Frontier Capital Management Co. LLC Has $12.16 Million Position in GitLab Inc. (NASDAQ:GTLB)

Frontier Capital Management Co. LLC raised its holdings in shares of GitLab Inc. (NASDAQ:GTLB - Free Report) by 95.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 215,730 shares of the company's stock after purchasing an additional 105,280 shares during the period. Frontier Capital Management Co. LLC owned about 0.13% of GitLab worth $12,156,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in GTLB. Norges Bank bought a new position in shares of GitLab during the fourth quarter worth about $279,089,000. Ameriprise Financial Inc. grew its position in shares of GitLab by 276.9% during the fourth quarter. Ameriprise Financial Inc. now owns 2,155,016 shares of the company's stock worth $121,435,000 after acquiring an additional 1,583,221 shares during the last quarter. Artisan Partners Limited Partnership grew its position in shares of GitLab by 55.7% during the fourth quarter. Artisan Partners Limited Partnership now owns 4,034,041 shares of the company's stock worth $227,318,000 after acquiring an additional 1,443,160 shares during the last quarter. Alliancebernstein L.P. grew its position in shares of GitLab by 4,042.0% during the fourth quarter. Alliancebernstein L.P. now owns 1,455,385 shares of the company's stock worth $82,011,000 after acquiring an additional 1,420,248 shares during the last quarter. Finally, Marshall Wace LLP grew its position in shares of GitLab by 572.3% during the fourth quarter. Marshall Wace LLP now owns 1,094,128 shares of the company's stock worth $61,654,000 after acquiring an additional 931,396 shares during the last quarter. Institutional investors own 95.04% of the company's stock.

GitLab Stock Performance

NASDAQ GTLB traded up $0.07 on Wednesday, reaching $53.43. The company's stock had a trading volume of 2,401,854 shares, compared to its average volume of 2,560,156. GitLab Inc. has a twelve month low of $37.90 and a twelve month high of $74.18. The stock has a market cap of $8.67 billion, a PE ratio of -166.97 and a beta of 0.79. The firm's 50 day moving average is $47.25 and its two-hundred day moving average is $57.33.

Insider Transactions at GitLab

In other GitLab news, Director Karen Blasing sold 3,250 shares of the business's stock in a transaction 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 sale, the director now directly owns 111,983 shares of the company's stock, valued at $5,039,235. The trade was a 2.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Matthew Jacobson sold 152,884 shares of the business's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $52.34, for a total transaction of $8,001,948.56. Following the sale, the director now directly owns 493,554 shares in the company, valued at approximately $25,832,616.36. This trade represents a 23.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 304,734 shares of company stock valued at $14,879,081 over the last ninety days. Corporate insiders own 16.37% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Mizuho lowered 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. JPMorgan Chase & Co. lowered their price target on shares of GitLab from $65.00 to $62.00 and set a "neutral" rating for the company in a research report on Tuesday, March 4th. Barclays lowered their price target on shares of GitLab from $70.00 to $58.00 and set an "equal weight" rating for the company in a research report on Tuesday, March 4th. Wells Fargo & Company decreased their target price on shares of GitLab from $85.00 to $65.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Finally, Truist Financial decreased their target price on shares of GitLab from $90.00 to $80.00 and set a "buy" rating for the company in a research report on Monday, March 31st. Three analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $71.73.

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.