Qsemble Capital Management LP Has $1.11 Million Stake in GitLab Inc. (NASDAQ:GTLB)

Qsemble Capital Management LP increased its stake in shares of GitLab Inc. (NASDAQ:GTLB) by 392.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,023 shares of the company’s stock after buying an additional 15,162 shares during the quarter. Qsemble Capital Management LP’s holdings in GitLab were worth $1,109,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of GTLB. Swiss National Bank lifted its holdings in shares of GitLab by 3.5% in the first quarter. Swiss National Bank now owns 159,700 shares of the company’s stock worth $9,314,000 after buying an additional 5,400 shares in the last quarter. Oppenheimer Asset Management Inc. raised its position in shares of GitLab by 25.3% in the first quarter. Oppenheimer Asset Management Inc. now owns 15,449 shares of the company’s stock worth $901,000 after buying an additional 3,119 shares in the last quarter. Oppenheimer & Co. Inc. boosted its position in shares of GitLab by 104.9% during the 1st quarter. Oppenheimer & Co. Inc. now owns 7,262 shares of the company’s stock valued at $424,000 after acquiring an additional 3,718 shares during the last quarter. Sciencast Management LP bought a new stake in GitLab during the first quarter valued at approximately $234,000. Finally, Moloney Securities Asset Management LLC purchased a new stake in shares of GitLab during the 1st quarter valued at $356,000. 91.72% of the stock is currently owned by institutional investors.

GitLab Price Performance

GTLB traded up $2.22 during trading on Tuesday, reaching $50.66. 2,037,695 shares of the company’s stock were exchanged, compared to its average volume of 2,608,062. The company’s fifty day simple moving average is $50.01 and its 200-day simple moving average is $58.14. The stock has a market capitalization of $8.05 billion, a P/E ratio of -18.36 and a beta of 0.45. GitLab Inc. has a 1 year low of $40.19 and a 1 year high of $78.53.

GitLab (NASDAQ:GTLB) last issued its quarterly earnings results on Monday, June 3rd. The company reported ($0.24) EPS for the quarter, topping the consensus estimate of ($0.33) by $0.09. GitLab had a negative return on equity of 19.14% and a negative net margin of 68.52%. The firm had revenue of $169.19 million during the quarter, compared to analysts’ expectations of $165.66 million. Equities analysts forecast that GitLab Inc. will post -0.5 EPS for the current year.

Insider Buying and Selling at GitLab

In other news, CFO Brian G. Robins sold 11,667 shares of the stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $45.46, for a total transaction of $530,381.82. Following the sale, the chief financial officer now owns 293,508 shares of the company’s stock, valued at $13,342,873.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other GitLab news, CFO Brian G. Robins sold 11,667 shares of the stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $45.46, for a total value of $530,381.82. Following the sale, the chief financial officer now owns 293,508 shares of the company’s stock, valued at approximately $13,342,873.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Brian G. Robins sold 23,334 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $50.24, for a total transaction of $1,172,300.16. Following the transaction, the chief financial officer now owns 282,441 shares of the company’s stock, valued at approximately $14,189,835.84. The disclosure for this sale can be found here. Insiders sold a total of 50,611 shares of company stock worth $2,398,115 over the last three months. Insiders own 21.36% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on GTLB shares. Raymond James upgraded shares of GitLab from a “market perform” rating to an “outperform” rating and set a $70.00 price target on the stock in a research report on Friday, April 12th. KeyCorp decreased their price objective on shares of GitLab from $70.00 to $62.00 and set an “overweight” rating on the stock in a research report on Tuesday, June 4th. Mizuho reduced their price objective on shares of GitLab from $70.00 to $62.00 and set a “buy” rating on the stock in a research report on Tuesday, June 4th. BTIG Research dropped their price target on GitLab from $71.00 to $58.00 and set a “buy” rating on the stock in a research report on Tuesday, June 4th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of GitLab in a research report on Tuesday, June 4th. Four analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $67.30.

GitLab Company 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.