Alliancebernstein L.P. grew its holdings in GitLab Inc. (NASDAQ:GTLB - Free Report) by 4,042.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,455,385 shares of the company's stock after purchasing an additional 1,420,248 shares during the quarter. Alliancebernstein L.P. owned 0.90% of GitLab worth $82,011,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in the business. M&T Bank Corp raised its position in GitLab by 3.1% in the 4th quarter. M&T Bank Corp now owns 4,965 shares of the company's stock valued at $280,000 after purchasing an additional 148 shares in the last quarter. Wilmington Savings Fund Society FSB raised its holdings in GitLab by 7.9% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 2,050 shares of the company's stock valued at $116,000 after acquiring an additional 150 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in GitLab by 0.3% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 91,445 shares of the company's stock worth $4,713,000 after acquiring an additional 281 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in GitLab by 17.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,263 shares of the company's stock worth $128,000 after acquiring an additional 328 shares during the last quarter. Finally, IFP Advisors Inc grew its holdings in GitLab by 9.3% during the 4th quarter. IFP Advisors Inc now owns 4,949 shares of the company's stock worth $279,000 after acquiring an additional 423 shares in the last quarter. Institutional investors and hedge funds own 95.04% of the company's stock.
Insider Buying and Selling
In other GitLab news, CFO Brian G. Robins sold 10,000 shares of the firm's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $70.83, for a total transaction of $708,300.00. Following the completion of the transaction, the chief financial officer now directly owns 267,380 shares of the company's stock, valued at $18,938,525.40. This trade represents a 3.61 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Sytse Sijbrandij sold 84,000 shares of the company's stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $62.99, for a total transaction of $5,291,160.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 311,886 shares of company stock worth $17,736,229. Insiders own 21.36% of the company's stock.
GitLab Trading Up 2.2 %
GTLB stock traded up $0.94 during midday trading on Tuesday, hitting $43.74. 624,003 shares of the company's stock were exchanged, compared to its average volume of 2,810,793. The firm has a 50 day moving average price of $59.38 and a 200-day moving average price of $58.88. GitLab Inc. has a 12-month low of $37.90 and a 12-month high of $74.18. The stock has a market capitalization of $7.10 billion, a price-to-earnings ratio of -136.64 and a beta of 0.79.
Analyst Ratings Changes
GTLB has been the subject of several recent analyst reports. Truist Financial decreased their price objective 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. Barclays decreased their price target on GitLab from $70.00 to $58.00 and set an "equal weight" rating for the company in a report on Tuesday, March 4th. Royal Bank of Canada reiterated an "outperform" rating and issued a $80.00 price objective on shares of GitLab in a report on Tuesday, March 4th. Needham & Company LLC restated a "buy" rating and set a $85.00 target price on shares of GitLab in a research note on Tuesday, March 4th. Finally, DA Davidson reduced their price objective on shares of GitLab from $70.00 to $60.00 and set a "neutral" rating for the company in a research report on Friday, February 28th. Three equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $75.09.
View Our Latest Stock Analysis on GitLab
GitLab Profile
(
Free Report)
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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