GitLab Inc. (NASDAQ:GTLB) Position Lifted by Qsemble Capital Management LP

Qsemble Capital Management LP raised its stake in GitLab Inc. (NASDAQ:GTLB) by 41.7% in the 3rd quarter, Holdings Channel.com reports. The firm owned 23,256 shares of the company’s stock after acquiring an additional 6,846 shares during the period. Qsemble Capital Management LP’s holdings in GitLab were worth $1,199,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of GTLB. Future Financial Wealth Managment LLC acquired a new stake in GitLab in the third quarter worth $52,000. Rakuten Securities Inc. boosted its position in shares of GitLab by 268.1% during the 3rd quarter. Rakuten Securities Inc. now owns 1,417 shares of the company’s stock valued at $73,000 after purchasing an additional 1,032 shares in the last quarter. Quarry LP grew its stake in shares of GitLab by 527.0% in the 2nd quarter. Quarry LP now owns 1,787 shares of the company’s stock worth $89,000 after purchasing an additional 1,502 shares during the last quarter. Capital Performance Advisors LLP bought a new stake in shares of GitLab in the 3rd quarter worth approximately $96,000. Finally, Canton Hathaway LLC lifted its stake in GitLab by 26.3% during the second quarter. Canton Hathaway LLC now owns 2,086 shares of the company’s stock valued at $104,000 after purchasing an additional 435 shares during the last quarter. Institutional investors own 91.72% of the company’s stock.

Insider Transactions at GitLab

In other GitLab news, CEO Sytse Sijbrandij sold 84,776 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $59.64, for a total value of $5,056,040.64. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Erin Mannix sold 1,433 shares of the business’s stock in a transaction 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 completion of the sale, the chief accounting officer now directly owns 72,448 shares in the company, valued at approximately $3,825,254.40. This represents a 1.94 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 185,033 shares of company stock worth $10,569,356. 21.36% of the stock is owned by insiders.

GitLab Stock Performance

Shares of NASDAQ:GTLB opened at $66.37 on Wednesday. The stock has a market capitalization of $10.65 billion, a PE ratio of -28.36 and a beta of 0.45. 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 price of $55.89 and a 200 day moving average price of $51.73.

GitLab (NASDAQ:GTLB) last issued its quarterly earnings data on Tuesday, September 3rd. The company reported $0.15 EPS for the quarter, beating 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 for the quarter, compared to analyst estimates of $176.86 million. During the same quarter in the prior year, the firm posted ($0.29) EPS. The firm’s revenue for the quarter was up 30.8% on a year-over-year basis. On average, sell-side analysts forecast that GitLab Inc. will post -0.41 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have issued reports on GTLB. BTIG Research lifted their price target on shares of GitLab from $58.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. DA Davidson restated a “neutral” rating and issued a $50.00 target price on shares of GitLab in a report on Monday, October 14th. TD Cowen increased their price target on GitLab from $63.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Robert W. Baird boosted their price objective on GitLab from $59.00 to $62.00 and gave the stock an “outperform” rating in a report on Wednesday, September 4th. Finally, KeyCorp raised their target price on shares of GitLab from $62.00 to $74.00 and gave the stock an “overweight” rating in a report on Tuesday. Three analysts have rated the stock with a hold rating, twenty have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $67.17.

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.