Ensign Peak Advisors Inc boosted its stake in shares of GitLab Inc. (NASDAQ:GTLB - Free Report) by 137.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 133,822 shares of the company's stock after purchasing an additional 77,543 shares during the quarter. Ensign Peak Advisors Inc owned about 0.08% of GitLab worth $7,541,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its holdings in shares of GitLab by 5,700.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 522 shares of the company's stock worth $29,000 after purchasing an additional 513 shares during the period. CoreCap Advisors LLC boosted its stake in shares of GitLab by 327.5% in the fourth quarter. CoreCap Advisors LLC now owns 590 shares of the company's stock worth $33,000 after acquiring an additional 452 shares during the last quarter. IMG Wealth Management Inc. acquired a new position in GitLab during the fourth quarter worth $46,000. Raleigh Capital Management Inc. acquired a new position in GitLab during the fourth quarter worth $66,000. Finally, Smartleaf Asset Management LLC grew its holdings in shares of GitLab by 1,067.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,261 shares of the company's stock worth $71,000 after purchasing an additional 1,153 shares during the period. Institutional investors own 95.04% of the company's stock.
Insider Activity
In other news, insider Sytse Sijbrandij sold 108,600 shares of the firm's stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $42.87, for a total value of $4,655,682.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Karen Blasing sold 3,250 shares of GitLab stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $51.58, for a total value of $167,635.00. Following the sale, the director now directly owns 108,733 shares in the company, valued at approximately $5,608,448.14. This trade represents a 2.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 461,584 shares of company stock worth $23,192,574 over the last quarter. Corporate insiders own 16.37% of the company's stock.
Analysts Set New Price Targets
Several equities analysts recently issued reports on GTLB shares. JPMorgan Chase & Co. decreased their target price on GitLab from $65.00 to $62.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 4th. Barclays reduced their price target on GitLab from $70.00 to $58.00 and set an "equal weight" rating on the stock in a research report on Tuesday, March 4th. Wells Fargo & Company reduced their price target on GitLab from $85.00 to $65.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Robert W. Baird reduced their price target on GitLab from $80.00 to $76.00 and set an "outperform" rating on the stock in a research report on Monday, March 3rd. Finally, Macquarie reaffirmed an "outperform" rating and issued a $90.00 price target on shares of GitLab in a research report on Tuesday, March 4th. Three investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $71.73.
Read Our Latest Stock Analysis on GTLB
GitLab Stock Down 0.6%
Shares of GTLB traded down $0.32 during mid-day trading on Friday, reaching $51.49. The company's stock had a trading volume of 1,942,409 shares, compared to its average volume of 2,562,688. The business has a fifty day moving average of $47.20 and a 200 day moving average of $57.27. The company has a market cap of $8.36 billion, a price-to-earnings ratio of -160.91 and a beta of 0.79. GitLab Inc. has a 1 year low of $37.90 and a 1 year high of $74.18.
About GitLab
(
Free Report)
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.
Featured Stories
Before you consider GitLab, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and GitLab wasn't on the list.
While GitLab currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Today, we are inviting you to take a free peek at our proprietary, exclusive, and up-to-the-minute list of 20 stocks that Wall Street's top analysts hate.
Many of these appear to have good fundamentals and might seem like okay investments, but something is wrong. Analysts smell something seriously rotten about these companies. These are true "Strong Sell" stocks.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
