Nomura Holdings Inc. Sells 34,608 Shares of GitLab Inc. (NASDAQ:GTLB)

Nomura Holdings Inc. lessened its holdings in GitLab Inc. (NASDAQ:GTLB - Free Report) by 79.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor 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 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of GTLB. EverSource Wealth Advisors LLC lifted its stake in GitLab by 5,700.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 522 shares of the company's stock valued at $29,000 after purchasing an additional 513 shares during the last quarter. CoreCap Advisors LLC grew its stake in shares of GitLab by 327.5% during the fourth 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. acquired a new position in shares of GitLab during the fourth quarter worth $46,000. Raleigh Capital Management Inc. bought a new position in shares of GitLab in the 4th quarter valued at $66,000. Finally, Smartleaf Asset Management LLC lifted its stake in shares of GitLab by 1,067.6% in the 4th 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 during the last quarter. Institutional investors and hedge funds own 95.04% of the company's stock.

Insider Activity

In other news, 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 owns 111,983 shares of the company's stock, valued at $5,039,235. This represents a 2.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Matthew Jacobson sold 152,884 shares of the firm's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $52.34, for a total value of $8,001,948.56. Following the completion of the sale, the director now owns 493,554 shares of the company's stock, valued at approximately $25,832,616.36. This represents a 23.65% 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 in the last quarter. 16.37% of the stock is owned by corporate insiders.

GitLab Stock Up 0.2%

GTLB traded up $0.07 during trading on Tuesday, hitting $47.57. The company's stock had a trading volume of 357,658 shares, compared to its average volume of 2,587,070. The firm has a market capitalization of $7.80 billion, a P/E ratio of -149.02 and a beta of 0.79. GitLab Inc. has a twelve month low of $37.90 and a twelve month high of $74.18. The stock's fifty day moving average price is $46.83 and its 200-day moving average price is $56.88.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on GTLB shares. DA Davidson reduced their price objective on GitLab from $60.00 to $45.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Royal Bank of Canada restated an "outperform" rating and set a $80.00 price target on shares of GitLab in a report on Tuesday, March 4th. Needham & Company LLC reaffirmed a "buy" rating and issued a $85.00 price objective on shares of GitLab in a research note on Tuesday, March 4th. Truist Financial cut their target price on shares of GitLab from $90.00 to $80.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. Finally, Barclays cut their price target on shares of GitLab from $70.00 to $58.00 and set an "equal weight" rating on the stock in a report on Tuesday, March 4th. Three research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, GitLab has a consensus rating of "Moderate Buy" and a consensus target price of $71.73.

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.