Stevens Capital Management LP Takes $274,000 Position in GitLab Inc. (NASDAQ:GTLB)

Stevens Capital Management LP purchased a new position in shares of GitLab Inc. (NASDAQ:GTLB) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,854 shares of the company’s stock, valued at approximately $274,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. LPL Financial LLC grew its position in GitLab by 67.8% in the 4th quarter. LPL Financial LLC now owns 36,549 shares of the company’s stock worth $2,060,000 after purchasing an additional 14,765 shares in the last quarter. Fox Run Management L.L.C. boosted its stake in shares of GitLab by 6.3% in the 4th quarter. Fox Run Management L.L.C. now owns 19,688 shares of the company’s stock worth $1,109,000 after buying an additional 1,173 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of GitLab in the fourth quarter valued at approximately $1,381,000. Sei Investments Co. increased its position in shares of GitLab by 69.0% during the fourth quarter. Sei Investments Co. now owns 414,518 shares of the company’s stock valued at $23,358,000 after acquiring an additional 169,240 shares during the last quarter. Finally, American Century Companies Inc. lifted its holdings in GitLab by 314.9% during the fourth quarter. American Century Companies Inc. now owns 38,734 shares of the company’s stock worth $2,183,000 after acquiring an additional 29,399 shares during the period. 95.04% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at GitLab

In related news, insider Robin Schulman sold 7,330 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $56.98, for a total transaction of $417,663.40. Following the transaction, the insider now directly owns 121,893 shares of the company’s stock, valued at approximately $6,945,463.14. This trade represents a 5.67 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Matthew Jacobson sold 547,679 shares of the company’s stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $59.72, for a total value of $32,707,389.88. Following the completion of the sale, the director now directly owns 58,471 shares of the company’s stock, valued at approximately $3,491,888.12. This represents a 90.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 744,011 shares of company stock valued at $44,546,933 over the last three months. 21.36% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on GTLB shares. DA Davidson decreased their target price on GitLab from $70.00 to $60.00 and set a “neutral” rating for the company in a research report on Friday, February 28th. Cantor Fitzgerald restated an “overweight” rating and set a $80.00 price objective on shares of GitLab in a report on Tuesday, March 4th. The Goldman Sachs Group lifted their price objective 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. Barclays reduced their target price on shares of GitLab from $70.00 to $58.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 4th. Finally, Canaccord Genuity Group lifted their price target on shares of GitLab from $65.00 to $78.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Three equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, GitLab currently has an average rating of “Moderate Buy” and a consensus target price of $75.52.

GitLab Stock Up 2.3 %

NASDAQ:GTLB opened at $52.12 on Tuesday. The stock has a market cap of $8.46 billion, a P/E ratio of -162.88 and a beta of 0.67. The business’s 50-day moving average price is $62.66 and its two-hundred day moving average price is $59.31. GitLab Inc. has a twelve month low of $40.72 and a twelve month high of $74.18.

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.