GitLab Inc. (NASDAQ:GTLB) Shares Sold by Glynn Capital Management LLC

Glynn Capital Management LLC decreased its holdings in shares of GitLab Inc. (NASDAQ:GTLB) by 1.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 436,827 shares of the company’s stock after selling 7,950 shares during the period. GitLab makes up about 5.1% of Glynn Capital Management LLC’s portfolio, making the stock its 7th largest position. Glynn Capital Management LLC owned approximately 0.28% of GitLab worth $27,503,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Pursue Wealth Partners LLC grew its stake in GitLab by 1.2% during the third quarter. Pursue Wealth Partners LLC now owns 23,911 shares of the company’s stock valued at $1,081,000 after acquiring an additional 273 shares in the last quarter. Atria Wealth Solutions Inc. boosted its stake in GitLab by 2.0% during the fourth quarter. Atria Wealth Solutions Inc. now owns 14,582 shares of the company’s stock valued at $918,000 after buying an additional 290 shares during the period. Asset Management One Co. Ltd. grew its position in GitLab by 2.6% during the fourth quarter. Asset Management One Co. Ltd. now owns 11,900 shares of the company’s stock worth $769,000 after buying an additional 300 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its position in GitLab by 9.2% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 5,223 shares of the company’s stock worth $236,000 after buying an additional 438 shares in the last quarter. Finally, Victory Capital Management Inc. increased its stake in GitLab by 1.6% in the 3rd quarter. Victory Capital Management Inc. now owns 29,354 shares of the company’s stock worth $1,327,000 after acquiring an additional 475 shares during the last quarter. 91.72% of the stock is owned by institutional investors.

Insider Buying and Selling

In other GitLab news, CEO Sytse Sijbrandij sold 56,000 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $54.92, for a total transaction of $3,075,520.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Sytse Sijbrandij sold 56,000 shares of the business’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $54.92, for a total transaction of $3,075,520.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Brian G. Robins sold 60,000 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $56.08, for a total transaction of $3,364,800.00. Following the completion of the sale, the chief financial officer now directly owns 346,146 shares in the company, valued at $19,411,867.68. The disclosure for this sale can be found here. Insiders sold a total of 476,926 shares of company stock valued at $26,869,893 over the last three months. Corporate insiders own 28.04% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $80.00 target price on shares of GitLab in a research note on Tuesday, March 5th. KeyCorp started coverage on GitLab in a research note on Tuesday, March 19th. They set an “overweight” rating and a $70.00 price target for the company. Mizuho reduced their price objective on GitLab from $87.00 to $75.00 and set a “buy” rating on the stock in a research report on Tuesday, March 5th. Truist Financial reissued a “buy” rating and set a $80.00 price objective on shares of GitLab in a report on Monday, April 1st. Finally, Cantor Fitzgerald cut their target price on GitLab from $80.00 to $70.00 and set an “overweight” rating for the company in a research note on Tuesday, March 5th. Three research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat.com, GitLab presently has a consensus rating of “Moderate Buy” and a consensus price target of $70.73.

GitLab Trading Up 1.9 %

Shares of GTLB stock traded up $0.98 during trading hours on Wednesday, reaching $53.45. The company’s stock had a trading volume of 853,851 shares, compared to its average volume of 2,537,136. The stock has a market capitalization of $8.48 billion, a P/E ratio of -19.17 and a beta of 0.45. The firm’s fifty day simple moving average is $59.16 and its 200 day simple moving average is $58.50. GitLab Inc. has a one year low of $26.24 and a one year high of $78.53.

GitLab (NASDAQ:GTLB) last released its quarterly earnings results on Monday, March 4th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.07. GitLab had a negative net margin of 73.14% and a negative return on equity of 18.26%. The business had revenue of $163.80 million for the quarter, compared to analysts’ expectations of $157.89 million. During the same quarter in the previous year, the business posted ($0.26) earnings per share. The firm’s revenue for the quarter was up 33.3% compared to the same quarter last year. As a group, equities research analysts forecast that GitLab Inc. will post -0.96 earnings per share 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.