The Vanguard Group, Inc. has recently announced that it has increased stake in Gitlab Inc (NASDAQ:GTLB) by 6.53%. After grabbing 8.2 million shares, the institutional investor is now in possession of 0.5 million shares of the Technology Company. The new investment brought the stake of investor firm to 7.60% having worth around $516.14 million. Moreover, Invesco Advisers, Inc. increased its share by 1.74 million to have a control over 4.13 million shares. And BlackRock Fund Advisors raised its holdings to 1.19 million shares by acquiring 3.76 million shares or 3.48% of the stake.
Gitlab Inc (GTLB) concluded trading on Wednesday at a closing price of $68.48, with 3.04 million shares of worth about $208.5 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 40.13% during that period and On Wednesday, January 24 the price saw a loss of about -3.11%. Currently the company’s common shares owned by public are about 155.70M shares, out of which, 98.00M shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 127 times over the past 12 months. They bought 15,108,601 shares in 37 of the transactions. In 90 selling transactions, insiders dumped 18,529,867 shares.
American Funds Small Cap World Fu, Vanguard Total Stock Market ETF, and Vanguard Small Cap Index Fund are the top 3 mutual funds which are holding stakes in Gitlab Inc American Funds Small Cap World Fu is currently holding 3.48 million shares of worth totaling $219.08 million. The company recently came buying 0.0 shares which brought its stake up to 3.23% of the company’s outstanding shares. Vanguard Total Stock Market ETF bought 0.39 million shares, after which its hold over company’s outstanding shares expand to 2.74%, leaving 2.96 million shares with the mutual fund that have a worth of about $186.39 million. Vanguard Small Cap Index Fund, after buying 2.39 million shares, have now control over 2.21% of the stake in the company. It holds 0.26 million shares of worth $150.2 million.
However, the stock later moved at a day high price of 71.71, or with a loss of -3.11%. Stock saw a price change of 7.91% in past 5 days and over the past one month there was a price change of 8.29%. Year-to-date (YTD), GTLB shares are showing a performance of 8.77% which increased to 40.13% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $26.24 but also hit the highest price of $71.91 during that period. The average intraday trading volume for Gitlab Inc shares is 2.33 million. The stock is currently trading 8.72% above its 20-day simple moving average (SMA20), while that difference is up 19.19% for SMA50 and it goes to 46.58% higher than SMA200.
The Vanguard Group, Inc. acquired 8.2 million shares of Gitlab Inc having value of about $516.14 million. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 0.5 million shares in the company valued at close to $34426744.96, or have control over 6.53% stake in the company. Gitlab Inc (NASDAQ: GTLB) currently have 155.70M outstanding shares and institutions hold larger chunk of about 52.21% of that. Holding of mutual funds in the company is about 36.98% while other institutional holders and individual stake holders have control over 38.54% and 21.69% of the stake respectively.
The stock has a current market capitalization of $10.66B and its 3Y-monthly beta is at 0.53. It has posted earnings per share of -$2.77 in the same period. It has Quick Ratio of 1.97 while making debt-to-equity ratio of 0.00. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for GTLB, volatility over the week remained 4.68% while standing at 4.08% over the month.
Analysts are in expectations that Gitlab Inc (GTLB) stock would likely to be making an EPS of $0.08 in the current quarter, while forecast for next quarter EPS is $0.06 and it is $0.34 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.06 which is $0.11 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.03 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 128.13% while it is estimated to increase by 173.07% in next year.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Mizuho on January 08, 2024 offering a Buy rating for the stock and assigned a target price of $73 to it.
