GitLab Inc. (NASDAQ:GTLB – Get Rating) major shareholder 2021 Gp L.L.C. Gv bought 415,000 shares of the stock in a transaction that occurred on Monday, March 13th. The stock was bought at an average cost of $29.29 per share, for a total transaction of $12,155,350.00. Following the transaction, the insider now owns 1,709,527 shares of the company’s stock, valued at approximately $50,072,045.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.
GitLab Trading Up 5.3 %
GitLab stock opened at $35.22 on Friday. GitLab Inc. has a 12 month low of $30.92 and a 12 month high of $70.96. The stock’s 50 day moving average is $46.05 and its 200-day moving average is $46.99. The company has a market capitalization of $5.27 billion, a price-to-earnings ratio of -30.10 and a beta of -0.18.
GitLab (NASDAQ:GTLB – Get Rating) last posted its earnings results on Monday, March 13th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.11. GitLab had a negative return on equity of 23.18% and a negative net margin of 40.61%. The company had revenue of $122.90 million for the quarter, compared to the consensus estimate of $119.59 million. During the same quarter in the prior year, the business earned ($0.25) earnings per share. The firm’s revenue for the quarter was up 58.0% on a year-over-year basis. As a group, equities research analysts predict that GitLab Inc. will post -1.32 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
Institutional Investors Weigh In On GitLab
A number of large investors have recently added to or reduced their stakes in GTLB. Raymond James & Associates grew its position in GitLab by 62.6% during the first quarter. Raymond James & Associates now owns 4,289 shares of the company’s stock worth $234,000 after buying an additional 1,652 shares in the last quarter. Bank of New York Mellon Corp grew its position in GitLab by 3,816.3% during the first quarter. Bank of New York Mellon Corp now owns 182,343 shares of the company’s stock worth $9,930,000 after buying an additional 177,687 shares in the last quarter. BlackRock Inc. grew its position in GitLab by 13.1% during the first 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 in the last quarter. Blair William & Co. IL grew its position in GitLab by 229.4% during the first 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 in the last quarter. Finally, Sei Investments Co. acquired a new stake in GitLab during the first quarter worth approximately $1,634,000. Institutional investors and hedge funds own 48.99% of the company’s stock.
GitLab Company Profile
GitLab Inc, through its subsidiaries, develops software for the software development lifecycle in the United States, Europe, and the Asia Pacific. The company 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.
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