SBI Securities Co. Ltd. bought a new stake in GitLab Inc. (NASDAQ:GTLB - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 5,502 shares of the company's stock, valued at approximately $310,000.
A number of other large investors have also modified their holdings of GTLB. True Wealth Design LLC acquired a new position in GitLab during the third quarter worth $56,000. Raleigh Capital Management Inc. acquired a new stake in shares of GitLab in the fourth quarter valued at $66,000. Smartleaf Asset Management LLC increased its stake in shares of GitLab by 1,067.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,261 shares of the company's stock valued at $71,000 after buying an additional 1,153 shares in the last quarter. Rakuten Securities Inc. increased its stake in shares of GitLab by 268.1% in the third quarter. Rakuten Securities Inc. now owns 1,417 shares of the company's stock valued at $73,000 after buying an additional 1,032 shares in the last quarter. Finally, First Horizon Advisors Inc. increased its stake in shares of GitLab by 57.8% in the fourth quarter. First Horizon Advisors Inc. now owns 1,436 shares of the company's stock valued at $81,000 after buying an additional 526 shares in the last quarter. 95.04% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of analysts have recently weighed in on the company. Needham & Company LLC restated a "buy" rating and issued a $85.00 target price on shares of GitLab in a research note on Tuesday, March 4th. Piper Sandler raised their target price on GitLab from $75.00 to $85.00 and gave the company an "overweight" rating in a research note on Friday, December 6th. Canaccord Genuity Group raised their target price on GitLab from $65.00 to $78.00 and gave the company a "buy" rating in a research note on Friday, December 6th. Macquarie restated an "outperform" rating and issued a $90.00 target price on shares of GitLab in a research note on Tuesday, March 4th. Finally, Wells Fargo & Company raised their price target on GitLab from $80.00 to $85.00 and gave the company an "overweight" rating in a report on Thursday, February 20th. Three investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $75.38.
View Our Latest Stock Analysis on GTLB
Insider Activity at GitLab
In other GitLab news, insider Robin Schulman sold 9,251 shares of the business's stock in a transaction that occurred 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 $8,532,510. The trade was a 7.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Brian G. Robins sold 10,000 shares of the business's stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $67.59, for a total value of $675,900.00. Following the transaction, the chief financial officer now directly owns 242,803 shares in the company, valued at $16,411,054.77. This trade represents a 3.96 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 740,257 shares of company stock valued at $44,710,867. 21.36% of the stock is owned by insiders.
GitLab Trading Down 3.2 %
Shares of NASDAQ GTLB traded down $1.87 during mid-day trading on Friday, reaching $56.38. 2,719,391 shares of the company's stock were exchanged, compared to its average volume of 3,040,418. The firm has a market capitalization of $9.15 billion, a price-to-earnings ratio of -176.19 and a beta of 0.67. The business has a fifty day simple moving average of $64.31 and a 200 day simple moving average of $58.99. GitLab Inc. has a twelve month low of $40.72 and a twelve month high of $74.18.
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.
See Also
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
Discover the 10 Best High-Yield Dividend Stocks for 2025 and secure reliable income in uncertain markets. Download the report now to identify top dividend payers and avoid common yield traps.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
