Bank Julius Baer & Co. Ltd Zurich Has $807,000 Stock Holdings in GitLab Inc. (NASDAQ:GTLB)

Bank Julius Baer & Co. Ltd Zurich boosted its holdings in shares of GitLab Inc. (NASDAQ:GTLB) by 31.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,824 shares of the company’s stock after buying an additional 3,044 shares during the period. Bank Julius Baer & Co. Ltd Zurich’s holdings in GitLab were worth $807,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of GTLB. Invesco Ltd. raised its holdings in GitLab by 71.3% during the third quarter. Invesco Ltd. now owns 4,236,833 shares of the company’s stock worth $191,590,000 after buying an additional 1,762,944 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of GitLab by 6.8% in the third quarter. Vanguard Group Inc. now owns 8,317,446 shares of the company’s stock valued at $376,115,000 after purchasing an additional 530,702 shares during the last quarter. Lord Abbett & CO. LLC purchased a new stake in shares of GitLab in the third quarter valued at about $21,385,000. Wellington Management Group LLP raised its holdings in shares of GitLab by 280.3% in the third quarter. Wellington Management Group LLP now owns 628,987 shares of the company’s stock valued at $28,443,000 after purchasing an additional 463,584 shares during the last quarter. Finally, CloudAlpha Capital Management Limited Hong Kong raised its holdings in shares of GitLab by 108.4% in the fourth quarter. CloudAlpha Capital Management Limited Hong Kong now owns 388,700 shares of the company’s stock valued at $24,473,000 after purchasing an additional 202,200 shares during the last quarter. Institutional investors and hedge funds own 91.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Mizuho lowered their target price on shares of GitLab from $87.00 to $75.00 and set a “buy” rating for the company in a report on Tuesday, March 5th. UBS Group lowered their target price on shares of GitLab from $81.00 to $75.00 and set a “buy” rating for the company in a report on Tuesday, March 5th. Truist Financial reiterated a “buy” rating and issued a $80.00 target price on shares of GitLab in a report on Monday, April 1st. Wolfe Research upgraded shares of GitLab from a “peer perform” rating to an “outperform” rating and set a $75.00 target price for the company in a report on Wednesday, March 6th. Finally, Sanford C. Bernstein raised their price objective on shares of GitLab from $71.00 to $76.00 and gave the stock an “outperform” rating in a report on Tuesday, March 5th. Three equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to data from MarketBeat, GitLab presently has an average rating of “Moderate Buy” and a consensus target price of $70.73.

Insider Activity at GitLab

In related news, insider Robin Schulman sold 15,712 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $75.02, for a total value of $1,178,714.24. Following the sale, the insider now directly owns 60,132 shares of the company’s stock, valued at $4,511,102.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other GitLab news, insider Robin Schulman sold 15,712 shares of GitLab stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $75.02, for a total transaction of $1,178,714.24. Following the transaction, the insider now directly owns 60,132 shares of the company’s stock, valued at $4,511,102.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Sundeep Bedi sold 9,000 shares of GitLab stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $58.64, for a total transaction of $527,760.00. Following the transaction, the director now directly owns 8,369 shares in the company, valued at $490,758.16. The disclosure for this sale can be found here. Insiders have sold 492,638 shares of company stock valued at $28,048,607 over the last three months. 28.04% of the stock is owned by corporate insiders.

GitLab Trading Down 1.0 %

Shares of NASDAQ:GTLB opened at $55.46 on Friday. GitLab Inc. has a twelve month low of $26.24 and a twelve month high of $78.53. The company has a 50-day moving average price of $59.87 and a two-hundred day moving average price of $58.33.

GitLab (NASDAQ:GTLB) last announced its 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. The business had revenue of $163.80 million for the quarter, compared to the consensus estimate of $157.89 million. GitLab had a negative net margin of 73.14% and a negative return on equity of 18.26%. GitLab’s quarterly revenue was up 33.3% on a year-over-year basis. During the same period last year, the firm posted ($0.26) earnings per share. As a group, sell-side analysts anticipate that GitLab Inc. will post -0.96 EPS for the current fiscal 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.