GitLab Inc. (NASDAQ:GTLB) Shares Acquired by Whetstone Capital Advisors LLC

Whetstone Capital Advisors LLC increased its position in shares of GitLab Inc. (NASDAQ:GTLB - Free Report) by 60.8% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 110,544 shares of the company's stock after buying an additional 41,804 shares during the quarter. GitLab comprises 2.7% of Whetstone Capital Advisors LLC's investment portfolio, making the stock its 14th biggest holding. Whetstone Capital Advisors LLC owned about 0.07% of GitLab worth $5,697,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Future Financial Wealth Managment LLC purchased a new position in GitLab in the 3rd quarter valued at $52,000. Rakuten Securities Inc. lifted its stake in shares of GitLab by 268.1% in the 3rd quarter. Rakuten Securities Inc. now owns 1,417 shares of the company's stock worth $73,000 after acquiring an additional 1,032 shares during the period. Quarry LP boosted its holdings in shares of GitLab by 527.0% in the second quarter. Quarry LP now owns 1,787 shares of the company's stock valued at $89,000 after acquiring an additional 1,502 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in shares of GitLab during the third quarter worth about $96,000. Finally, Canton Hathaway LLC raised its holdings in GitLab by 26.3% during the second quarter. Canton Hathaway LLC now owns 2,086 shares of the company's stock worth $104,000 after purchasing an additional 435 shares in the last quarter. Institutional investors and hedge funds own 91.72% of the company's stock.

Insider Transactions at GitLab

In other 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 transaction of $75,662.40. Following the completion of the sale, the chief accounting officer now directly owns 72,448 shares in the company, valued at $3,825,254.40. This represents a 1.94 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Robin Schulman sold 2,990 shares of GitLab stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $55.00, for a total value of $164,450.00. Following the completion of the transaction, the insider now owns 136,076 shares in the company, valued at $7,484,180. The trade was a 2.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 185,033 shares of company stock worth $10,569,356 in the last three months. Company insiders own 21.36% of the company's stock.

GitLab Trading Down 0.4 %

GTLB traded down $0.25 during trading on Monday, hitting $66.37. The company's stock had a trading volume of 2,575,570 shares, compared to its average volume of 2,340,026. GitLab Inc. has a twelve month low of $40.72 and a twelve month high of $78.53. The firm's 50 day moving average price is $55.32 and its 200-day moving average price is $51.54.

GitLab (NASDAQ:GTLB - Get Free Report) last released its earnings results on Tuesday, September 3rd. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.10 by $0.05. GitLab had a negative return on equity of 15.40% and a negative net margin of 54.62%. The firm had revenue of $182.58 million during the quarter, compared to analyst estimates of $176.86 million. During the same period in the prior year, the firm posted ($0.29) earnings per share. The business's quarterly revenue was up 30.8% compared to the same quarter last year. As a group, analysts forecast that GitLab Inc. will post -0.41 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on GTLB. Cantor Fitzgerald upgraded GitLab to a "strong-buy" rating in a research report on Tuesday, November 12th. Royal Bank of Canada boosted their target price on shares of GitLab from $55.00 to $60.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 4th. Wells Fargo & Company increased their price target on shares of GitLab from $70.00 to $75.00 and gave the company an "overweight" rating in a report on Wednesday, September 4th. UBS Group boosted their price objective on shares of GitLab from $62.00 to $65.00 and gave the stock a "buy" rating in a report on Wednesday, September 4th. Finally, Barclays lifted their price target on shares of GitLab from $50.00 to $55.00 and gave the company an "equal weight" rating in a research report on Thursday, September 5th. Three equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $66.67.

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.