18,160 Shares in GitLab Inc. (NASDAQ:GTLB) Bought by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. purchased a new stake in GitLab Inc. (NASDAQ:GTLB) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 18,160 shares of the company’s stock, valued at approximately $1,143,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Invesco Ltd. grew its holdings in GitLab by 71.3% during the third quarter. Invesco Ltd. now owns 4,236,833 shares of the company’s stock worth $191,590,000 after purchasing an additional 1,762,944 shares during the period. Vanguard Group Inc. boosted its stake in shares of GitLab by 6.8% during the 3rd quarter. Vanguard Group Inc. now owns 8,317,446 shares of the company’s stock worth $376,115,000 after acquiring an additional 530,702 shares during the period. Lord Abbett & CO. LLC acquired a new position in shares of GitLab during the 3rd quarter worth approximately $21,385,000. Wellington Management Group LLP raised its stake in GitLab by 280.3% in the 3rd quarter. Wellington Management Group LLP now owns 628,987 shares of the company’s stock valued at $28,443,000 after acquiring an additional 463,584 shares during the period. Finally, CloudAlpha Capital Management Limited Hong Kong acquired a new stake in GitLab during the 3rd quarter valued at $8,434,000. Institutional investors own 91.72% of the company’s stock.

Analyst Ratings Changes

GTLB has been the topic of several research reports. Mizuho decreased their price objective on shares of GitLab from $87.00 to $75.00 and set a “buy” rating on the stock in a report on Tuesday, March 5th. Wolfe Research upgraded shares of GitLab from a “peer perform” rating to an “outperform” rating and set a $75.00 price objective for the company in a research report on Wednesday, March 6th. TD Cowen dropped their price target on GitLab from $80.00 to $76.00 and set an “outperform” rating for the company in a report on Tuesday, March 5th. KeyCorp began coverage on shares of GitLab in a research note on Tuesday, March 19th. They issued an “overweight” rating and a $70.00 price target on the stock. Finally, Truist Financial reiterated a “buy” rating and issued a $80.00 price objective on shares of GitLab in a research note on Monday, April 1st. Three investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat.com, GitLab currently has a consensus rating of “Moderate Buy” and a consensus target price of $70.73.

GitLab Trading Up 2.0 %

GTLB stock opened at $52.52 on Tuesday. The firm has a 50-day moving average price of $61.28 and a 200-day moving average price of $58.16. GitLab Inc. has a 12 month low of $26.24 and a 12 month high of $78.53. The stock has a market capitalization of $8.33 billion, a P/E ratio of -19.10 and a beta of 0.46.

GitLab (NASDAQ:GTLB) last issued its quarterly earnings data on Monday, March 4th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.08 by $0.07. The business had revenue of $163.80 million during the quarter, compared to the consensus estimate of $157.89 million. GitLab had a negative net margin of 73.14% and a negative return on equity of 18.26%. The firm’s revenue was up 33.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.26) EPS. As a group, equities analysts predict that GitLab Inc. will post -0.96 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CAO Erin Mannix sold 958 shares of GitLab stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $59.53, for a total transaction of $57,029.74. Following the sale, the chief accounting officer now directly owns 74,908 shares of the company’s stock, valued at $4,459,273.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Robin Schulman sold 30,543 shares of the business’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $75.11, for a total value of $2,294,084.73. Following the sale, the insider now owns 60,132 shares of the company’s stock, valued at $4,516,514.52. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Erin Mannix sold 958 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $59.53, for a total value of $57,029.74. Following the transaction, the chief accounting officer now directly owns 74,908 shares of the company’s stock, valued at $4,459,273.24. The disclosure for this sale can be found here. Insiders have sold 492,638 shares of company stock worth $28,048,607 in the last 90 days. Insiders own 28.04% of the company’s stock.

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.