SYM FINANCIAL Corp Acquires Shares of 3,562 GitLab Inc. (NASDAQ:GTLB)

SYM FINANCIAL Corp purchased a new position in GitLab Inc. (NASDAQ:GTLB - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 3,562 shares of the company's stock, valued at approximately $201,000.

Several other large investors also recently bought and sold shares of GTLB. Los Angeles Capital Management LLC purchased a new stake in shares of GitLab during the 3rd quarter valued at $30,827,000. Atreides Management LP acquired a new stake in GitLab in the third quarter valued at $25,605,000. Thrivent Financial for Lutherans raised its stake in GitLab by 128.8% during the third quarter. Thrivent Financial for Lutherans now owns 554,455 shares of the company's stock valued at $28,577,000 after buying an additional 312,119 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in GitLab by 6,821.7% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 297,632 shares of the company's stock worth $15,340,000 after acquiring an additional 293,332 shares during the period. Finally, ARK Investment Management LLC bought a new stake in GitLab in the third quarter valued at $13,435,000. Institutional investors and hedge funds own 95.04% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on GTLB shares. Canaccord Genuity Group raised their price target on GitLab from $65.00 to $78.00 and gave the company a "buy" rating in a report on Friday, December 6th. Macquarie reissued an "outperform" rating and set a $90.00 price objective on shares of GitLab in a research note on Wednesday, January 15th. KeyCorp boosted their price target on shares of GitLab from $74.00 to $80.00 and gave the company an "overweight" rating in a report on Friday, December 6th. Truist Financial reissued a "buy" rating and issued a $90.00 price objective (up from $80.00) on shares of GitLab in a research note on Friday, December 6th. Finally, Cantor Fitzgerald boosted their price target on shares of GitLab from $75.00 to $80.00 and gave the company an "overweight" rating in a report on Friday, December 6th. Three investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, GitLab has an average rating of "Moderate Buy" and an average price target of $76.42.

GitLab Stock Down 2.3 %

Shares of NASDAQ:GTLB traded down $1.69 during trading on Thursday, reaching $71.45. 2,504,157 shares of the company traded hands, compared to its average volume of 2,965,198. GitLab Inc. has a 52 week low of $40.72 and a 52 week high of $78.53. The company's 50 day moving average is $62.75 and its two-hundred day moving average is $56.27. The firm has a market capitalization of $11.60 billion, a PE ratio of -223.28 and a beta of 0.63.

Insider Buying and Selling at GitLab

In other GitLab news, CFO Brian G. Robins sold 10,000 shares of the firm's stock in a transaction 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 sale, the chief financial officer now owns 267,380 shares of the company's stock, valued at approximately $18,938,525.40. This trade represents a 3.61 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Robin Schulman sold 2,996 shares of the business's stock in a transaction 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 directly owns 129,223 shares of the company's stock, valued at $7,233,903.54. This trade represents a 2.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 828,283 shares of company stock valued at $49,959,990 in the last ninety days. 21.36% of the stock is currently owned by company insiders.

GitLab 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.