60,195 Shares in GitLab Inc. (NASDAQ:GTLB) Acquired by Raymond James Financial Inc.

Raymond James Financial Inc. acquired a new stake in shares of GitLab Inc. (NASDAQ:GTLB - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 60,195 shares of the company's stock, valued at approximately $3,392,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. EverSource Wealth Advisors LLC increased its holdings 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 acquiring an additional 513 shares during the last quarter. IMG Wealth Management Inc. bought a new stake in shares of GitLab in the fourth quarter worth about $46,000. Raleigh Capital Management Inc. purchased a new stake in shares of GitLab in the fourth quarter worth about $66,000. Smartleaf Asset Management LLC boosted its stake in GitLab by 1,067.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,261 shares of the company's stock valued at $71,000 after buying an additional 1,153 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC grew its holdings in GitLab by 4,273.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,312 shares of the company's stock valued at $74,000 after buying an additional 1,282 shares in the last quarter. Institutional investors own 95.04% of the company's stock.

Insider Transactions at GitLab

In other news, Director Karen Blasing sold 3,250 shares of the business's stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $45.00, for a total value of $146,250.00. Following the completion of the transaction, the director now directly owns 111,983 shares of the company's stock, valued at approximately $5,039,235. The trade was a 2.82 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Brian G. Robins sold 10,000 shares of the firm's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $70.83, for a total value of $708,300.00. Following the sale, the chief financial officer now directly owns 267,380 shares in the company, valued at approximately $18,938,525.40. The trade was a 3.61 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 323,985 shares of company stock valued at $16,234,951. Company insiders own 21.36% of the company's stock.

Analysts Set New Price Targets

GTLB has been the subject of a number of research reports. JPMorgan Chase & Co. lowered their target price on GitLab from $65.00 to $62.00 and set a "neutral" rating for the company in a research report on Tuesday, March 4th. Royal Bank of Canada reissued an "outperform" rating and issued a $80.00 price objective on shares of GitLab in a research note on Tuesday, March 4th. Robert W. Baird decreased their target price on shares of GitLab from $80.00 to $76.00 and set an "outperform" rating on the stock in a research report on Monday, March 3rd. Barclays dropped their price target on GitLab from $70.00 to $58.00 and set an "equal weight" rating for the company in a research report on Tuesday, March 4th. Finally, KeyCorp decreased their price objective on GitLab from $80.00 to $60.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Three analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $71.73.

GitLab Price Performance

NASDAQ:GTLB opened at $47.16 on Monday. The firm has a market cap of $7.65 billion, a PE ratio of -147.38 and a beta of 0.79. The company has a 50-day moving average of $50.60 and a 200 day moving average of $57.90. GitLab Inc. has a 1-year low of $37.90 and a 1-year high of $74.18.

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.

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