Nuveen Asset Management LLC Has $21.44 Million Holdings in GitLab Inc. (NASDAQ:GTLB)

Nuveen Asset Management LLC lessened its stake in GitLab Inc. (NASDAQ:GTLB - Free Report) by 5.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 380,409 shares of the company's stock after selling 21,835 shares during the quarter. Nuveen Asset Management LLC owned approximately 0.23% of GitLab worth $21,436,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in GTLB. Barclays PLC boosted its holdings in shares of GitLab by 189.1% in the 3rd quarter. Barclays PLC now owns 61,419 shares of the company's stock valued at $3,164,000 after buying an additional 40,171 shares during the last quarter. Park Avenue Securities LLC boosted its holdings in shares of GitLab by 44.5% in the 4th quarter. Park Avenue Securities LLC now owns 7,220 shares of the company's stock valued at $407,000 after buying an additional 2,225 shares during the last quarter. Merit Financial Group LLC acquired a new stake in shares of GitLab in the 4th quarter valued at approximately $406,000. SG Americas Securities LLC boosted its holdings in shares of GitLab by 594.9% in the 4th quarter. SG Americas Securities LLC now owns 16,074 shares of the company's stock valued at $906,000 after buying an additional 13,761 shares during the last quarter. Finally, Janney Montgomery Scott LLC boosted its holdings in shares of GitLab by 11.0% in the 4th quarter. Janney Montgomery Scott LLC now owns 40,446 shares of the company's stock valued at $2,279,000 after buying an additional 3,995 shares during the last quarter. Institutional investors and hedge funds own 95.04% of the company's stock.

GitLab Trading Up 0.4%

GTLB stock traded up $0.18 during trading hours on Thursday, hitting $46.43. 689,581 shares of the stock were exchanged, compared to its average volume of 2,743,936. The firm has a market capitalization of $7.61 billion, a P/E ratio of -144.89 and a beta of 0.79. The company has a 50-day simple moving average of $46.67 and a two-hundred day simple moving average of $56.74. GitLab Inc. has a 12 month low of $37.90 and a 12 month high of $74.18.

Insiders Place Their Bets

In other GitLab news, insider Sytse Sijbrandij sold 108,600 shares of the stock in a transaction 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Brian G. Robins sold 45,000 shares of the firm's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $53.04, for a total value of $2,386,800.00. Following the completion of the transaction, the chief financial officer now owns 344,105 shares in the company, valued at $18,251,329.20. The trade was a 11.57% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 461,584 shares of company stock worth $23,192,574 in the last 90 days. Company insiders own 16.37% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. DA Davidson cut their price objective on GitLab from $60.00 to $45.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Macquarie reissued an "outperform" rating and issued a $90.00 price objective on shares of GitLab in a report on Tuesday, March 4th. Truist Financial dropped their price target on GitLab from $90.00 to $80.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. JPMorgan Chase & Co. dropped their price target on GitLab from $65.00 to $62.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 4th. Finally, Robert W. Baird dropped their price target on GitLab from $80.00 to $76.00 and set an "outperform" rating on the stock in a research note on Monday, March 3rd. Three equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, GitLab has a consensus rating of "Moderate Buy" and a consensus price target of $71.73.

About GitLab

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.