Lisanti Capital Growth LLC Invests $4.63 Million in GitLab Inc. (NASDAQ:GTLB)

Lisanti Capital Growth LLC acquired a new stake in GitLab Inc. (NASDAQ:GTLB) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 73,460 shares of the company’s stock, valued at approximately $4,625,000.

Other large investors have also bought and sold shares of the company. Atria Wealth Solutions Inc. increased its stake in shares of GitLab by 2.0% in the fourth quarter. Atria Wealth Solutions Inc. now owns 14,582 shares of the company’s stock valued at $918,000 after buying an additional 290 shares during the period. Asset Management One Co. Ltd. increased its position in GitLab by 2.6% during the 4th quarter. Asset Management One Co. Ltd. now owns 11,900 shares of the company’s stock valued at $769,000 after purchasing an additional 300 shares during the period. Vanguard Personalized Indexing Management LLC raised its holdings in GitLab by 9.2% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 5,223 shares of the company’s stock worth $236,000 after purchasing an additional 438 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of GitLab by 1.6% in the 3rd quarter. Victory Capital Management Inc. now owns 29,354 shares of the company’s stock worth $1,327,000 after purchasing an additional 475 shares during the period. Finally, Amalgamated Bank lifted its position in shares of GitLab by 2.6% in the 4th quarter. Amalgamated Bank now owns 19,236 shares of the company’s stock worth $1,211,000 after purchasing an additional 488 shares during the period. 91.72% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Robin Schulman sold 30,543 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $75.11, for a total value of $2,294,084.73. Following the completion of the transaction, the insider now directly owns 60,132 shares of the company’s stock, valued at $4,516,514.52. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Robin Schulman sold 30,543 shares of GitLab stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $75.11, for a total transaction of $2,294,084.73. Following the sale, the insider now directly owns 60,132 shares in the company, valued at approximately $4,516,514.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Brian G. Robins sold 13,000 shares of the stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $72.56, for a total transaction of $943,280.00. Following the transaction, the chief financial officer now owns 319,300 shares of the company’s stock, valued at approximately $23,168,408. The disclosure for this sale can be found here. Insiders have sold a total of 476,926 shares of company stock valued at $26,869,893 in the last 90 days. 21.36% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

GTLB has been the subject of a number of analyst reports. Raymond James raised shares of GitLab from a “market perform” rating to an “outperform” rating and set a $70.00 target price for the company in a research note on Friday, April 12th. Canaccord Genuity Group reissued a “buy” rating and issued a $74.00 price objective on shares of GitLab in a research report on Tuesday, March 5th. Mizuho cut their target price on GitLab from $87.00 to $75.00 and set a “buy” rating on the stock in a research report on Tuesday, March 5th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $80.00 target price on shares of GitLab in a research note on Tuesday, March 5th. Finally, Sanford C. Bernstein boosted their price target on GitLab from $71.00 to $76.00 and gave the company an “outperform” rating in a research note on Tuesday, March 5th. Three research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat.com, GitLab presently has an average rating of “Moderate Buy” and an average price target of $70.73.

GitLab Trading Up 1.2 %

Shares of NASDAQ:GTLB traded up $0.67 during mid-day trading on Monday, hitting $55.21. 1,029,704 shares of the company traded hands, compared to its average volume of 2,503,084. The stock has a market cap of $8.76 billion, a P/E ratio of -20.08 and a beta of 0.49. The stock has a 50-day moving average price of $57.95 and a two-hundred day moving average price of $58.71. GitLab Inc. has a 12-month low of $28.39 and a 12-month high of $78.53.

GitLab (NASDAQ:GTLB) last posted its quarterly earnings data on Monday, March 4th. The company reported $0.15 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $163.80 million for the quarter, compared to the consensus estimate of $157.89 million. During the same period in the previous year, the firm earned ($0.26) EPS. The business’s revenue for the quarter was up 33.3% compared to the same quarter last year. As a group, analysts expect that GitLab Inc. will post -0.96 earnings per share for the current year.

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.