Lecap Asset Management Ltd. Makes New $595,000 Investment in GitLab Inc. (NASDAQ:GTLB)

Lecap Asset Management Ltd. bought a new position in GitLab Inc. (NASDAQ:GTLB) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 11,964 shares of the company’s stock, valued at approximately $595,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Fiera Capital Corp boosted its stake in GitLab by 0.5% in the fourth quarter. Fiera Capital Corp now owns 1,199,817 shares of the company’s stock worth $75,540,000 after buying an additional 5,446 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in GitLab by 10.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 531,731 shares of the company’s stock valued at $33,478,000 after purchasing an additional 51,612 shares during the last quarter. Blair William & Co. IL lifted its position in GitLab by 55.3% in the first quarter. Blair William & Co. IL now owns 41,382 shares of the company’s stock valued at $2,413,000 after purchasing an additional 14,738 shares during the last quarter. Banque Cantonale Vaudoise bought a new stake in GitLab in the first quarter valued at approximately $58,000. Finally, Balyasny Asset Management L.P. lifted its position in GitLab by 520.6% in the fourth quarter. Balyasny Asset Management L.P. now owns 748,636 shares of the company’s stock valued at $47,134,000 after purchasing an additional 627,999 shares during the last quarter. Hedge funds and other institutional investors own 91.72% of the company’s stock.

GitLab Stock Down 1.3 %

Shares of NASDAQ GTLB traded down $0.62 during trading on Thursday, reaching $46.64. The company had a trading volume of 281,774 shares, compared to its average volume of 2,518,371. GitLab Inc. has a 12-month low of $40.19 and a 12-month high of $78.53. The stock has a market cap of $7.41 billion, a PE ratio of -17.19 and a beta of 0.46. The business’s 50-day moving average is $48.20 and its 200 day moving average is $54.95.

GitLab (NASDAQ:GTLB) last released its earnings results on Monday, June 3rd. The company reported ($0.24) EPS for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.09. GitLab had a negative return on equity of 19.14% and a negative net margin of 68.52%. The firm had revenue of $169.19 million for the quarter, compared to analysts’ expectations of $165.66 million. On average, analysts anticipate that GitLab Inc. will post -0.5 earnings per share for the current year.

Insider Activity at GitLab

In related news, CEO Sytse Sijbrandij sold 56,000 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $48.99, for a total transaction of $2,743,440.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CEO Sytse Sijbrandij sold 56,000 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $48.99, for a total transaction of $2,743,440.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Brian G. Robins sold 11,667 shares of the stock in a transaction on Friday, June 7th. The shares were sold at an average price of $43.56, for a total value of $508,214.52. Following the sale, the chief financial officer now directly owns 305,175 shares in the company, valued at $13,293,423. The disclosure for this sale can be found here. Insiders have sold 140,275 shares of company stock valued at $6,848,847 over the last ninety days. Insiders own 21.36% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on GTLB shares. Bank of America lowered their price objective on GitLab from $85.00 to $80.00 and set a “buy” rating for the company in a research report on Tuesday, June 4th. BTIG Research lowered their price objective on GitLab from $71.00 to $58.00 and set a “buy” rating for the company in a research report on Tuesday, June 4th. DA Davidson decreased their target price on GitLab from $65.00 to $50.00 and set a “neutral” rating for the company in a report on Tuesday, June 4th. Citic Securities began coverage on GitLab in a report on Monday, June 3rd. They set a “buy” rating and a $80.00 target price for the company. Finally, Canaccord Genuity Group decreased their target price on GitLab from $74.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday, June 5th. Four research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $67.30.

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.