GitLab Inc. (NASDAQ:GTLB) Shares Purchased by Federated Hermes Inc.

Federated Hermes Inc. raised its holdings in shares of GitLab Inc. (NASDAQ:GTLB) by 456.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,831 shares of the company’s stock after purchasing an additional 11,346 shares during the period. Federated Hermes Inc.’s holdings in GitLab were worth $871,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in GTLB. Ramirez Asset Management Inc. bought a new stake in GitLab during the third quarter valued at $36,000. SRS Capital Advisors Inc. bought a new position in shares of GitLab during the third quarter worth about $40,000. Canton Hathaway LLC grew its position in shares of GitLab by 100.0% during the fourth quarter. Canton Hathaway LLC now owns 1,188 shares of the company’s stock worth $75,000 after acquiring an additional 594 shares during the last quarter. Rakuten Securities Inc. bought a new position in shares of GitLab during the fourth quarter worth about $132,000. Finally, Wildcat Capital Management LLC bought a new position in shares of GitLab during the third quarter worth about $155,000. Institutional investors own 91.72% of the company’s stock.

Insider Activity

In other news, CEO Sytse Sijbrandij sold 230,000 shares of the company’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $53.59, for a total value of $12,325,700.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, CFO Brian G. Robins sold 60,000 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $56.08, for a total value of $3,364,800.00. Following the transaction, the chief financial officer now owns 346,146 shares in the company, valued at approximately $19,411,867.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sytse Sijbrandij sold 230,000 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $53.59, for a total value of $12,325,700.00. The disclosure for this sale can be found here. Insiders have sold 476,926 shares of company stock worth $26,869,893 in the last 90 days. Company insiders own 28.04% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on GTLB. Mizuho lowered their price target on shares of GitLab from $87.00 to $75.00 and set a “buy” rating for the company in a research report on Tuesday, March 5th. Wolfe Research upgraded shares of GitLab from a “peer perform” rating to an “outperform” rating and set a $75.00 price target for the company in a research report on Wednesday, March 6th. Capital One Financial began coverage on shares of GitLab in a research report on Friday, March 22nd. They set an “overweight” rating and a $72.00 price target for the company. Sanford C. Bernstein upped their price target on shares of GitLab from $71.00 to $76.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 5th. Finally, KeyCorp initiated coverage on shares of GitLab in a research report on Tuesday, March 19th. They set an “overweight” rating and a $70.00 price target for the company. Three analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to MarketBeat, GitLab currently has an average rating of “Moderate Buy” and a consensus price target of $70.73.

GitLab Trading Up 1.7 %

Shares of NASDAQ GTLB opened at $53.36 on Thursday. GitLab Inc. has a twelve month low of $26.24 and a twelve month high of $78.53. The company has a market capitalization of $8.46 billion, a price-to-earnings ratio of -19.40 and a beta of 0.45. The firm has a 50-day moving average of $58.88 and a two-hundred day moving average of $58.47.

GitLab (NASDAQ:GTLB) last issued its quarterly earnings results on Monday, March 4th. The company reported $0.15 earnings per share for the quarter, beating 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 company had revenue of $163.80 million during the quarter, compared to the consensus estimate of $157.89 million. During the same period in the prior year, the company earned ($0.26) EPS. GitLab’s revenue was up 33.3% on a year-over-year basis. As a group, research analysts predict 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.