GitLab Inc. $GTLB Shares Sold by Rhumbline Advisers

Rhumbline Advisers lessened its holdings in GitLab Inc. (NASDAQ:GTLB) by 3.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 145,160 shares of the company’s stock after selling 5,152 shares during the quarter. Rhumbline Advisers owned about 0.09% of GitLab worth $6,823,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of GTLB. Captrust Financial Advisors increased its holdings in GitLab by 28.3% in the 4th quarter. Captrust Financial Advisors now owns 18,215 shares of the company’s stock worth $1,026,000 after buying an additional 4,015 shares during the period. Cetera Investment Advisers increased its holdings in GitLab by 76.4% in the 4th quarter. Cetera Investment Advisers now owns 38,787 shares of the company’s stock worth $2,186,000 after buying an additional 16,796 shares during the period. Deutsche Bank AG increased its holdings in GitLab by 29.8% in the 4th quarter. Deutsche Bank AG now owns 63,029 shares of the company’s stock worth $3,552,000 after buying an additional 14,468 shares during the period. Gotham Asset Management LLC grew its stake in shares of GitLab by 39.3% during the 4th quarter. Gotham Asset Management LLC now owns 35,410 shares of the company’s stock worth $1,995,000 after purchasing an additional 9,999 shares during the period. Finally, Janus Henderson Group PLC grew its stake in shares of GitLab by 5.5% during the 4th quarter. Janus Henderson Group PLC now owns 49,594 shares of the company’s stock worth $2,794,000 after purchasing an additional 2,600 shares during the period. Institutional investors and hedge funds own 95.04% of the company’s stock.

GitLab Stock Performance

GitLab stock opened at $50.30 on Friday. The company’s fifty day moving average price is $45.13 and its 200 day moving average price is $46.80. GitLab Inc. has a 1 year low of $37.90 and a 1 year high of $74.18. The stock has a market capitalization of $8.31 billion, a P/E ratio of -1,257.50 and a beta of 0.75.

GitLab (NASDAQ:GTLB) last released its quarterly earnings results on Tuesday, June 10th. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.02. GitLab had a negative net margin of 0.55% and a negative return on equity of 2.71%. The firm had revenue of $214.51 million for the quarter, compared to analysts’ expectations of $213.21 million. During the same quarter last year, the company earned $0.03 EPS. The firm’s revenue for the quarter was up 26.8% compared to the same quarter last year. Sell-side analysts predict that GitLab Inc. will post -0.31 EPS for the current year.

Analysts Set New Price Targets

GTLB has been the topic of a number of analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $60.00 price objective on shares of GitLab in a research note on Thursday, September 4th. Wells Fargo & Company dropped their price objective on shares of GitLab from $60.00 to $55.00 and set an “overweight” rating on the stock in a research note on Thursday, September 4th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $62.00 price objective on shares of GitLab in a research note on Wednesday, June 25th. Cowen reaffirmed a “buy” rating on shares of GitLab in a research note on Friday, June 6th. Finally, DA Davidson dropped their price objective on shares of GitLab from $50.00 to $45.00 and set a “neutral” rating on the stock in a research note on Thursday, September 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $58.88.

Insider Activity at GitLab

In other GitLab news, Director Matthew Jacobson sold 143,205 shares of the firm’s stock in a transaction on Monday, September 8th. The stock was sold at an average price of $46.80, for a total value of $6,701,994.00. Following the transaction, the director owned 498,098 shares in the company, valued at approximately $23,310,986.40. This trade represents a 22.33% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Karen Blasing sold 3,250 shares of the firm’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $45.00, for a total value of $146,250.00. Following the completion of the transaction, the director owned 103,889 shares in the company, valued at $4,675,005. The trade was a 3.03% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 608,155 shares of company stock valued at $26,727,350. 16.37% of the stock is owned by company insiders.

About GitLab

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.