New York State Common Retirement Fund Has $25.98 Million Stock Position in GitLab Inc. (NASDAQ:GTLB)

New York State Common Retirement Fund trimmed its position in shares of GitLab Inc. (NASDAQ:GTLB) by 5.8% during the third quarter, Holdings Channel.com reports. The fund owned 504,074 shares of the company’s stock after selling 31,146 shares during the quarter. New York State Common Retirement Fund’s holdings in GitLab were worth $25,980,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Capital Research Global Investors grew its stake in GitLab by 78.5% in the 1st quarter. Capital Research Global Investors now owns 7,040,410 shares of the company’s stock valued at $410,597,000 after purchasing an additional 3,096,437 shares during the period. Fiera Capital Corp boosted its position in GitLab by 1.2% during the second quarter. Fiera Capital Corp now owns 1,242,468 shares of the company’s stock worth $61,776,000 after purchasing an additional 14,687 shares during the period. Renaissance Technologies LLC raised its holdings in GitLab by 168.8% during the 2nd quarter. Renaissance Technologies LLC now owns 1,190,582 shares of the company’s stock valued at $59,196,000 after acquiring an additional 747,712 shares during the period. Westfield Capital Management Co. LP bought a new stake in shares of GitLab during the first quarter valued at about $49,196,000. Finally, Primecap Management Co. CA boosted its holdings in GitLab by 269.5% in the 2nd quarter. Primecap Management Co. CA now owns 827,040 shares of the company’s stock valued at $41,120,000 after purchasing an additional 603,200 shares during the period. 91.72% of the stock is owned by institutional investors.

Insider Activity

In other GitLab news, CEO Sytse Sijbrandij sold 56,000 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $54.68, for a total value of $3,062,080.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other GitLab news, CEO Sytse Sijbrandij sold 56,000 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $54.68, for a total transaction of $3,062,080.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Brian G. Robins sold 16,668 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $53.67, for a total value of $894,571.56. Following the sale, the chief financial officer now owns 250,109 shares of the company’s stock, valued at approximately $13,423,350.03. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 80,341 shares of company stock valued at $4,374,604 in the last ninety days. Insiders own 21.36% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. UBS Group lifted their target price on shares of GitLab from $62.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. BTIG Research increased their price target on shares of GitLab from $58.00 to $63.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $55.00 price objective on shares of GitLab in a research report on Monday, August 19th. Bank of America upped their target price on shares of GitLab from $66.00 to $68.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Finally, Scotiabank lifted their price objective on GitLab from $59.00 to $65.00 and gave the stock a “sector outperform” rating in a report on Wednesday, September 4th. Three equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $66.38.

GitLab Trading Up 5.9 %

Shares of GTLB opened at $56.94 on Monday. The business’s 50 day moving average is $52.40 and its 200 day moving average is $50.85. GitLab Inc. has a 12-month low of $40.19 and a 12-month high of $78.53. The company has a market capitalization of $9.14 billion, a PE ratio of -24.33 and a beta of 0.44.

GitLab (NASDAQ:GTLB) last issued its quarterly earnings data on Tuesday, September 3rd. The company reported $0.15 earnings per share (EPS) for the quarter, topping 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% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.29) EPS. Equities research analysts predict that GitLab Inc. will post -0.41 earnings per share for the current year.

About GitLab

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.