Assetmark Inc. Has $2.17 Million Stake in GitLab Inc. (NASDAQ:GTLB)

Assetmark Inc. lifted its stake in GitLab Inc. (NASDAQ:GTLB) by 11.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 42,103 shares of the company’s stock after purchasing an additional 4,312 shares during the quarter. Assetmark Inc.’s holdings in GitLab were worth $2,170,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Capital Research Global Investors boosted its position in GitLab by 78.5% during the first quarter. Capital Research Global Investors now owns 7,040,410 shares of the company’s stock valued at $410,597,000 after purchasing an additional 3,096,437 shares during the last quarter. Fiera Capital Corp raised its stake in shares of GitLab by 1.4% during the 3rd quarter. Fiera Capital Corp now owns 1,259,429 shares of the company’s stock worth $64,911,000 after purchasing an additional 16,961 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of GitLab by 168.8% during the 2nd quarter. Renaissance Technologies LLC now owns 1,190,582 shares of the company’s stock valued at $59,196,000 after buying an additional 747,712 shares during the last quarter. Westfield Capital Management Co. LP bought a new stake in shares of GitLab in the 1st quarter valued at approximately $49,196,000. Finally, Primecap Management Co. CA increased its holdings in GitLab by 269.5% in the second quarter. Primecap Management Co. CA now owns 827,040 shares of the company’s stock worth $41,120,000 after buying an additional 603,200 shares during the last quarter. 91.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on GTLB shares. Robert W. Baird lifted their target price on shares of GitLab from $59.00 to $62.00 and gave the company an “outperform” rating in a research note on Wednesday, September 4th. Barclays lifted their price objective on shares of GitLab from $50.00 to $55.00 and gave the company an “equal weight” rating in a research note on Thursday, September 5th. Needham & Company LLC raised shares of GitLab from a “hold” rating to a “buy” rating and set a $70.00 target price on the stock in a research report on Monday, October 21st. Scotiabank boosted their price target on GitLab from $59.00 to $65.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, September 4th. Finally, BTIG Research upped their price target on GitLab from $58.00 to $63.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Three investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $66.38.

GitLab Stock Up 1.6 %

GTLB stock opened at $60.93 on Thursday. GitLab Inc. has a twelve month low of $40.72 and a twelve month high of $78.53. The company has a market cap of $9.78 billion, a PE ratio of -26.04 and a beta of 0.45. The business’s 50-day simple moving average is $54.13 and its 200 day simple moving average is $51.09.

GitLab (NASDAQ:GTLB) last announced 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 return on equity of 15.40% and a negative net margin of 54.62%. The company’s quarterly revenue was up 30.8% on a year-over-year basis. During the same quarter last year, the company earned ($0.29) EPS. On average, equities research analysts anticipate that GitLab Inc. will post -0.41 EPS for the current year.

Insiders Place Their Bets

In other GitLab news, CEO Sytse Sijbrandij sold 56,000 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $54.68, for a total value of $3,062,080.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Sytse Sijbrandij sold 56,000 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $54.68, for a total value of $3,062,080.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Robin Schulman sold 2,990 shares of the business’s stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $55.00, for a total value of $164,450.00. Following the completion of the sale, the insider now directly owns 136,076 shares in the company, valued at approximately $7,484,180. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 97,007 shares of company stock worth $5,320,233 over the last 90 days. Corporate insiders own 21.36% 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.