Teacher Retirement System of Texas Purchases Shares of 28,574 GitLab Inc. (NASDAQ:GTLB)

Teacher Retirement System of Texas purchased a new stake in GitLab Inc. (NASDAQ:GTLB - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 28,574 shares of the company's stock, valued at approximately $1,610,000.

Several other large investors have also bought and sold shares of GTLB. EverSource Wealth Advisors LLC increased 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. bought a new stake in shares of GitLab in the 4th quarter valued at $46,000. True Wealth Design LLC acquired a new stake in GitLab during the 3rd quarter worth $56,000. Raleigh Capital Management Inc. bought a new position in GitLab during the fourth quarter worth about $66,000. Finally, Smartleaf Asset Management LLC lifted its holdings in GitLab by 1,067.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,261 shares of the company's stock worth $71,000 after acquiring an additional 1,153 shares in the last quarter. 95.04% of the stock is currently owned by institutional investors and hedge funds.

GitLab Stock Down 3.6 %

Shares of NASDAQ GTLB traded down $1.80 during trading on Friday, reaching $48.38. The company had a trading volume of 1,851,502 shares, compared to its average volume of 2,426,612. The stock has a market cap of $7.85 billion, a P/E ratio of -151.19 and a beta of 0.67. The company's fifty day moving average price is $61.70 and its 200-day moving average price is $59.18. GitLab Inc. has a 12 month low of $40.72 and a 12 month high of $74.18.

Remove Ads

Insider Transactions at GitLab

In related news, CFO Brian G. Robins sold 10,000 shares of the company's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $56.24, for a total transaction of $562,400.00. Following the completion of the sale, the chief financial officer now owns 267,380 shares in the company, valued at approximately $15,037,451.20. This represents a 3.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Karen Blasing sold 6,500 shares of the stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $63.19, for a total value of $410,735.00. Following the completion of the sale, the director now directly owns 128,233 shares of the company's stock, valued at $8,103,043.27. The trade was a 4.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 349,216 shares of company stock valued at $19,841,492 in the last quarter. 21.36% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. JPMorgan Chase & Co. cut their price target on shares of GitLab from $65.00 to $62.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 4th. The Goldman Sachs Group raised their price target on GitLab from $80.00 to $88.00 and gave the company a "buy" rating in a research note on Friday, December 6th. DA Davidson dropped their price objective on GitLab from $70.00 to $60.00 and set a "neutral" rating on the stock in a research note on Friday, February 28th. Truist Financial reissued a "buy" rating and issued a $90.00 target price (up from $80.00) on shares of GitLab in a research note on Friday, December 6th. Finally, Robert W. Baird dropped their price target 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. Three investment 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $75.52.

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.