Greenhouse Funds LLLP trimmed its stake in shares of GitLab Inc. (NASDAQ:GTLB - Free Report) by 25.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 718,849 shares of the company's stock after selling 248,436 shares during the quarter. GitLab comprises 1.7% of Greenhouse Funds LLLP's investment portfolio, making the stock its 27th biggest holding. Greenhouse Funds LLLP owned 0.44% of GitLab worth $40,507,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Barclays PLC increased its stake in shares of GitLab by 189.1% during the third quarter. Barclays PLC now owns 61,419 shares of the company's stock worth $3,164,000 after acquiring an additional 40,171 shares during the period. Sanctuary Advisors LLC increased its position in GitLab by 205.9% during the 3rd quarter. Sanctuary Advisors LLC now owns 12,245 shares of the company's stock worth $631,000 after purchasing an additional 8,242 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in GitLab during the 3rd quarter worth approximately $98,000. Franklin Resources Inc. raised its stake in shares of GitLab by 0.8% during the 3rd quarter. Franklin Resources Inc. now owns 2,670,072 shares of the company's stock worth $146,774,000 after buying an additional 21,976 shares in the last quarter. Finally, Oddo BHF Asset Management Sas acquired a new stake in shares of GitLab in the 3rd quarter valued at approximately $6,865,000. 95.04% of the stock is currently owned by hedge funds and other institutional investors.
GitLab Trading Up 3.3 %
Shares of NASDAQ GTLB traded up $1.49 during midday trading on Friday, reaching $47.16. 1,566,358 shares of the stock were exchanged, compared to its average volume of 2,538,370. The stock has a 50 day moving average price of $51.09 and a 200-day moving average price of $57.87. The company has a market capitalization of $7.65 billion, a P/E ratio of -147.38 and a beta of 0.79. GitLab Inc. has a 52-week low of $37.90 and a 52-week high of $74.18.
Wall Street Analysts Forecast Growth
A number of research analysts recently weighed in on GTLB shares. Wells Fargo & Company dropped their price objective on GitLab from $85.00 to $65.00 and set an "overweight" rating on the stock in a report on Tuesday. Barclays lowered their price target on shares of GitLab from $70.00 to $58.00 and set an "equal weight" rating on the stock in a research note on Tuesday, March 4th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $80.00 price objective on shares of GitLab in a research note on Tuesday, March 4th. Robert W. Baird lowered their target price on shares of GitLab from $80.00 to $76.00 and set an "outperform" rating on the stock in a research report on Monday, March 3rd. Finally, 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 report on Tuesday, March 4th. Three analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, GitLab has a consensus rating of "Moderate Buy" and an average price target of $71.73.
View Our Latest Research Report on GTLB
Insider Transactions at GitLab
In other GitLab news, CFO Brian G. Robins sold 10,000 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now owns 267,380 shares of the company's stock, valued at $18,938,525.40. This trade represents a 3.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Matthew Jacobson sold 152,884 shares of GitLab stock in a transaction on Monday, March 24th. The shares were sold at an average price of $52.34, for a total transaction of $8,001,948.56. Following the completion of the transaction, the director now owns 493,554 shares in the company, valued at approximately $25,832,616.36. This trade represents a 23.65 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 323,985 shares of company stock worth $16,234,951 over the last quarter. 21.36% of the stock is currently owned by insiders.
About GitLab
(
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.
Featured Articles
Before you consider GitLab, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and GitLab wasn't on the list.
While GitLab currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
