Fiera Capital Corp Buys 16,961 Shares of GitLab Inc. (NASDAQ:GTLB)

Fiera Capital Corp increased its stake in shares of GitLab Inc. (NASDAQ:GTLB - Free Report) by 1.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,259,429 shares of the company's stock after purchasing an additional 16,961 shares during the period. Fiera Capital Corp owned 0.78% of GitLab worth $64,911,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Blair William & Co. IL grew its position in shares of GitLab by 55.3% during the 1st quarter. Blair William & Co. IL now owns 41,382 shares of the company's stock valued at $2,413,000 after buying an additional 14,738 shares during the last quarter. Comerica Bank boosted its stake in shares of GitLab by 2,076.2% during the 1st quarter. Comerica Bank now owns 66,373 shares of the company's stock valued at $3,871,000 after buying an additional 63,323 shares during the period. Tidal Investments LLC bought a new stake in shares of GitLab in the 1st quarter valued at approximately $922,000. William Blair Investment Management LLC bought a new position in GitLab during the second quarter valued at about $16,071,000. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of GitLab by 188.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 194,417 shares of the company's stock worth $11,339,000 after buying an additional 126,917 shares during the last quarter. Hedge funds and other institutional investors own 91.72% of the company's stock.

GitLab Stock Performance

Shares of NASDAQ GTLB traded down $0.69 during trading on Friday, hitting $60.50. 1,195,229 shares of the company were exchanged, compared to its average volume of 2,349,375. The firm has a market capitalization of $9.71 billion, a PE ratio of -25.85 and a beta of 0.45. The company has a fifty day moving average price of $53.57 and a 200-day moving average price of $51.10. GitLab Inc. has a 12-month low of $40.72 and a 12-month high of $78.53.

GitLab (NASDAQ:GTLB - Get Free Report) last announced its quarterly earnings data on Tuesday, September 3rd. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.05. The business had revenue of $182.58 million for the quarter, compared to analysts' expectations 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 revenue for the quarter was up 30.8% compared to the same quarter last year. During the same period last year, the firm earned ($0.29) earnings per share. Research analysts anticipate that GitLab Inc. will post -0.41 earnings per share for the current fiscal year.

Insider Buying and Selling at GitLab

In other news, CFO Brian G. Robins sold 16,668 shares of the company's stock in a transaction on Monday, September 9th. The shares were sold at an average price of $53.67, for a total value of $894,571.56. Following the completion of the transaction, the chief financial officer now directly owns 250,109 shares in the company, valued at approximately $13,423,350.03. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other GitLab news, CAO Erin Mannix sold 1,433 shares of the company's stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $52.80, for a total value of $75,662.40. Following the transaction, the chief accounting officer now owns 72,448 shares of the company's stock, valued at approximately $3,825,254.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Brian G. Robins sold 16,668 shares of the business's stock in a transaction on Monday, September 9th. The shares were sold at an average price of $53.67, for a total transaction of $894,571.56. Following the sale, the chief financial officer now directly owns 250,109 shares in the company, valued at approximately $13,423,350.03. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 97,007 shares of company stock worth $5,320,233. Insiders own 21.36% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on GTLB. BTIG Research upped their price objective on GitLab from $58.00 to $63.00 and gave the company a "buy" rating in a research note on Wednesday, September 4th. Scotiabank upped their price target on shares of GitLab from $59.00 to $65.00 and gave the company a "sector outperform" rating in a report on Wednesday, September 4th. Robert W. Baird raised 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. TD Cowen upped their price target on shares of GitLab from $58.00 to $63.00 and gave the company a "buy" rating in a research note on Wednesday, September 4th. Finally, UBS Group raised their target price on shares of GitLab from $62.00 to $65.00 and gave the company a "buy" rating in a report on Wednesday, September 4th. Three investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $66.38.

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.