GitLab Inc. (NASDAQ:GTLB) Shares Sold by Voya Investment Management LLC

Voya Investment Management LLC lessened its holdings in GitLab Inc. (NASDAQ:GTLB - Free Report) by 4.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 948,022 shares of the company's stock after selling 45,950 shares during the period. Voya Investment Management LLC owned about 0.58% of GitLab worth $53,421,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. EverSource Wealth Advisors LLC boosted its holdings in shares of GitLab by 5,700.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 522 shares of the company's stock worth $29,000 after purchasing an additional 513 shares during the last quarter. IMG Wealth Management Inc. acquired a new position in GitLab during the fourth quarter worth $46,000. Raleigh Capital Management Inc. acquired a new stake in shares of GitLab in the 4th quarter worth $66,000. Smartleaf Asset Management LLC raised its holdings in shares of GitLab by 1,067.6% during the 4th 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 during the period. Finally, Steward Partners Investment Advisory LLC boosted its position in shares of GitLab by 4,273.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,312 shares of the company's stock valued at $74,000 after acquiring an additional 1,282 shares during the last quarter. Institutional investors and hedge funds own 95.04% of the company's stock.

Insider Transactions at GitLab

In related news, Director Matthew Jacobson sold 152,884 shares of the company's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $52.34, for a total value of $8,001,948.56. Following the completion of the transaction, the director now directly owns 493,554 shares of the company's stock, valued at $25,832,616.36. This represents a 23.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Brian G. Robins sold 10,000 shares of the firm'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 transaction of $708,300.00. Following the sale, the chief financial officer now directly owns 267,380 shares in the company, valued at approximately $18,938,525.40. The trade was a 3.61 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 314,734 shares of company stock valued at $15,587,381. Insiders own 21.36% of the company's stock.

GitLab Stock Up 0.4 %

NASDAQ GTLB traded up $0.19 on Tuesday, hitting $47.15. 1,655,066 shares of the stock were exchanged, compared to its average volume of 2,542,161. GitLab Inc. has a fifty-two week low of $37.90 and a fifty-two week high of $74.18. The company has a 50-day moving average price of $50.14 and a 200-day moving average price of $57.85. The company has a market cap of $7.65 billion, a PE ratio of -147.34 and a beta of 0.79.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. DA Davidson reduced their target price on shares of GitLab from $60.00 to $45.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Royal Bank of Canada reiterated an "outperform" rating and issued a $80.00 price objective on shares of GitLab in a research report on Tuesday, March 4th. Mizuho cut their target price on GitLab from $80.00 to $72.00 and set an "outperform" rating for the company in a research note on Tuesday, March 4th. JPMorgan Chase & Co. lowered their price target on GitLab from $65.00 to $62.00 and set a "neutral" rating for the company in a report on Tuesday, March 4th. Finally, Robert W. Baird reduced their price objective on shares of GitLab from $80.00 to $76.00 and set an "outperform" rating on the stock in a report on Monday, March 3rd. Three investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, GitLab currently has an average rating of "Moderate Buy" and an average target price of $71.73.

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.