Cetera Investment Advisers grew its holdings in shares of GitLab Inc. (NASDAQ:GTLB - Free Report) by 76.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 38,787 shares of the company's stock after buying an additional 16,796 shares during the quarter. Cetera Investment Advisers' holdings in GitLab were worth $2,186,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of GTLB. EverSource Wealth Advisors LLC raised its holdings in GitLab by 5,700.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 522 shares of the company's stock valued at $29,000 after acquiring an additional 513 shares in the last quarter. IMG Wealth Management Inc. acquired a new stake in GitLab in the fourth quarter valued at $46,000. Raleigh Capital Management Inc. acquired a new stake in GitLab in the fourth quarter valued at $66,000. Smartleaf Asset Management LLC raised its holdings in GitLab by 1,067.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,261 shares of the company's stock valued at $71,000 after acquiring an additional 1,153 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC raised its holdings in GitLab by 4,273.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,312 shares of the company's stock valued at $74,000 after acquiring an additional 1,282 shares in the last quarter. 95.04% of the stock is currently owned by hedge funds and other institutional investors.
GitLab Trading Down 0.6%
Shares of GTLB traded down $0.27 during midday trading on Friday, hitting $47.50. The stock had a trading volume of 1,866,308 shares, compared to its average volume of 2,595,525. GitLab Inc. has a fifty-two week low of $37.90 and a fifty-two week high of $74.18. The business has a 50-day simple moving average of $46.91 and a two-hundred day simple moving average of $57.00. The firm has a market cap of $7.79 billion, a P/E ratio of -148.44 and a beta of 0.79.
Analyst Ratings Changes
A number of analysts have weighed in on the stock. JPMorgan Chase & Co. dropped their target price on shares of GitLab from $65.00 to $62.00 and set a "neutral" rating on the stock in a report on Tuesday, March 4th. Robert W. Baird dropped their target price on shares of GitLab from $80.00 to $76.00 and set an "outperform" rating on the stock in a report on Monday, March 3rd. Royal Bank of Canada reissued an "outperform" rating and set a $80.00 target price on shares of GitLab in a report on Tuesday, March 4th. Mizuho dropped their target price on shares of GitLab from $80.00 to $72.00 and set an "outperform" rating on the stock in a report on Tuesday, March 4th. Finally, Needham & Company LLC reissued a "buy" rating and set a $85.00 target price on shares of GitLab in a report on Tuesday, March 4th. Three analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $71.73.
Get Our Latest Research Report on GTLB
Insider Transactions at GitLab
In other news, insider Sytse Sijbrandij sold 108,600 shares of the stock in a transaction that occurred 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Susan L. Bostrom sold 40,000 shares of the stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $51.88, for a total transaction of $2,075,200.00. Following the completion of the sale, the director now directly owns 144,913 shares of the company's stock, valued at $7,518,086.44. This trade represents a 21.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 461,584 shares of company stock valued at $23,192,574 over the last three months. 21.36% of the stock is owned by corporate insiders.
GitLab Company Profile
(
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.
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