GitLab Inc. (NASDAQ:GTLB) Shares Sold by Stifel Financial Corp

Stifel Financial Corp trimmed its holdings in GitLab Inc. (NASDAQ:GTLB) by 3.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 51,263 shares of the company’s stock after selling 2,075 shares during the period. Stifel Financial Corp’s holdings in GitLab were worth $2,642,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Fiera Capital Corp grew its holdings in shares of GitLab by 1.4% during 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. Bamco Inc. NY lifted its position in GitLab by 0.4% in the third quarter. Bamco Inc. NY now owns 1,253,244 shares of the company’s stock valued at $64,592,000 after buying an additional 4,874 shares during the last quarter. Renaissance Technologies LLC boosted its stake in GitLab by 168.8% during the second quarter. Renaissance Technologies LLC now owns 1,190,582 shares of the company’s stock worth $59,196,000 after buying 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 valued at $41,120,000 after acquiring an additional 603,200 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of GitLab by 8.3% in the 3rd 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 during the period. Institutional investors and hedge funds own 95.04% of the company’s stock.

Insider Buying and Selling

In other news, CFO Brian G. Robins sold 10,000 shares of the stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $67.59, for a total transaction of $675,900.00. Following the completion of the sale, the chief financial officer now owns 242,803 shares in the company, valued at approximately $16,411,054.77. This represents a 3.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Karen Blasing sold 3,250 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $58.99, for a total value of $191,717.50. Following the transaction, the director now directly owns 134,733 shares in the company, valued at approximately $7,947,899.67. This represents a 2.36 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 180,182 shares of company stock worth $10,466,739 in the last quarter. 21.36% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. DA Davidson lifted their target price on shares of GitLab from $50.00 to $70.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Royal Bank of Canada increased their target price on GitLab from $73.00 to $80.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. BTIG Research lifted their target price on GitLab from $58.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. Wells Fargo & Company increased their price target on shares of GitLab from $75.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. Finally, Truist Financial restated a “buy” rating and issued a $90.00 price objective (up previously from $80.00) on shares of GitLab in a report on Friday, December 6th. Three research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $76.42.

GitLab Stock Performance

GTLB opened at $57.24 on Thursday. GitLab Inc. has a one year low of $40.72 and a one year high of $78.53. The stock has a market capitalization of $9.29 billion, a P/E ratio of -178.88 and a beta of 0.54. The business’s 50-day simple moving average is $59.52 and its 200-day simple moving average is $52.64.

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.