Fuller & Thaler Asset Management Inc. Has $46.75 Million Stake in GitLab Inc. (NASDAQ:GTLB)

Fuller & Thaler Asset Management Inc. boosted its stake in GitLab Inc. (NASDAQ:GTLB - Free Report) by 10.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 829,621 shares of the company's stock after acquiring an additional 80,851 shares during the period. Fuller & Thaler Asset Management Inc. owned 0.51% of GitLab worth $46,749,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Norges Bank purchased a new position in GitLab in the 4th quarter worth approximately $279,089,000. Artisan Partners Limited Partnership boosted its stake in shares of GitLab by 55.7% in the 4th quarter. Artisan Partners Limited Partnership now owns 4,034,041 shares of the company's stock valued at $227,318,000 after purchasing an additional 1,443,160 shares in the last quarter. Alliancebernstein L.P. boosted its stake in shares of GitLab by 4,042.0% in the 4th quarter. Alliancebernstein L.P. now owns 1,455,385 shares of the company's stock valued at $82,011,000 after purchasing an additional 1,420,248 shares in the last quarter. Marshall Wace LLP raised its holdings in GitLab by 572.3% during the 4th quarter. Marshall Wace LLP now owns 1,094,128 shares of the company's stock valued at $61,654,000 after buying an additional 931,396 shares during the last quarter. Finally, ARK Investment Management LLC raised its holdings in GitLab by 345.2% during the 4th quarter. ARK Investment Management LLC now owns 1,160,502 shares of the company's stock valued at $65,394,000 after buying an additional 899,823 shares during the last quarter. Institutional investors own 95.04% of the company's stock.

Insider Buying and Selling

In related news, insider Sytse Sijbrandij sold 108,600 shares of the stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $42.87, for a total transaction of $4,655,682.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Karen Blasing sold 3,250 shares of the company's stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $45.00, for a total transaction of $146,250.00. Following the transaction, the director now owns 111,983 shares in the company, valued at $5,039,235. The trade was a 2.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 314,734 shares of company stock worth $15,587,381. Corporate insiders own 21.36% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on GTLB. JPMorgan Chase & Co. dropped their target price on shares of GitLab from $65.00 to $62.00 and set a "neutral" rating for the company in a research report on Tuesday, March 4th. Robert W. Baird dropped their price target on GitLab from $80.00 to $76.00 and set an "outperform" rating on the stock in a research report on Monday, March 3rd. 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 report on Monday, March 31st. KeyCorp decreased their target price on shares of GitLab from $80.00 to $60.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. Finally, Morgan Stanley decreased their target price on shares of GitLab from $77.00 to $53.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Three equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $71.73.

GitLab Trading Down 0.4 %

GitLab stock traded down $0.19 during midday trading on Tuesday, hitting $46.77. 451,863 shares of the stock were exchanged, compared to its average volume of 2,531,777. The stock has a market capitalization of $7.59 billion, a price-to-earnings ratio of -146.13 and a beta of 0.79. The stock's 50-day simple moving average is $50.14 and its 200 day simple moving average is $57.85. GitLab Inc. has a fifty-two week low of $37.90 and a fifty-two week high of $74.18.

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.