 23.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 500,196 shares of the company’s stock worth $22,619,000 after purchasing an additional 96,322 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in GitLab by 32.4% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,551 shares of the company’s stock worth $658,000 after buying an additional 3,558 shares during the period. Finally, EDBI Pte Ltd grew its position in shares of GitLab by 100.0% in the 3rd quarter. EDBI Pte Ltd now owns 15,835 shares of the company’s stock valued at $716,000 after buying an additional 7,917 shares during the last quarter. Institutional investors own 91.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on GTLB shares. Capital One Financial started coverage on GitLab in a research report on Friday, March 22nd. They set an “overweight” rating and a $72.00 price objective for the company. Cantor Fitzgerald reduced 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. Canaccord Genuity Group reiterated a “buy” rating and set a $74.00 price objective on shares of GitLab in a research report on Tuesday, March 5th. Wolfe Research upgraded shares of GitLab from a “peer perform” rating to an “outperform” rating and set a $75.00 target price on the stock in a report on Wednesday, March 6th. Finally, Sanford C. Bernstein increased their price target on GitLab from $71.00 to $76.00 and gave the stock an “outperform” rating in a report on Tuesday, March 5th. Three investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat.com, GitLab currently has a consensus rating of “Moderate Buy” and a consensus price target of $70.73.

Insiders Place Their Bets

In other news, insider Robin Schulman sold 30,543 shares of the stock in a transaction dated 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 completion of the sale, the insider now owns 60,132 shares in the company, valued at $4,516,514.52. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, insider Robin Schulman sold 30,543 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $75.11, for a total value of $2,294,084.73. Following the transaction, the insider now owns 60,132 shares in the company, valued at approximately $4,516,514.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Sytse Sijbrandij sold 56,000 shares of the stock in a transaction that occurred on Monday, April 15th. The shares were 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. Insiders have sold 476,926 shares of company stock valued at $26,869,893 in the last three months. 28.04% of the stock is currently owned by insiders.

GitLab Price Performance

Shares of NASDAQ:GTLB traded up $0.12 during midday trading on Friday, hitting $54.54. 1,345,857 shares of the company’s stock were exchanged, compared to its average volume of 1,584,828. GitLab Inc. has a 12 month low of $26.24 and a 12 month high of $78.53. The company has a market cap of $8.65 billion, a PE ratio of -19.83 and a beta of 0.49. The stock has a 50 day moving average price of $58.26 and a 200-day moving average price of $58.65.

GitLab (NASDAQ:GTLB) last issued its quarterly earnings data on Monday, March 4th. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $163.80 million during the quarter, compared to analyst estimates of $157.89 million. During the same period in the previous year, the company posted ($0.26) EPS. The company’s revenue for the quarter was up 33.3% on a year-over-year basis. On average, analysts anticipate that GitLab Inc. will post -0.96 EPS for the current fiscal year.

GitLab 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.