Fiera Capital Corp Has $64.91 Million Position in GitLab Inc. (NASDAQ:GTLB)

Fiera Capital Corp boosted its position in shares of GitLab Inc. (NASDAQ:GTLB) by 1.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,259,429 shares of the company’s stock after buying an additional 16,961 shares during the quarter. Fiera Capital Corp owned approximately 0.78% of GitLab worth $64,911,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Capital Performance Advisors LLP bought a new stake in shares of GitLab during the third quarter worth $96,000. ARK Investment Management LLC acquired a new stake in GitLab in the third quarter worth about $13,435,000. Malaga Cove Capital LLC raised its holdings in GitLab by 45.7% during the 3rd quarter. Malaga Cove Capital LLC now owns 9,631 shares of the company’s stock worth $496,000 after purchasing an additional 3,020 shares during the last quarter. Wealth Architects LLC lifted its position in GitLab by 39.1% during the 3rd quarter. Wealth Architects LLC now owns 7,853 shares of the company’s stock valued at $405,000 after purchasing an additional 2,209 shares during the period. Finally, M&G PLC boosted its stake in shares of GitLab by 2.9% in the 3rd quarter. M&G PLC now owns 211,361 shares of the company’s stock valued at $10,991,000 after purchasing an additional 6,039 shares during the last quarter. 91.72% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CFO Brian G. Robins sold 16,666 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $56.74, for a total value of $945,628.84. Following the completion of the sale, the chief financial officer now owns 242,803 shares of the company’s stock, valued at approximately $13,776,642.22. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CFO Brian G. Robins sold 16,668 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $53.67, for a total value of $894,571.56. Following the completion of the sale, the chief financial officer now directly owns 250,109 shares of the company’s stock, valued at $13,423,350.03. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Brian G. Robins sold 16,666 shares of GitLab stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $56.74, for a total value of $945,628.84. Following the transaction, the chief financial officer now owns 242,803 shares of the company’s stock, valued at $13,776,642.22. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 97,007 shares of company stock worth $5,320,233. Corporate insiders own 21.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on GTLB shares. Morgan Stanley started coverage on shares of GitLab in a research note on Wednesday, October 9th. They set an “overweight” rating and a $70.00 price target for the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $55.00 target price on shares of GitLab in a research report on Monday, August 19th. Baird R W upgraded GitLab to a “strong-buy” rating in a research report on Tuesday, August 27th. UBS Group lifted their price objective on GitLab from $62.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Finally, Wells Fargo & Company increased their target price on GitLab from $70.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday, September 4th. Three equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $66.38.

GitLab Price Performance

Shares of GTLB traded down $2.27 during mid-day trading on Friday, hitting $58.92. 311,719 shares of the company’s stock were exchanged, compared to its average volume of 2,345,304. GitLab Inc. has a 52 week low of $40.72 and a 52 week high of $78.53. The company has a market cap of $9.46 billion, a PE ratio of -26.15 and a beta of 0.45. The company has a 50-day simple moving average of $53.31 and a 200 day simple moving average of $51.05.

GitLab (NASDAQ:GTLB) last issued its quarterly earnings results on Tuesday, September 3rd. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.05. GitLab had a negative net margin of 54.62% and a negative return on equity of 15.40%. The firm had revenue of $182.58 million for the quarter, compared to analyst estimates of $176.86 million. During the same period in the previous year, the business earned ($0.29) EPS. The company’s revenue was up 30.8% compared to the same quarter last year. On average, analysts anticipate that GitLab Inc. will post -0.41 earnings per share for the current 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.