45,000 Shares in GitLab Inc. (NASDAQ:GTLB) Acquired by Caisse DE Depot ET Placement DU Quebec

Caisse DE Depot ET Placement DU Quebec acquired a new stake in shares of GitLab Inc. (NASDAQ:GTLB) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 45,000 shares of the company’s stock, valued at approximately $2,319,000.

Several other hedge funds have also recently modified their holdings of the stock. Future Financial Wealth Managment LLC bought a new stake in GitLab in the 3rd quarter valued at $52,000. Rakuten Securities Inc. increased its holdings in shares of GitLab by 268.1% in the third quarter. Rakuten Securities Inc. now owns 1,417 shares of the company’s stock worth $73,000 after purchasing an additional 1,032 shares during the last quarter. Quarry LP lifted its position in shares of GitLab by 527.0% in the second quarter. Quarry LP now owns 1,787 shares of the company’s stock worth $89,000 after buying an additional 1,502 shares in the last quarter. Capital Performance Advisors LLP bought a new position in GitLab during the third quarter valued at approximately $96,000. Finally, Canton Hathaway LLC increased its stake in GitLab by 26.3% in the 2nd quarter. Canton Hathaway LLC now owns 2,086 shares of the company’s stock worth $104,000 after acquiring an additional 435 shares during the last quarter. Hedge funds and other institutional investors own 91.72% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on GTLB. Cantor Fitzgerald upgraded GitLab to a “strong-buy” rating in a research report on Tuesday, November 12th. Bank of America lifted their price objective on shares of GitLab from $66.00 to $68.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Barclays upped their target price on shares of GitLab from $50.00 to $55.00 and gave the company an “equal weight” rating in a research report on Thursday, September 5th. BTIG Research lifted their price target on GitLab from $58.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Finally, KeyCorp boosted their price objective on GitLab from $62.00 to $74.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. Three investment analysts have rated the stock with a hold rating, twenty have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $67.17.

Insider Transactions at GitLab

In other GitLab news, CEO Sytse Sijbrandij sold 84,776 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $59.64, for a total value of $5,056,040.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Brian G. Robins sold 16,668 shares of the business’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $53.67, for a total value of $894,571.56. Following the transaction, the chief financial officer now owns 250,109 shares in the company, valued at approximately $13,423,350.03. This trade represents a 6.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 185,033 shares of company stock valued at $10,569,356. Corporate insiders own 21.36% of the company’s stock.

GitLab Price Performance

NASDAQ:GTLB opened at $62.99 on Tuesday. GitLab Inc. has a 1-year low of $40.72 and a 1-year high of $78.53. The firm has a market cap of $10.11 billion, a PE ratio of -26.92 and a beta of 0.45. The company has a 50-day moving average of $56.80 and a 200 day moving average of $51.97.

GitLab (NASDAQ:GTLB) last issued its quarterly earnings data on Tuesday, September 3rd. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.05. The company had revenue of $182.58 million during the quarter, compared to the consensus estimate of $176.86 million. GitLab had a negative net margin of 54.62% and a negative return on equity of 15.40%. GitLab’s revenue for the quarter was up 30.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.29) earnings per share. Sell-side analysts anticipate that GitLab Inc. will post -0.41 EPS 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.