Bryn Mawr Capital Management LLC Purchases Shares of 3,250 GitLab Inc. (NASDAQ:GTLB)

Bryn Mawr Capital Management LLC bought a new position in shares of GitLab Inc. (NASDAQ:GTLB) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,250 shares of the company’s stock, valued at approximately $205,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Invesco Ltd. increased its position in shares of 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 in the last quarter. Wellington Management Group LLP increased its position in shares of GitLab by 280.3% during the third quarter. Wellington Management Group LLP now owns 628,987 shares of the company’s stock worth $28,443,000 after purchasing an additional 463,584 shares in the last quarter. Black Swift Group LLC acquired a new stake in shares of GitLab during the fourth quarter worth about $1,574,000. Polar Capital Holdings Plc acquired a new stake in shares of GitLab during the third quarter worth about $7,558,000. Finally, Vanguard Group Inc. increased its position in shares of GitLab by 6.8% during the third quarter. Vanguard Group Inc. now owns 8,317,446 shares of the company’s stock worth $376,115,000 after purchasing an additional 530,702 shares in the last quarter. Institutional investors and hedge funds own 91.72% of the company’s stock.

GitLab Trading Down 1.0 %

GTLB stock opened at $55.46 on Monday. The firm has a 50 day moving average of $59.87 and a 200-day moving average of $58.40. GitLab Inc. has a 12-month low of $26.24 and a 12-month high of $78.53.

GitLab (NASDAQ:GTLB) last posted its quarterly earnings results on Monday, March 4th. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.07. GitLab had a negative net margin of 73.14% and a negative return on equity of 18.26%. The company had revenue of $163.80 million during the quarter, compared to the consensus estimate of $157.89 million. During the same period last year, the firm earned ($0.26) EPS. The company’s revenue for the quarter was up 33.3% on a year-over-year basis. Sell-side analysts forecast that GitLab Inc. will post -0.96 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Sytse Sijbrandij sold 230,000 shares of GitLab stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $53.59, for a total transaction of $12,325,700.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Sytse Sijbrandij sold 230,000 shares of GitLab stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $53.59, for a total transaction of $12,325,700.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Sundeep Bedi sold 9,000 shares of GitLab stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $58.64, for a total value of $527,760.00. Following the transaction, the director now owns 8,369 shares of the company’s stock, valued at $490,758.16. The disclosure for this sale can be found here. In the last three months, insiders sold 492,638 shares of company stock worth $28,048,607. Company insiders own 28.04% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on GTLB. Wells Fargo & Company assumed coverage on GitLab in a research report on Tuesday, April 9th. They set an “overweight” rating and a $70.00 target price on the stock. Bank of America lowered their price target on GitLab from $88.00 to $85.00 and set a “buy” rating on the stock in a report on Tuesday, March 5th. Cantor Fitzgerald lowered their price target on GitLab from $80.00 to $70.00 and set an “overweight” rating on the stock in a report on Tuesday, March 5th. UBS Group lowered their price target on GitLab from $81.00 to $75.00 and set a “buy” rating on the stock in a report on Tuesday, March 5th. Finally, KeyCorp assumed coverage on GitLab in a report on Tuesday, March 19th. They set an “overweight” rating and a $70.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $70.73.

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.