Mark Sheptoff Financial Planning LLC Grows Stock Position in GitLab Inc. (NASDAQ:GTLB)

Mark Sheptoff Financial Planning LLC grew its stake in shares of GitLab Inc. (NASDAQ:GTLB) by 15.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,650 shares of the company’s stock after acquiring an additional 750 shares during the quarter. Mark Sheptoff Financial Planning LLC’s holdings in GitLab were worth $356,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Assetmark Inc. increased its position in GitLab by 35.3% during the fourth quarter. Assetmark Inc. now owns 22,582 shares of the company’s stock worth $1,422,000 after purchasing an additional 5,890 shares during the last quarter. Trexquant Investment LP increased its holdings in shares of GitLab by 122.1% during the 4th quarter. Trexquant Investment LP now owns 270,031 shares of the company’s stock worth $17,001,000 after buying an additional 148,428 shares during the last quarter. Clearbridge Investments LLC raised its position in shares of GitLab by 16.8% in the 4th quarter. Clearbridge Investments LLC now owns 407,984 shares of the company’s stock worth $25,687,000 after buying an additional 58,784 shares during the period. Norges Bank acquired a new position in GitLab in the fourth quarter valued at $222,591,000. Finally, Level Four Advisory Services LLC purchased a new position in shares of GitLab in the 4th quarter worth about $389,000. Institutional investors and hedge funds own 91.72% of the company’s stock.

Insider Buying and Selling at GitLab

In other GitLab news, CEO Sytse Sijbrandij sold 56,000 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $54.92, for a total value of $3,075,520.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO Sytse Sijbrandij sold 56,000 shares of the stock in a transaction on Monday, April 15th. The stock was sold at an average price of $54.92, for a total value of $3,075,520.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Brian G. Robins sold 60,000 shares of GitLab stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $56.08, for a total transaction of $3,364,800.00. Following the sale, the chief financial officer now owns 346,146 shares in the company, valued at $19,411,867.68. The disclosure for this sale can be found here. Over the last three months, insiders have sold 433,383 shares of company stock worth $23,632,528. 21.36% of the stock is owned by insiders.

GitLab Stock Performance

Shares of NASDAQ GTLB traded down $0.80 during midday trading on Thursday, hitting $56.64. The company’s stock had a trading volume of 1,201,096 shares, compared to its average volume of 2,394,689. GitLab Inc. has a 1-year low of $32.65 and a 1-year high of $78.53. The firm’s fifty day moving average price is $55.81 and its 200-day moving average price is $59.64. The firm has a market cap of $8.98 billion, a P/E ratio of -21.24 and a beta of 0.49.

GitLab (NASDAQ:GTLB) last issued its earnings results on Monday, March 4th. The company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.07. The company had revenue of $163.80 million during the quarter, compared to the consensus estimate of $157.89 million. GitLab had a negative return on equity of 18.26% and a negative net margin of 73.14%. GitLab’s quarterly revenue was up 33.3% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.26) earnings per share. As a group, research analysts predict that GitLab Inc. will post -0.96 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. KeyCorp initiated coverage on shares of GitLab in a research note on Tuesday, March 19th. They set an “overweight” rating and a $70.00 price objective for the company. Bank of America reduced their price objective on GitLab from $88.00 to $85.00 and set a “buy” rating on the stock in a research note on Tuesday, March 5th. Cantor Fitzgerald dropped their target price on GitLab from $80.00 to $70.00 and set an “overweight” rating on the stock in a report on Tuesday, March 5th. DA Davidson lowered their price objective on shares of GitLab from $75.00 to $65.00 and set a “neutral” rating for the company in a research report on Tuesday, March 5th. Finally, Wells Fargo & Company began coverage on shares of GitLab in a research report on Tuesday, April 9th. They set an “overweight” rating and a $70.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, GitLab currently has an average rating of “Moderate Buy” and an average target price of $70.50.

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.