LPL Financial LLC Has $2.06 Million Stock Holdings in GitLab Inc. (NASDAQ:GTLB)

LPL Financial LLC grew its holdings in shares of GitLab Inc. (NASDAQ:GTLB) by 67.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 36,549 shares of the company’s stock after acquiring an additional 14,765 shares during the period. LPL Financial LLC’s holdings in GitLab were worth $2,060,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. EverSource Wealth Advisors LLC lifted its holdings in GitLab by 5,700.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 522 shares of the company’s stock worth $29,000 after buying an additional 513 shares during the period. IMG Wealth Management Inc. bought a new stake in GitLab in the fourth quarter valued at approximately $46,000. Raleigh Capital Management Inc. acquired a new stake in GitLab during the 4th quarter valued at approximately $66,000. Smartleaf Asset Management LLC raised its holdings in GitLab by 1,067.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,261 shares of the company’s stock worth $71,000 after purchasing an additional 1,153 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC lifted its position in shares of GitLab by 4,273.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,312 shares of the company’s stock worth $74,000 after purchasing an additional 1,282 shares during the period. Institutional investors and hedge funds own 95.04% of the company’s stock.

Insiders Place Their Bets

In other GitLab news, CFO Brian G. Robins sold 10,000 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $70.83, for a total transaction of $708,300.00. Following the transaction, the chief financial officer now directly owns 267,380 shares in the company, valued at approximately $18,938,525.40. This trade represents a 3.61 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Karen Blasing sold 6,500 shares of the company’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $63.19, for a total transaction of $410,735.00. Following the completion of the sale, the director now owns 128,233 shares of the company’s stock, valued at approximately $8,103,043.27. The trade was a 4.82 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 311,886 shares of company stock valued at $17,736,229. Corporate insiders own 21.36% of the company’s stock.

GitLab Price Performance

NASDAQ:GTLB opened at $42.41 on Tuesday. GitLab Inc. has a one year low of $37.90 and a one year high of $74.18. The company has a market cap of $6.88 billion, a PE ratio of -132.53 and a beta of 0.79. The firm has a 50-day moving average of $55.39 and a 200-day moving average of $58.38.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on GTLB. Needham & Company LLC reiterated a “buy” rating and set a $85.00 price objective on shares of GitLab in a research report on Tuesday, March 4th. Barclays decreased their price target on GitLab from $70.00 to $58.00 and set an “equal weight” rating for the company in a report on Tuesday, March 4th. Royal Bank of Canada reissued an “outperform” rating and issued a $80.00 price objective on shares of GitLab in a research note on Tuesday, March 4th. DA Davidson decreased their target price on GitLab from $60.00 to $45.00 and set a “neutral” rating for the company in a research note on Monday. Finally, Mizuho lowered their target price on GitLab from $80.00 to $72.00 and set an “outperform” rating for the company in a report on Tuesday, March 4th. Three equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $74.64.

GitLab 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.