American Century Companies Inc. Has $2.18 Million Stock Holdings in GitLab Inc. (NASDAQ:GTLB)

American Century Companies Inc. grew its holdings in shares of GitLab Inc. (NASDAQ:GTLB - Free Report) by 314.9% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 38,734 shares of the company's stock after acquiring an additional 29,399 shares during the quarter. American Century Companies Inc.'s holdings in GitLab were worth $2,183,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. ARK Investment Management LLC raised its position in shares of GitLab by 345.2% during the 4th quarter. ARK Investment Management LLC now owns 1,160,502 shares of the company's stock worth $65,394,000 after buying an additional 899,823 shares in the last quarter. Amundi increased its stake in shares of GitLab by 613.0% during the fourth quarter. Amundi now owns 616,806 shares of the company's stock valued at $38,020,000 after acquiring an additional 530,297 shares during the period. Los Angeles Capital Management LLC raised its holdings in GitLab by 67.7% during the fourth quarter. Los Angeles Capital Management LLC now owns 1,003,010 shares of the company's stock worth $56,520,000 after purchasing an additional 404,895 shares in the last quarter. Trivest Advisors Ltd acquired a new stake in GitLab in the fourth quarter worth approximately $17,018,000. Finally, Keybank National Association OH boosted its stake in GitLab by 61.4% during the 4th quarter. Keybank National Association OH now owns 703,304 shares of the company's stock valued at $39,631,000 after purchasing an additional 267,678 shares in the last quarter. Institutional investors 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 business's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $70.83, for a total value of $708,300.00. Following the completion of the sale, the chief financial officer now directly owns 267,380 shares of the company's stock, valued at $18,938,525.40. The trade was a 3.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Karen Blasing sold 6,500 shares of the firm's stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $63.19, for a total transaction of $410,735.00. Following the transaction, the director now owns 128,233 shares in the company, valued at $8,103,043.27. This represents a 4.82 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 311,886 shares of company stock worth $17,736,229. Corporate insiders own 21.36% of the company's stock.

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Analyst Upgrades and Downgrades

A number of analysts have recently commented on GTLB shares. Mizuho dropped their price objective on GitLab from $80.00 to $72.00 and set an "outperform" rating on the stock in a research note on Tuesday, March 4th. Macquarie restated an "outperform" rating and set a $90.00 price objective on shares of GitLab in a research report on Tuesday, March 4th. Truist Financial lowered their price objective on shares of GitLab from $90.00 to $80.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. Robert W. Baird reduced their target price on shares of GitLab from $80.00 to $76.00 and set an "outperform" rating for the company in a report on Monday, March 3rd. Finally, JPMorgan Chase & Co. decreased their price target on shares of GitLab from $65.00 to $62.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 4th. Three investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, GitLab has a consensus rating of "Moderate Buy" and a consensus target price of $75.32.

GitLab Trading Down 2.5 %

GTLB stock traded down $1.06 during midday trading on Friday, reaching $41.92. The company had a trading volume of 5,089,820 shares, compared to its average volume of 2,507,235. The company has a 50 day moving average of $56.00 and a two-hundred day moving average of $58.45. GitLab Inc. has a 1 year low of $37.90 and a 1 year high of $74.18. The company has a market capitalization of $6.80 billion, a P/E ratio of -131.00 and a beta of 0.79.

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.