Versor Investments LP Invests $1.75 Million in GitLab Inc. (NASDAQ:GTLB)

Versor Investments LP purchased a new stake in GitLab Inc. (NASDAQ:GTLB - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 34,000 shares of the company's stock, valued at approximately $1,752,000.

Several other institutional investors have also made changes to their positions in GTLB. Allspring Global Investments Holdings LLC lifted its position in shares of GitLab by 2,107.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 574 shares of the company's stock valued at $33,000 after acquiring an additional 548 shares during the period. Future Financial Wealth Managment LLC bought a new stake in GitLab during the third quarter worth about $52,000. Quarry LP grew its stake in GitLab by 527.0% during the second quarter. Quarry LP now owns 1,787 shares of the company's stock worth $89,000 after buying an additional 1,502 shares in the last quarter. Capital Performance Advisors LLP bought a new position in GitLab in the 3rd quarter valued at about $96,000. Finally, Canton Hathaway LLC increased its holdings in GitLab by 26.3% in the 2nd quarter. Canton Hathaway LLC now owns 2,086 shares of the company's stock valued at $104,000 after buying an additional 435 shares during the period. 91.72% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on GTLB shares. Barclays increased their price target on shares of GitLab from $50.00 to $55.00 and gave the stock an "equal weight" rating in a research report on Thursday, September 5th. Morgan Stanley assumed coverage on GitLab in a report on Wednesday, October 9th. They set an "overweight" rating and a $70.00 price target for the company. Baird R W raised GitLab to a "strong-buy" rating in a research note on Tuesday, August 27th. Scotiabank boosted their target price on GitLab from $59.00 to $65.00 and gave the stock a "sector outperform" rating in a research note on Wednesday, September 4th. Finally, Bank of America raised their price target on shares of GitLab from $66.00 to $68.00 and gave the company a "buy" rating in a research note on Wednesday, September 4th. Three research 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 stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $66.38.

GitLab Stock Down 0.6 %

GTLB traded down $0.35 during trading on Monday, reaching $60.15. 2,535,140 shares of the stock traded hands, compared to its average volume of 2,350,224. The stock's 50-day moving average is $53.57 and its 200 day moving average is $51.03. GitLab Inc. has a 12 month low of $40.72 and a 12 month high of $78.53. The stock has a market capitalization of $9.65 billion, a PE ratio of -25.80 and a beta of 0.45.

GitLab (NASDAQ:GTLB - Get Free Report) last announced its quarterly earnings data on Tuesday, September 3rd. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.10 by $0.05. GitLab had a negative net margin of 54.62% and a negative return on equity of 15.40%. The company had revenue of $182.58 million during the quarter, compared to the consensus estimate of $176.86 million. During the same quarter last year, the firm posted ($0.29) EPS. The company's quarterly revenue was up 30.8% on a year-over-year basis. As a group, equities research analysts anticipate that GitLab Inc. will post -0.41 EPS for the current year.

Insider Buying and Selling at GitLab

In other news, CAO Erin Mannix sold 1,433 shares of the company's stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $52.80, for a total transaction of $75,662.40. Following the transaction, the chief accounting officer now directly owns 72,448 shares of the company's stock, valued at $3,825,254.40. 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 is available through this link. In related news, CFO Brian G. Robins sold 16,666 shares of the firm's stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $56.74, for a total value of $945,628.84. Following the transaction, the chief financial officer now owns 242,803 shares of the company's stock, valued at approximately $13,776,642.22. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Erin Mannix sold 1,433 shares of the business's stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 72,448 shares of the company's stock, valued at $3,825,254.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 97,007 shares of company stock valued at $5,320,233. Company insiders own 21.36% of the company's stock.

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.