MML Investors Services LLC lifted its stake in GitLab Inc. (NASDAQ:GTLB - Free Report) by 72.8% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 56,499 shares of the company's stock after buying an additional 23,799 shares during the quarter. MML Investors Services LLC's holdings in GitLab were worth $3,184,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Barclays PLC increased its holdings in GitLab by 189.1% in the 3rd quarter. Barclays PLC now owns 61,419 shares of the company's stock valued at $3,164,000 after acquiring an additional 40,171 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of GitLab in the third quarter worth about $98,000. Franklin Resources Inc. increased its holdings in shares of GitLab by 0.8% in the third quarter. Franklin Resources Inc. now owns 2,670,072 shares of the company's stock worth $146,774,000 after purchasing an additional 21,976 shares during the last quarter. Oddo BHF Asset Management Sas purchased a new stake in shares of GitLab in the third quarter worth about $6,865,000. Finally, Everence Capital Management Inc. bought a new position in GitLab during the fourth quarter valued at approximately $221,000. Hedge funds and other institutional investors own 95.04% of the company's stock.
GitLab Stock Performance
Shares of NASDAQ:GTLB opened at $47.16 on Friday. The firm's 50 day simple moving average is $50.60 and its 200-day simple moving average is $57.88. GitLab Inc. has a one year low of $37.90 and a one year high of $74.18. The firm has a market cap of $7.65 billion, a PE ratio of -147.38 and a beta of 0.79.
Insiders Place Their Bets
In other news, insider Robin Schulman sold 9,251 shares of the stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $70.00, for a total transaction of $647,570.00. Following the transaction, the insider now owns 121,893 shares of the company's stock, valued at approximately $8,532,510. This represents a 7.05 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Sytse Sijbrandij sold 108,600 shares of the firm's stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $42.87, for a total value of $4,655,682.00. The disclosure for this sale can be found here. Insiders have sold 323,985 shares of company stock worth $16,234,951 in the last ninety days. 21.36% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
Several analysts have recently issued reports on the company. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $80.00 price objective on shares of GitLab in a report on Tuesday, March 4th. Macquarie reaffirmed an "outperform" rating and set a $90.00 price target on shares of GitLab in a research note on Tuesday, March 4th. Royal Bank of Canada reiterated an "outperform" rating and set a $80.00 price objective on shares of GitLab in a research report on Tuesday, March 4th. Mizuho reduced their target price on shares of GitLab from $80.00 to $72.00 and set an "outperform" rating on the stock in a report on Tuesday, March 4th. Finally, Truist Financial lowered their price target 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. Three research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, GitLab currently has a consensus rating of "Moderate Buy" and a consensus price target of $71.73.
Check Out Our Latest Stock Report on GTLB
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.
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