GitLab Inc. (NASDAQ:GTLB) Shares Sold by Nomura Holdings Inc.

Nomura Holdings Inc. lessened its stake in shares of GitLab Inc. (NASDAQ:GTLB - Free Report) by 79.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,208 shares of the company's stock after selling 34,608 shares during the quarter. Nomura Holdings Inc.'s holdings in GitLab were worth $519,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. EverSource Wealth Advisors LLC lifted its position in shares of GitLab by 5,700.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 522 shares of the company's stock worth $29,000 after buying an additional 513 shares during the last quarter. CoreCap Advisors LLC lifted its position in shares of GitLab by 327.5% during the 4th quarter. CoreCap Advisors LLC now owns 590 shares of the company's stock worth $33,000 after buying an additional 452 shares during the last quarter. IMG Wealth Management Inc. purchased a new stake in shares of GitLab during the 4th quarter worth approximately $46,000. Raleigh Capital Management Inc. purchased a new stake in shares of GitLab during the 4th quarter worth approximately $66,000. Finally, Smartleaf Asset Management LLC lifted its position 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 buying an additional 1,153 shares during the last quarter. Hedge funds and other institutional investors own 95.04% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on GTLB. Royal Bank of Canada restated an "outperform" rating and set a $80.00 price objective on shares of GitLab in a research report on Tuesday, March 4th. Needham & Company LLC restated a "buy" rating and set a $85.00 price objective on shares of GitLab in a research report on Tuesday, March 4th. Robert W. Baird reduced their price target on shares of GitLab from $80.00 to $76.00 and set an "outperform" rating for the company in a research report on Monday, March 3rd. KeyCorp reduced their price target on shares of GitLab from $80.00 to $60.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Finally, Mizuho reduced their price target on shares of GitLab from $80.00 to $72.00 and set an "outperform" rating for the company in a research report on Tuesday, March 4th. Three investment 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 stock. According to data from MarketBeat, GitLab has an average rating of "Moderate Buy" and a consensus price target of $71.73.

Insider Transactions at GitLab

In other news, CFO Brian G. Robins sold 45,000 shares of the stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $53.04, for a total transaction of $2,386,800.00. Following the transaction, the chief financial officer now directly owns 344,105 shares in the company, valued at $18,251,329.20. This represents a 11.57% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Karen Blasing sold 3,250 shares of the firm's stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $45.00, for a total transaction of $146,250.00. Following the completion of the transaction, the director now owns 111,983 shares in the company, valued at $5,039,235. The trade was a 2.82% decrease in their position. 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 in the last three months. Company insiders own 16.37% of the company's stock.

GitLab Trading Up 1.1%

Shares of GitLab stock traded up $0.50 during mid-day trading on Tuesday, hitting $48.00. 2,452,566 shares of the stock were exchanged, compared to its average volume of 2,594,959. GitLab Inc. has a twelve month low of $37.90 and a twelve month high of $74.18. The stock has a market capitalization of $7.87 billion, a price-to-earnings ratio of -150.00 and a beta of 0.79. The company has a 50-day simple moving average of $46.76 and a 200 day simple moving average of $56.82.

GitLab Company 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.