GitLab Inc. (NASDAQ:GTLB) Holdings Raised by Smith Group Asset Management LLC

Smith Group Asset Management LLC increased its stake in GitLab Inc. (NASDAQ:GTLB) by 70.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,020 shares of the company’s stock after purchasing an additional 7,060 shares during the quarter. Smith Group Asset Management LLC’s holdings in GitLab were worth $959,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. KBC Group NV boosted its holdings in shares of GitLab by 60.5% in the fourth quarter. KBC Group NV now owns 4,825 shares of the company’s stock worth $272,000 after buying an additional 1,818 shares during the period. Union Bancaire Privee UBP SA acquired a new position in GitLab in the 4th quarter valued at approximately $3,612,000. Blue Trust Inc. raised its holdings in shares of GitLab by 68.3% during the fourth quarter. Blue Trust Inc. now owns 5,329 shares of the company’s stock worth $275,000 after acquiring an additional 2,163 shares in the last quarter. RFG Advisory LLC purchased a new stake in shares of GitLab during the 4th quarter worth about $221,000. Finally, Veracity Capital LLC acquired a new stake in GitLab in the fourth quarter valued at approximately $464,000. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Insider Activity at GitLab

In related news, Director Matthew Jacobson sold 547,679 shares of the company’s stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $59.72, for a total value of $32,707,389.88. Following the completion of the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Robin Schulman sold 9,251 shares of GitLab stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $65.00, for a total value of $601,315.00. Following the completion of the sale, the insider now directly owns 121,893 shares in the company, valued at approximately $7,923,045. This represents a 7.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 825,698 shares of company stock worth $49,549,749 in the last quarter. Corporate insiders own 21.36% of the company’s stock.

GitLab Stock Up 12.3 %

Shares of GitLab stock opened at $72.75 on Wednesday. GitLab Inc. has a 12 month low of $40.72 and a 12 month high of $78.53. The business has a fifty day simple moving average of $61.76 and a 200 day simple moving average of $55.34.

Analyst Ratings Changes

A number of analysts have weighed in on GTLB shares. Barclays boosted their price target on GitLab from $55.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Monday, December 9th. JPMorgan Chase & Co. raised their price target on shares of GitLab from $60.00 to $65.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. TD Cowen boosted their price objective on GitLab from $63.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Mizuho increased their price target on shares of GitLab from $67.00 to $80.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Finally, KeyCorp lifted their price objective on GitLab from $74.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Three equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $76.42.

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.