Bordeaux Wealth Advisors LLC Purchases Shares of 3,376 GitLab Inc. (NASDAQ:GTLB)

Bordeaux Wealth Advisors LLC acquired a new position in shares of GitLab Inc. (NASDAQ:GTLB) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 3,376 shares of the company’s stock, valued at approximately $213,000.

Several other institutional investors and hedge funds have also recently modified their holdings of GTLB. Ramirez Asset Management Inc. purchased a new stake in GitLab in the 3rd quarter valued at $36,000. SRS Capital Advisors Inc. bought a new stake in shares of GitLab in the 3rd quarter worth $40,000. Harvest Fund Management Co. Ltd purchased a new stake in shares of GitLab in the fourth quarter valued at about $71,000. Canton Hathaway LLC lifted its position in shares of GitLab by 100.0% during the fourth quarter. Canton Hathaway LLC now owns 1,188 shares of the company’s stock valued at $75,000 after purchasing an additional 594 shares in the last quarter. Finally, Federated Hermes Inc. purchased a new position in GitLab during the third quarter worth about $112,000. 91.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GTLB has been the topic of several recent analyst reports. Wolfe Research raised shares of GitLab from a “peer perform” rating to an “outperform” rating and set a $75.00 target price on the stock in a research report on Wednesday, March 6th. Capital One Financial initiated coverage on GitLab in a research report on Friday, March 22nd. They issued an “overweight” rating and a $72.00 price objective on the stock. Cantor Fitzgerald reduced their price objective on GitLab from $80.00 to $70.00 and set an “overweight” rating for the company in a research note on Tuesday, March 5th. Wells Fargo & Company began coverage on GitLab in a research note on Tuesday, April 9th. They set an “overweight” rating and a $70.00 target price on the stock. Finally, KeyCorp started coverage on shares of GitLab in a research report on Tuesday, March 19th. They set an “overweight” rating and a $70.00 price target for the company. Three research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $70.73.

GitLab Stock Performance

NASDAQ GTLB traded up $0.12 during trading hours on Friday, hitting $54.54. The company had a trading volume of 1,345,757 shares, compared to its average volume of 2,520,234. The firm has a 50 day simple moving average of $58.26 and a 200 day simple moving average of $58.49. GitLab Inc. has a 52 week low of $26.24 and a 52 week high of $78.53. The firm has a market capitalization of $8.65 billion, a price-to-earnings ratio of -19.83 and a beta of 0.49.

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

Insider Buying and Selling

In related news, CAO Erin Mannix sold 958 shares of the business’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $59.53, for a total transaction of $57,029.74. Following the completion of the transaction, the chief accounting officer now directly owns 74,908 shares in the company, valued at $4,459,273.24. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, CAO Erin Mannix sold 958 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $59.53, for a total value of $57,029.74. Following the sale, the chief accounting officer now directly owns 74,908 shares of the company’s stock, valued at $4,459,273.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sytse Sijbrandij sold 230,000 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $53.59, for a total transaction of $12,325,700.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 476,926 shares of company stock worth $26,869,893. Corporate insiders own 28.04% of the company’s stock.

GitLab 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.