Rakuten Securities Inc. Boosts Holdings in GitLab Inc. (NASDAQ:GTLB)

Rakuten Securities Inc. lifted its position in shares of GitLab Inc. (NASDAQ:GTLB) by 268.1% during the third quarter, HoldingsChannel reports. The firm owned 1,417 shares of the company’s stock after purchasing an additional 1,032 shares during the quarter. Rakuten Securities Inc.’s holdings in GitLab were worth $73,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Moloney Securities Asset Management LLC lifted its holdings in GitLab by 4.9% in the 2nd quarter. Moloney Securities Asset Management LLC now owns 6,400 shares of the company’s stock worth $318,000 after buying an additional 300 shares in the last quarter. Canton Hathaway LLC lifted its stake in shares of GitLab by 26.3% in the second quarter. Canton Hathaway LLC now owns 2,086 shares of the company’s stock worth $104,000 after acquiring an additional 435 shares in the last quarter. Blue Trust Inc. grew its stake in GitLab by 18.2% during the 3rd quarter. Blue Trust Inc. now owns 3,166 shares of the company’s stock valued at $157,000 after purchasing an additional 488 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in GitLab by 2,107.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 574 shares of the company’s stock worth $33,000 after purchasing an additional 548 shares during the last quarter. Finally, Caprock Group LLC raised its position in shares of GitLab by 1.9% in the 2nd quarter. Caprock Group LLC now owns 31,272 shares of the company’s stock valued at $1,555,000 after purchasing an additional 586 shares in the last quarter. 91.72% of the stock is currently owned by hedge funds and other institutional investors.

GitLab Price Performance

Shares of NASDAQ:GTLB opened at $59.95 on Wednesday. The company’s fifty day moving average is $53.82 and its two-hundred day moving average is $51.06. GitLab Inc. has a 12-month low of $40.72 and a 12-month high of $78.53.

GitLab (NASDAQ:GTLB) last posted its quarterly earnings results on Tuesday, September 3rd. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.05. The firm had revenue of $182.58 million for the quarter, compared to analyst estimates of $176.86 million. GitLab had a negative return on equity of 15.40% and a negative net margin of 54.62%. During the same period in the previous year, the firm earned ($0.29) earnings per share. GitLab’s quarterly revenue was up 30.8% on a year-over-year basis. On average, equities research analysts forecast that GitLab Inc. will post -0.41 EPS for the current fiscal year.

Analyst Ratings Changes

GTLB has been the subject of a number of research analyst reports. Baird R W upgraded shares of GitLab to a “strong-buy” rating in a research note on Tuesday, August 27th. Scotiabank increased their target price on GitLab from $59.00 to $65.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, September 4th. Robert W. Baird lifted their price target on GitLab from $59.00 to $62.00 and gave the company an “outperform” rating in a report on Wednesday, September 4th. Morgan Stanley started coverage on shares of GitLab in a report on Wednesday, October 9th. They issued an “overweight” rating and a $70.00 price objective for the company. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $55.00 price target on shares of GitLab in a research note on Monday, August 19th. Three 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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $66.38.

Insider Transactions at GitLab

In related news, CEO Sytse Sijbrandij sold 56,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $54.68, for a total transaction of $3,062,080.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related 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 transaction of $3,062,080.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Robin Schulman sold 2,990 shares of the business’s stock in a transaction dated 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. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 97,007 shares of company stock valued at $5,320,233 over the last three months. 21.36% of the stock is owned by corporate insiders.

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.