Fiera Capital Corp Sells 29,176 Shares of GitLab Inc. (NASDAQ:GTLB)

Fiera Capital Corp decreased its position in GitLab Inc. (NASDAQ:GTLB - Free Report) by 2.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,230,253 shares of the company's stock after selling 29,176 shares during the quarter. Fiera Capital Corp owned about 0.76% of GitLab worth $69,325,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Los Angeles Capital Management LLC purchased a new stake in GitLab in the 3rd quarter worth about $30,827,000. Atreides Management LP bought a new stake in GitLab during the 3rd quarter valued at approximately $25,605,000. Thrivent Financial for Lutherans boosted its stake in GitLab by 128.8% during the 3rd quarter. Thrivent Financial for Lutherans now owns 554,455 shares of the company's stock valued at $28,577,000 after purchasing an additional 312,119 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its stake in GitLab by 6,821.7% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 297,632 shares of the company's stock valued at $15,340,000 after purchasing an additional 293,332 shares during the period. Finally, ARK Investment Management LLC bought a new stake in shares of GitLab in the 3rd quarter worth approximately $13,435,000. Institutional investors and hedge funds own 95.04% of the company's stock.

Analysts Set New Price Targets

A number of analysts have commented on GTLB shares. TD Cowen raised their price objective on GitLab from $63.00 to $70.00 and gave the stock a "buy" rating in a research report on Thursday, November 21st. The Goldman Sachs Group lifted their price objective on GitLab from $80.00 to $88.00 and gave the company a "buy" rating in a research report on Friday, December 6th. Wells Fargo & Company lifted their price objective on GitLab from $75.00 to $80.00 and gave the company an "overweight" rating in a research report on Friday, December 6th. Macquarie restated an "outperform" rating and set a $90.00 target price on shares of GitLab in a research report on Wednesday, January 15th. Finally, Barclays boosted their target price on GitLab from $55.00 to $70.00 and gave the stock an "equal weight" rating in a research report on Monday, December 9th. Three analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $76.42.

GitLab Stock Down 3.9 %

Shares of GTLB stock traded down $2.73 on Friday, hitting $67.83. 3,041,041 shares of the stock were exchanged, compared to its average volume of 2,988,038. The business has a 50-day moving average of $63.47 and a 200 day moving average of $57.11. GitLab Inc. has a fifty-two week low of $40.72 and a fifty-two week high of $76.58.

Insider Transactions at GitLab

In other GitLab news, Director Karen Blasing sold 3,250 shares of the company's stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $58.99, for a total value of $191,717.50. Following the sale, the director now owns 134,733 shares in the company, valued at $7,947,899.67. This represents a 2.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Robin Schulman sold 2,996 shares of the stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $55.98, for a total value of $167,716.08. Following the transaction, the insider now owns 129,223 shares in the company, valued at approximately $7,233,903.54. This trade represents a 2.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 825,033 shares of company stock valued at $49,766,908 over the last three months. Company insiders own 21.36% of the company's stock.

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.