Sfmg LLC Makes New $211,000 Investment in GitLab Inc. (NASDAQ:GTLB)

Sfmg LLC bought a new position in GitLab Inc. (NASDAQ:GTLB) in the 4th quarter, Holdings Channel.com reports. The fund bought 3,352 shares of the company’s stock, valued at approximately $211,000.

Several other large investors also recently added to or reduced their stakes in GTLB. Raymond James & Associates grew its position in GitLab by 62.6% in the first quarter. Raymond James & Associates now owns 4,289 shares of the company’s stock worth $234,000 after acquiring an additional 1,652 shares in the last quarter. Bank of New York Mellon Corp grew its position in GitLab by 3,816.3% in the first quarter. Bank of New York Mellon Corp now owns 182,343 shares of the company’s stock worth $9,930,000 after acquiring an additional 177,687 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of GitLab by 13.1% during the 1st quarter. BlackRock Inc. now owns 2,821,575 shares of the company’s stock worth $153,635,000 after buying an additional 327,244 shares during the period. Blair William & Co. IL boosted its holdings in shares of GitLab by 229.4% during the 1st quarter. Blair William & Co. IL now owns 34,096 shares of the company’s stock worth $1,857,000 after buying an additional 23,746 shares during the period. Finally, Sei Investments Co. bought a new stake in shares of GitLab during the 1st quarter worth $1,634,000. 91.72% of the stock is owned by institutional investors.

Insider Buying and Selling

In other GitLab news, insider Robin Schulman sold 15,712 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $75.02, for a total transaction of $1,178,714.24. Following the sale, the insider now directly owns 60,132 shares in the company, valued at approximately $4,511,102.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Robin Schulman sold 15,712 shares of GitLab stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $75.02, for a total value of $1,178,714.24. Following the sale, the insider now directly owns 60,132 shares in the company, valued at $4,511,102.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Erin Mannix sold 958 shares of GitLab stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $59.53, for a total transaction of $57,029.74. Following the completion of the sale, the chief accounting officer now owns 74,908 shares in the company, valued at $4,459,273.24. The disclosure for this sale can be found here. Insiders have sold 567,638 shares of company stock valued at $33,342,857 in the last 90 days. 28.04% of the stock is owned by insiders.

GitLab Price Performance

Shares of NASDAQ:GTLB opened at $53.51 on Thursday. GitLab Inc. has a 12 month low of $26.24 and a 12 month high of $78.53. The company’s 50-day moving average price is $62.68 and its two-hundred day moving average price is $57.90.

GitLab (NASDAQ:GTLB) last issued its earnings results on Monday, March 4th. The company reported $0.15 earnings per share (EPS) 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 company had revenue of $163.80 million for the quarter, compared to analyst estimates of $157.89 million. During the same quarter last year, the firm earned ($0.26) EPS. The company’s revenue for the quarter was up 33.3% on a year-over-year basis. On average, sell-side analysts expect that GitLab Inc. will post -0.96 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Raymond James raised shares of GitLab from a “market perform” rating to an “outperform” rating and set a $70.00 price objective for the company in a report on Friday, April 12th. DA Davidson decreased their price objective on shares of GitLab from $75.00 to $65.00 and set a “neutral” rating for the company in a report on Tuesday, March 5th. Mizuho decreased their price objective on shares of GitLab from $87.00 to $75.00 and set a “buy” rating for the company in a report on Tuesday, March 5th. KeyCorp assumed coverage on shares of GitLab in a report on Tuesday, March 19th. They set an “overweight” rating and a $70.00 price objective for the company. Finally, Cantor Fitzgerald decreased their price objective on shares of GitLab from $80.00 to $70.00 and set an “overweight” rating for the company in a report 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. Based on data from MarketBeat, GitLab has an average rating of “Moderate Buy” and an average target price of $70.73.

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.