Atria Investments Inc Invests $361,000 in GitLab Inc. (NASDAQ:GTLB)

Atria Investments Inc bought a new position in shares of GitLab Inc. (NASDAQ:GTLB - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 6,414 shares of the company's stock, valued at approximately $361,000.

Several other institutional investors and hedge funds also recently made changes to their positions in GTLB. True Wealth Design LLC bought a new position in shares of GitLab in the 3rd quarter worth $56,000. Raleigh Capital Management Inc. bought a new position in GitLab during the fourth quarter worth about $66,000. Smartleaf Asset Management LLC boosted its holdings in GitLab by 1,067.6% during the fourth 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. Steward Partners Investment Advisory LLC grew its position in shares of GitLab by 4,273.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,312 shares of the company's stock worth $74,000 after buying an additional 1,282 shares during the period. Finally, First Horizon Advisors Inc. increased its stake in shares of GitLab by 57.8% in the 4th quarter. First Horizon Advisors Inc. now owns 1,436 shares of the company's stock valued at $81,000 after acquiring an additional 526 shares during the last quarter. Institutional investors own 95.04% of the company's stock.

Insiders Place Their Bets

In other GitLab news, insider Robin Schulman sold 2,996 shares of the business's stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $55.98, for a total transaction of $167,716.08. Following the transaction, the insider now owns 129,223 shares of the company's stock, valued at $7,233,903.54. The trade was a 2.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Sytse Sijbrandij sold 84,000 shares of the firm's stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $62.99, for a total value of $5,291,160.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 727,007 shares of company stock valued at $43,843,249. 21.36% of the stock is currently owned by corporate insiders.

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GitLab Stock Down 1.1 %

Shares of NASDAQ GTLB traded down $0.55 during trading hours on Thursday, hitting $51.05. The company had a trading volume of 1,276,103 shares, compared to its average volume of 2,417,223. GitLab Inc. has a 1-year low of $40.72 and a 1-year high of $74.18. The firm's 50 day moving average is $63.16 and its 200-day moving average is $59.24. The stock has a market capitalization of $8.28 billion, a P/E ratio of -160.64 and a beta of 0.67.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on GTLB. Morgan Stanley lifted their price objective on shares of GitLab from $70.00 to $77.00 and gave the stock an "overweight" rating in a research note on Friday, December 6th. KeyCorp boosted their price target on shares of GitLab from $74.00 to $80.00 and gave the company an "overweight" rating in a report on Friday, December 6th. Barclays lowered their price objective 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. TD Cowen boosted their target price on GitLab from $63.00 to $70.00 and gave the company a "buy" rating in a research note on Thursday, November 21st. Finally, Wells Fargo & Company raised their price target on GitLab from $80.00 to $85.00 and gave the stock an "overweight" rating in a research report on Thursday, February 20th. Three research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $75.38.

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.