GitLab Inc. (NASDAQ:GTLB) Shares Purchased by Captrust Financial Advisors

Captrust Financial Advisors lifted its stake in shares of GitLab Inc. (NASDAQ:GTLB - Free Report) by 233.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 14,200 shares of the company's stock after buying an additional 9,937 shares during the quarter. Captrust Financial Advisors' holdings in GitLab were worth $732,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. ARK Investment Management LLC acquired a new stake in shares of GitLab during the third quarter valued at about $13,435,000. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in GitLab by 111.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 336,317 shares of the company's stock valued at $17,334,000 after purchasing an additional 176,967 shares during the last quarter. Victory Capital Management Inc. grew its stake in GitLab by 56.1% during the 3rd quarter. Victory Capital Management Inc. now owns 352,256 shares of the company's stock valued at $18,155,000 after purchasing an additional 126,578 shares in the last quarter. William Blair Investment Management LLC acquired a new stake in GitLab during the 2nd quarter valued at approximately $16,071,000. Finally, Versor Investments LP purchased a new stake in GitLab during the 3rd quarter worth approximately $1,752,000. 95.04% of the stock is owned by institutional investors and hedge funds.

GitLab Stock Down 1.5 %

GitLab stock traded down $0.90 during mid-day trading on Wednesday, hitting $60.68. 4,163,276 shares of the company's stock traded hands, compared to its average volume of 2,423,532. GitLab Inc. has a one year low of $40.72 and a one year high of $78.53. The company has a market cap of $9.74 billion, a PE ratio of -189.63 and a beta of 0.54. The firm has a 50 day moving average price of $58.67 and a 200 day moving average price of $52.37.

Insider Activity at GitLab

In other news, CEO Sytse Sijbrandij sold 84,776 shares of the business's stock in a transaction on Monday, November 18th. The stock was sold at an average price of $59.64, for a total value of $5,056,040.64. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Erin Mannix sold 1,433 shares of the company's stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $52.80, for a total value of $75,662.40. Following the completion of the sale, the chief accounting officer now owns 72,448 shares of the company's stock, valued at approximately $3,825,254.40. This trade represents a 1.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 178,365 shares of company stock worth $10,350,684 over the last ninety days. 21.36% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently commented on GTLB. Needham & Company LLC increased their target price on GitLab from $70.00 to $85.00 and gave the company a "buy" rating in a research note on Friday, December 6th. DA Davidson increased their price objective on shares of GitLab from $50.00 to $70.00 and gave the company a "neutral" rating in a research note on Friday, December 6th. BTIG Research boosted their target price on shares of GitLab from $58.00 to $63.00 and gave the stock a "buy" rating in a research report on Wednesday, September 4th. The Goldman Sachs Group upped their target price on shares of GitLab from $80.00 to $88.00 and gave the company a "buy" rating in a research note on Friday, December 6th. Finally, Royal Bank of Canada lifted their price target on GitLab from $73.00 to $80.00 and gave the stock an "outperform" rating in a research note on Friday, December 6th. Three analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $75.88.

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.