Deutsche Bank AG Has $3.55 Million Stock Holdings in GitLab Inc. (NASDAQ:GTLB)

Deutsche Bank AG grew its stake in GitLab Inc. (NASDAQ:GTLB - Free Report) by 29.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 63,029 shares of the company's stock after acquiring an additional 14,468 shares during the quarter. Deutsche Bank AG's holdings in GitLab were worth $3,552,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. M&T Bank Corp raised its position in shares of GitLab by 3.1% during the fourth quarter. M&T Bank Corp now owns 4,965 shares of the company's stock worth $280,000 after purchasing an additional 148 shares during the period. Wilmington Savings Fund Society FSB increased its stake in GitLab by 7.9% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 2,050 shares of the company's stock worth $116,000 after purchasing an additional 150 shares in the last quarter. OneDigital Investment Advisors LLC raised its holdings in GitLab by 4.3% during the 4th quarter. OneDigital Investment Advisors LLC now owns 4,047 shares of the company's stock worth $228,000 after buying an additional 166 shares during the period. Utah Retirement Systems lifted its stake in GitLab by 3.1% in the fourth quarter. Utah Retirement Systems now owns 6,600 shares of the company's stock valued at $372,000 after buying an additional 200 shares in the last quarter. Finally, Mariner LLC boosted its holdings in shares of GitLab by 1.7% in the fourth quarter. Mariner LLC now owns 12,583 shares of the company's stock valued at $709,000 after buying an additional 214 shares during the period. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling 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 stock was sold at an average price of $42.87, for a total transaction of $4,655,682.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Susan L. Bostrom sold 40,000 shares of the business's stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $51.88, for a total value of $2,075,200.00. Following the completion of the sale, the director now 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 have sold a total of 461,584 shares of company stock worth $23,192,574 over the last ninety days. Insiders own 16.37% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on GTLB shares. Macquarie restated an "outperform" rating and set a $90.00 price objective on shares of GitLab in a report on Tuesday, March 4th. Needham & Company LLC reissued a "buy" rating and issued a $85.00 price target on shares of GitLab in a research note on Tuesday, March 4th. Mizuho cut their price target on GitLab from $80.00 to $72.00 and set an "outperform" rating on the stock in a report on Tuesday, March 4th. Truist Financial decreased their price objective on GitLab from $90.00 to $80.00 and set a "buy" rating for the company in a report on Monday, March 31st. Finally, Robert W. Baird dropped their target price on GitLab from $80.00 to $76.00 and set an "outperform" rating on the stock in a research report on Monday, March 3rd. Three equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $71.73.

GitLab Trading Down 0.6%

Shares of GTLB traded down $0.27 during mid-day trading on Monday, reaching $47.50. The company's stock had a trading volume of 1,866,308 shares, compared to its average volume of 2,595,525. The stock has a market cap of $7.79 billion, a P/E ratio of -148.44 and a beta of 0.79. GitLab Inc. has a 1-year low of $37.90 and a 1-year high of $74.18. The business has a 50-day simple moving average of $46.83 and a two-hundred day simple moving average of $56.88.

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.