Gitlab Inc (NASDAQ: GTLB) is -7.37% lower on its value in year-to-date trading and has touched a low of $26.24 and a high of $78.53 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The GTLB stock was last observed hovering at around $58.75 in the last trading session, with the day’s loss setting it -0.43%.
Currently trading at $58.32, the stock is -2.62% and -12.60% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.02 million and changing -0.73% at the moment leaves the stock 7.62% off its SMA200. GTLB registered 72.04% gain for a year compared to 6-month gain of 35.82%. The firm has a 50-day simple moving average (SMA 50) of $14.16 and a 200-day simple moving average (SMA200) of -$45.40.
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The stock witnessed a -19.22% loss in the last 1 month and extending the period to 3 months gives it a -9.06%, and is -2.59% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 2.40% over the week and 4.03% over the month.
Gitlab Inc (GTLB) has around 2130 employees, a market worth around $7.95B and $579.91M in sales. Fwd P/E is 130.94. Profit margin for the company is -73.15%. Distance from 52-week low is 122.26% and -25.74% from its 52-week high. The company has generated returns on investments over the last 12 months (-74.26%).
Gitlab Inc quarterly earnings per share for the current quarter are estimated at -$0.03 with sales reaching $165.89M over the same period.The EPS is expected to grow by 11.19% this year, but quarterly earnings will post 26.20% year-over-year.
Gitlab Inc (GTLB) Top Institutional Holders
462 institutions hold shares in Gitlab Inc (GTLB), with institutional investors hold 72.81% of the company’s shares. The shares outstanding are 114.67M, and float is at 93.50M with Short Float at 3.43%. Institutions hold 69.52% of the Float.
The top institutional shareholder in the company is Morgan Stanley with over 9.6 million shares valued at $490.89 million. The investor’s holdings represent 9.23% of the GTLB Shares outstanding. As of Jun 29, 2023, the second largest holder is Vanguard Group Inc with 7.79 million shares valued at $397.98 million to account for 7.48% of the shares outstanding. The other top investors are ICONIQ Capital, LLC which holds 7.77 million shares representing 7.47% and valued at over $397.3 million, while HMI Capital Management, LP holds 7.11% of the shares totaling 7.41 million with a market value of $378.53 million.
Gitlab Inc (GTLB) Insider Activity
The most recent transaction is an insider sale by Bedi Sundeep,the company’sDirector. SEC filings show that Bedi Sundeep sold 9,000 shares of the company’s common stock on Mar 27 ’24 at a price of $58.64 per share for a total of $0.53 million. Following the sale, the insider now owns 8369.0 shares.
Gitlab Inc disclosed in a document filed with the SEC on Mar 21 ’24 that Schulman Robin (Chief Legal Officer & Corp Sec) sold a total of 2,425 shares of the company’s common stock. The trade occurred on Mar 21 ’24 and was made at $58.75 per share for $0.14 million. Following the transaction, the insider now directly holds 55150.0 shares of the GTLB stock.
Still, SEC filings show that on Mar 21 ’24, Mannix Erin (Chief Accounting Officer) disposed off 958 shares at an average price of $59.53 for $57026.0. The insider now directly holds 74,908 shares of Gitlab Inc (GTLB).
