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

Aigen Investment Management LP cut its holdings in GitLab Inc. (NASDAQ:GTLB) by 14.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 18,742 shares of the company’s stock after selling 3,152 shares during the quarter. Aigen Investment Management LP’s holdings in GitLab were worth $966,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in GTLB. Capital Research Global Investors lifted its holdings in shares of GitLab by 78.5% during the first quarter. Capital Research Global Investors now owns 7,040,410 shares of the company’s stock worth $410,597,000 after purchasing an additional 3,096,437 shares during the period. Fiera Capital Corp raised its holdings in GitLab by 1.4% during the third quarter. Fiera Capital Corp now owns 1,259,429 shares of the company’s stock worth $64,911,000 after purchasing an additional 16,961 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in GitLab by 168.8% in the 2nd quarter. Renaissance Technologies LLC now owns 1,190,582 shares of the company’s stock valued at $59,196,000 after purchasing an additional 747,712 shares in the last quarter. Westfield Capital Management Co. LP purchased a new position in shares of GitLab during the 1st quarter worth approximately $49,196,000. Finally, Primecap Management Co. CA raised its stake in shares of GitLab by 269.5% during the 2nd quarter. Primecap Management Co. CA now owns 827,040 shares of the company’s stock worth $41,120,000 after buying an additional 603,200 shares in the last quarter. 91.72% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Robin Schulman sold 2,990 shares of the firm’s stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $55.00, for a total transaction of $164,450.00. Following the completion of the sale, the insider now directly owns 136,076 shares in the company, valued at approximately $7,484,180. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CAO Erin Mannix sold 1,433 shares of GitLab stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $52.80, for a total value of $75,662.40. Following the transaction, the chief accounting officer now directly owns 72,448 shares of the company’s stock, valued at $3,825,254.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Robin Schulman sold 2,990 shares of the firm’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $55.00, for a total transaction of $164,450.00. Following the completion of the transaction, the insider now directly owns 136,076 shares of the company’s stock, valued at $7,484,180. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 97,007 shares of company stock worth $5,320,233. Corporate insiders own 21.36% of the company’s stock.

GitLab Stock Performance

Shares of GTLB opened at $59.95 on Wednesday. GitLab Inc. has a 1 year low of $40.72 and a 1 year high of $78.53. The firm has a fifty day moving average of $53.82 and a 200-day moving average of $51.06. The company has a market cap of $9.62 billion, a price-to-earnings ratio of -25.62 and a beta of 0.45.

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

Wall Street Analyst Weigh In

A number of research analysts have issued reports on GTLB shares. UBS Group increased their target price on shares of GitLab from $62.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Scotiabank boosted their target price on GitLab from $59.00 to $65.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, September 4th. Needham & Company LLC upgraded shares of GitLab from a “hold” rating to a “buy” rating and set a $70.00 target price for the company in a report on Monday, October 21st. TD Cowen increased their price target on shares of GitLab from $58.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. Finally, Morgan Stanley assumed coverage on GitLab in a research report on Wednesday, October 9th. They set an “overweight” rating and a $70.00 price objective for the company. Three research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $66.38.

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.