GitLab Inc. (NASDAQ:GTLB) Shares Bought by Steward Partners Investment Advisory LLC

Steward Partners Investment Advisory LLC boosted its position in shares of GitLab Inc. (NASDAQ:GTLB) by 4,273.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,312 shares of the company’s stock after buying an additional 1,282 shares during the period. Steward Partners Investment Advisory LLC’s holdings in GitLab were worth $74,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Franklin Resources Inc. grew its position in shares of GitLab by 0.8% in the third quarter. Franklin Resources Inc. now owns 2,670,072 shares of the company’s stock valued at $146,774,000 after purchasing an additional 21,976 shares in the last quarter. State Street Corp grew its position in GitLab by 5.8% in the third quarter. State Street Corp now owns 2,032,206 shares of the company’s stock worth $104,740,000 after acquiring an additional 111,997 shares during the period. Geode Capital Management LLC lifted its stake in GitLab by 7.0% during the third quarter. Geode Capital Management LLC now owns 2,026,567 shares of the company’s stock worth $104,476,000 after purchasing an additional 132,548 shares in the last quarter. Bamco Inc. NY lifted its stake in GitLab by 0.4% during the third quarter. Bamco Inc. NY now owns 1,253,244 shares of the company’s stock worth $64,592,000 after purchasing an additional 4,874 shares in the last quarter. Finally, ARK Investment Management LLC lifted its stake in GitLab by 345.2% during the fourth quarter. ARK Investment Management LLC now owns 1,160,502 shares of the company’s stock worth $65,394,000 after purchasing an additional 899,823 shares in the last quarter. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. TD Cowen increased their price objective on GitLab from $63.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Cantor Fitzgerald reiterated an “overweight” rating and issued a $80.00 price objective on shares of GitLab in a research note on Tuesday, March 4th. Wells Fargo & Company increased their target price on GitLab from $80.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. DA Davidson dropped their price objective on GitLab from $70.00 to $60.00 and set a “neutral” rating on the stock in a report on Friday, February 28th. Finally, KeyCorp raised their price objective on GitLab from $74.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Three analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, GitLab currently has an average rating of “Moderate Buy” and a consensus target price of $75.38.

GitLab Stock Down 0.3 %

Shares of NASDAQ:GTLB opened at $51.94 on Tuesday. The company has a market cap of $8.43 billion, a P/E ratio of -162.31 and a beta of 0.67. GitLab Inc. has a 52 week low of $40.72 and a 52 week high of $74.18. The company has a 50-day moving average price of $63.57 and a 200 day moving average price of $59.27.

Insider Activity at GitLab

In other news, insider Robin Schulman sold 2,996 shares of GitLab stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $55.98, for a total transaction of $167,716.08. Following the completion of the sale, the insider now directly owns 129,223 shares in the company, valued at approximately $7,233,903.54. This trade represents a 2.27 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Brian G. Robins sold 10,000 shares of GitLab stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $70.83, for a total transaction of $708,300.00. Following the sale, the chief financial officer now owns 267,380 shares of the company’s stock, 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. Insiders sold a total of 727,007 shares of company stock worth $43,843,249 over the last 90 days. Company insiders own 21.36% of the company’s stock.

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.