Captrust Financial Advisors Acquires 9,937 Shares of GitLab Inc. (NASDAQ:GTLB)

Captrust Financial Advisors raised its position in GitLab Inc. (NASDAQ:GTLB) by 233.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,200 shares of the company’s stock after purchasing an additional 9,937 shares during the quarter. Captrust Financial Advisors’ holdings in GitLab were worth $732,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fiera Capital Corp raised its position in GitLab by 1.4% in the 3rd quarter. Fiera Capital Corp now owns 1,259,429 shares of the company’s stock worth $64,911,000 after purchasing an additional 16,961 shares during the period. Renaissance Technologies LLC raised its position in GitLab by 168.8% in the 2nd quarter. Renaissance Technologies LLC now owns 1,190,582 shares of the company’s stock worth $59,196,000 after purchasing an additional 747,712 shares during the period. Primecap Management Co. CA increased its position in shares of GitLab by 269.5% during the second quarter. Primecap Management Co. CA now owns 827,040 shares of the company’s stock worth $41,120,000 after acquiring an additional 603,200 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of GitLab by 8.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 751,415 shares of the company’s stock valued at $38,728,000 after acquiring an additional 57,381 shares in the last quarter. Finally, Stephens Investment Management Group LLC boosted its holdings in shares of GitLab by 11.2% in the third quarter. Stephens Investment Management Group LLC now owns 724,265 shares of the company’s stock valued at $37,329,000 after purchasing an additional 72,925 shares during the period. 95.04% of the stock is owned by hedge funds and other institutional investors.

GitLab Stock Performance

Shares of NASDAQ GTLB opened at $61.58 on Wednesday. The company has a market cap of $9.88 billion, a PE ratio of -192.44 and a beta of 0.54. The business has a 50-day simple moving average of $58.22 and a two-hundred day simple moving average of $52.27. GitLab Inc. has a fifty-two week low of $40.72 and a fifty-two week high of $78.53.

Insider Buying and Selling

In related news, CEO Sytse Sijbrandij sold 84,776 shares of GitLab stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $59.64, for a total transaction of $5,056,040.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Brian G. Robins sold 10,000 shares of GitLab stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $67.59, for a total value of $675,900.00. Following the sale, the chief financial officer now directly owns 242,803 shares of the company’s stock, valued at $16,411,054.77. This trade represents a 3.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 178,365 shares of company stock valued at $10,350,684 over the last quarter. 21.36% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Truist Financial reaffirmed a “buy” rating and set a $90.00 target price (up from $80.00) on shares of GitLab in a research report on Friday, December 6th. JPMorgan Chase & Co. increased their target price on shares of GitLab from $60.00 to $65.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Scotiabank upped their price target on shares of GitLab from $65.00 to $75.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, December 4th. BTIG Research lifted their price objective on shares of GitLab from $58.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Finally, DA Davidson upped their target price on GitLab from $50.00 to $70.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Three analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, GitLab has an average rating of “Moderate Buy” and an average target price of $75.88.

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.