Dimensional Fund Advisors LP Raises Stake in GitLab Inc. (NASDAQ:GTLB)

Dimensional Fund Advisors LP boosted its holdings in shares of GitLab Inc. (NASDAQ:GTLB - Free Report) by 30.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 85,949 shares of the company's stock after acquiring an additional 19,846 shares during the period. Dimensional Fund Advisors LP owned 0.05% of GitLab worth $4,843,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. M&T Bank Corp boosted its stake in GitLab by 3.1% during the 4th quarter. M&T Bank Corp now owns 4,965 shares of the company's stock valued at $280,000 after purchasing an additional 148 shares during the last quarter. Wilmington Savings Fund Society FSB raised its position in GitLab by 7.9% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 2,050 shares of the company's stock worth $116,000 after buying an additional 150 shares during the last quarter. Mariner LLC lifted its stake in GitLab by 1.7% during the 4th quarter. Mariner LLC now owns 12,583 shares of the company's stock valued at $709,000 after acquiring an additional 214 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of GitLab by 0.3% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 91,445 shares of the company's stock valued at $4,713,000 after acquiring an additional 281 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its stake in shares of GitLab by 17.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,263 shares of the company's stock worth $128,000 after acquiring an additional 328 shares during the period. 95.04% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at GitLab

In other GitLab news, insider Sytse Sijbrandij sold 108,600 shares of the business's stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $42.87, for a total value of $4,655,682.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Karen Blasing sold 3,250 shares of the stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $45.00, for a total transaction of $146,250.00. Following the transaction, the director now directly owns 111,983 shares of the company's stock, valued at $5,039,235. This trade represents a 2.82% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 304,734 shares of company stock valued at $14,879,081 in the last three months. 16.37% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Robert W. Baird lowered their price objective on shares of GitLab from $80.00 to $76.00 and set an "outperform" rating on the stock in a research report on Monday, March 3rd. JPMorgan Chase & Co. lowered their target price on GitLab from $65.00 to $62.00 and set a "neutral" rating on the stock in a report on Tuesday, March 4th. Barclays cut their price target on GitLab from $70.00 to $58.00 and set an "equal weight" rating for the company in a research note on Tuesday, March 4th. Macquarie reaffirmed an "outperform" rating and set a $90.00 price target on shares of GitLab in a research report on Tuesday, March 4th. Finally, KeyCorp lowered their price objective on shares of GitLab from $80.00 to $60.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. Three analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, GitLab presently has an average rating of "Moderate Buy" and a consensus target price of $71.73.

GitLab Trading Up 5.9%

Shares of GTLB opened at $52.06 on Tuesday. The business's 50 day moving average is $47.35 and its 200 day moving average is $57.36. GitLab Inc. has a 12-month low of $37.90 and a 12-month high of $74.18. The company has a market capitalization of $8.45 billion, a PE ratio of -162.69 and a beta of 0.79.

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.

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