Hel Ved Capital Management Ltd Grows Stock Holdings in GitLab Inc. (NASDAQ:GTLB)

Hel Ved Capital Management Ltd grew its stake in shares of GitLab Inc. (NASDAQ:GTLB - Free Report) by 293.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 62,980 shares of the company's stock after acquiring an additional 46,990 shares during the period. Hel Ved Capital Management Ltd's holdings in GitLab were worth $3,549,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC raised its stake in GitLab by 5,700.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 522 shares of the company's stock valued at $29,000 after purchasing an additional 513 shares in the last quarter. IMG Wealth Management Inc. purchased a new position in GitLab in the fourth quarter worth $46,000. Raleigh Capital Management Inc. bought a new position in GitLab in the fourth quarter valued at $66,000. Smartleaf Asset Management LLC raised its position in GitLab by 1,067.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,261 shares of the company's stock valued at $71,000 after purchasing an additional 1,153 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC lifted its stake in GitLab by 4,273.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,312 shares of the company's stock worth $74,000 after purchasing an additional 1,282 shares during the last quarter. Institutional investors own 95.04% of the company's stock.

GitLab Price Performance

GTLB stock traded down $3.16 on Thursday, reaching $43.14. 1,876,382 shares of the company traded hands, compared to its average volume of 2,478,390. The firm has a fifty day simple moving average of $57.15 and a 200-day simple moving average of $58.53. GitLab Inc. has a one year low of $37.90 and a one year high of $74.18. The company has a market cap of $7.00 billion, a P/E ratio of -134.76 and a beta of 0.79.

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Insider Transactions at GitLab

In related news, CFO Brian G. Robins sold 10,000 shares of the company's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $70.83, for a total value of $708,300.00. Following the transaction, the chief financial officer now directly owns 267,380 shares of the company's stock, valued at approximately $18,938,525.40. This represents a 3.61 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Matthew Jacobson sold 152,884 shares of the stock in a transaction on Monday, March 24th. The shares were sold at an average price of $52.34, for a total value of $8,001,948.56. Following the sale, the director now owns 493,554 shares in the company, valued at approximately $25,832,616.36. This represents a 23.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 311,886 shares of company stock valued at $17,736,229 in the last quarter. 21.36% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts recently weighed in on GTLB shares. Needham & Company LLC reissued a "buy" rating and set a $85.00 price objective on shares of GitLab in a report on Tuesday, March 4th. Macquarie reissued an "outperform" rating and set a $90.00 price target on shares of GitLab in a research note on Tuesday, March 4th. DA Davidson reduced their target price on shares of GitLab from $70.00 to $60.00 and set a "neutral" rating on the stock in a report on Friday, February 28th. Wells Fargo & Company upped their price target on shares of GitLab from $80.00 to $85.00 and gave the company an "overweight" rating in a research report on Thursday, February 20th. Finally, Barclays decreased their price objective on GitLab from $70.00 to $58.00 and set an "equal weight" rating on the stock in a report on Tuesday, March 4th. Three equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $75.09.

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.