Lisanti Capital Growth LLC Makes New $4.63 Million Investment in GitLab Inc. (NASDAQ:GTLB)

Lisanti Capital Growth LLC bought a new position in GitLab Inc. (NASDAQ:GTLB) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 73,460 shares of the company’s stock, valued at approximately $4,625,000.

A number of other large investors have also made changes to their positions in the company. River Global Investors LLP grew its position in GitLab by 24.6% during the 4th quarter. River Global Investors LLP now owns 19,582 shares of the company’s stock worth $1,233,000 after purchasing an additional 3,860 shares in the last quarter. M&T Bank Corp purchased a new position in shares of GitLab during the fourth quarter valued at $271,000. Malaga Cove Capital LLC acquired a new position in GitLab during the fourth quarter valued at $325,000. Bordeaux Wealth Advisors LLC purchased a new stake in GitLab in the 4th quarter worth about $213,000. Finally, Amalgamated Bank boosted its position in GitLab by 2.6% during the 4th quarter. Amalgamated Bank now owns 19,236 shares of the company’s stock worth $1,211,000 after acquiring an additional 488 shares during the period. Institutional investors and hedge funds own 91.72% of the company’s stock.

GitLab Price Performance

Shares of GitLab stock traded up $0.67 during midday trading on Monday, hitting $55.21. The company had a trading volume of 1,029,704 shares, compared to its average volume of 2,503,084. GitLab Inc. has a 1-year low of $28.39 and a 1-year high of $78.53. The business’s 50 day simple moving average is $57.95 and its two-hundred day simple moving average is $58.71. The stock has a market cap of $8.76 billion, a PE ratio of -20.08 and a beta of 0.49.

GitLab (NASDAQ:GTLB) last posted its quarterly earnings data on Monday, March 4th. The company reported $0.15 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to the consensus estimate of $157.89 million. During the same quarter in the previous year, the firm posted ($0.26) EPS. The business’s revenue was up 33.3% compared to the same quarter last year. On average, sell-side analysts expect that GitLab Inc. will post -0.96 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. DA Davidson decreased their price target on shares of GitLab from $75.00 to $65.00 and set a “neutral” rating for the company in a report on Tuesday, March 5th. Royal Bank of Canada restated an “outperform” rating and set a $80.00 price target on shares of GitLab in a report on Tuesday, March 5th. Cantor Fitzgerald cut their price objective on GitLab from $80.00 to $70.00 and set an “overweight” rating for the company in a report on Tuesday, March 5th. Mizuho lowered their target price on GitLab from $87.00 to $75.00 and set a “buy” rating on the stock in a research note on Tuesday, March 5th. Finally, Sanford C. Bernstein raised their price target on GitLab from $71.00 to $76.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 5th. Three analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat.com, GitLab currently has an average rating of “Moderate Buy” and an average target price of $70.73.

Insiders Place Their Bets

In other news, CAO Erin Mannix sold 958 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $59.53, for a total transaction of $57,029.74. Following the sale, 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 accessible through the SEC website. In other GitLab news, CEO Sytse Sijbrandij sold 56,000 shares of the firm’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $54.92, for a total transaction of $3,075,520.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Erin Mannix sold 958 shares of the company’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 completion of the sale, the chief accounting officer now owns 74,908 shares in the company, valued at $4,459,273.24. The disclosure for this sale can be found here. In the last quarter, insiders sold 476,926 shares of company stock worth $26,869,893. 21.36% of the stock is currently owned by company insiders.

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.