Clare Market Investments LLC Invests $218,000 in GitLab Inc. (NASDAQ:GTLB)

Clare Market Investments LLC purchased a new stake in GitLab Inc. (NASDAQ:GTLB) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,871 shares of the company’s stock, valued at approximately $218,000.

A number of other large investors have also recently added to or reduced their stakes in the stock. True Wealth Design LLC bought a new stake in shares of GitLab in the 3rd quarter worth about $56,000. Raleigh Capital Management Inc. acquired a new position in GitLab in the fourth quarter worth about $66,000. Smartleaf Asset Management LLC increased its holdings in 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 during the last quarter. Rakuten Securities Inc. raised its stake in GitLab by 268.1% during 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, Steward Partners Investment Advisory LLC lifted its holdings in GitLab by 4,273.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,312 shares of the company’s stock worth $74,000 after buying an additional 1,282 shares during the last quarter. 95.04% of the stock is currently owned by institutional investors.

Insider Buying and Selling at GitLab

In other news, Director Karen Blasing sold 3,250 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $58.99, for a total value of $191,717.50. Following the completion of the sale, the director now owns 134,733 shares in the company, valued at $7,947,899.67. This represents a 2.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Brian G. Robins sold 10,000 shares of GitLab stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $70.83, for a total value of $708,300.00. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 730,257 shares of company stock valued at $44,034,967. 21.36% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on GTLB shares. TD Cowen boosted their price target on GitLab from $63.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, November 21st. DA Davidson lowered their target price on shares of GitLab from $70.00 to $60.00 and set a “neutral” rating for the company in a research note on Friday, February 28th. The Goldman Sachs Group raised their price target on shares of GitLab from $80.00 to $88.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. JPMorgan Chase & Co. decreased their price target on shares of GitLab from $65.00 to $62.00 and set a “neutral” rating for the company in a report on Tuesday, March 4th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $80.00 price objective on shares of GitLab in a research note on Tuesday, March 4th. Three analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, GitLab presently has a consensus rating of “Moderate Buy” and a consensus price target of $75.38.

GitLab Price Performance

GitLab stock opened at $50.99 on Tuesday. GitLab Inc. has a 12-month low of $40.72 and a 12-month high of $74.18. The stock has a market capitalization of $8.28 billion, a PE ratio of -159.34 and a beta of 0.67. The firm has a 50 day simple moving average of $64.20 and a 200-day simple moving average of $59.11.

GitLab Company 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.