Rakuten Securities Inc. Takes $132,000 Position in GitLab Inc. (NASDAQ:GTLB)

Rakuten Securities Inc. bought a new stake in GitLab Inc. (NASDAQ:GTLB) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 2,096 shares of the company’s stock, valued at approximately $132,000.

Other hedge funds have also made changes to their positions in the company. FMR LLC raised its stake in shares of GitLab by 80.0% in the 3rd quarter. FMR LLC now owns 603 shares of the company’s stock valued at $27,000 after acquiring an additional 268 shares during the period. Ossiam purchased a new position in shares of GitLab in the 1st quarter valued at $27,000. Quarry LP purchased a new position in shares of GitLab in the 2nd quarter valued at $30,000. Ramirez Asset Management Inc. purchased a new position in shares of GitLab in the 3rd quarter valued at $36,000. Finally, SRS Capital Advisors Inc. purchased a new position in shares of GitLab in the 3rd quarter valued at $40,000. Hedge funds and other institutional investors own 91.72% of the company’s stock.

GitLab Stock Performance

NASDAQ GTLB opened at $53.51 on Thursday. GitLab Inc. has a one year low of $26.24 and a one year high of $78.53. The company has a 50-day simple moving average of $62.68 and a 200-day simple moving average of $57.90. The firm has a market capitalization of $8.49 billion, a PE ratio of -19.46 and a beta of 0.45.

GitLab (NASDAQ:GTLB) last posted its quarterly earnings results on Monday, March 4th. The company reported $0.15 EPS for the quarter, beating the consensus estimate 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 business had revenue of $163.80 million during the quarter, compared to analyst estimates of $157.89 million. During the same period in the previous year, the business posted ($0.26) EPS. The company’s quarterly revenue was up 33.3% on a year-over-year basis. Equities analysts forecast that GitLab Inc. will post -0.96 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on GTLB shares. KeyCorp started coverage on shares of GitLab in a research note on Tuesday, March 19th. They set an “overweight” rating and a $70.00 price target on the stock. Wolfe Research raised shares of GitLab from a “peer perform” rating to an “outperform” rating and set a $75.00 price target on the stock in a research note on Wednesday, March 6th. Wells Fargo & Company started coverage on shares of GitLab in a research note on Tuesday, April 9th. They set an “overweight” rating and a $70.00 price target on the stock. Truist Financial reaffirmed a “buy” rating and set a $80.00 price target on shares of GitLab in a research note on Monday, April 1st. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $74.00 price target on shares of GitLab in a research note on Tuesday, March 5th. Three equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat.com, GitLab has an average rating of “Moderate Buy” and an average price target of $70.73.

Insider Activity

In other news, CEO Sytse Sijbrandij sold 56,000 shares of GitLab stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $54.92, for a total value of $3,075,520.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Sytse Sijbrandij sold 56,000 shares of GitLab stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $54.92, for a total value of $3,075,520.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Brian G. Robins sold 75,000 shares of the business’s stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $70.59, for a total transaction of $5,294,250.00. Following the transaction, the chief financial officer now directly owns 332,300 shares of the company’s stock, valued at $23,457,057. The disclosure for this sale can be found here. In the last three months, insiders sold 567,638 shares of company stock valued at $33,342,857. Company insiders own 28.04% 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. 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.