GitLab Inc. (NASDAQ:GTLB) Shares Bought by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. increased its position in GitLab Inc. (NASDAQ:GTLB) by 26.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 296,092 shares of the company’s stock after purchasing an additional 61,116 shares during the quarter. Envestnet Asset Management Inc. owned 0.18% of GitLab worth $16,685,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in GTLB. Barclays PLC boosted its position in GitLab by 189.1% in the 3rd quarter. Barclays PLC now owns 61,419 shares of the company’s stock valued at $3,164,000 after buying an additional 40,171 shares during the last quarter. Oddo BHF Asset Management Sas bought a new stake in shares of GitLab in the third quarter worth $6,865,000. Swiss National Bank increased its holdings in GitLab by 3.7% in the fourth quarter. Swiss National Bank now owns 215,000 shares of the company’s stock valued at $12,115,000 after buying an additional 7,700 shares during the last quarter. Barton Investment Management raised its stake in GitLab by 99.4% during the fourth quarter. Barton Investment Management now owns 335,648 shares of the company’s stock valued at $18,914,000 after buying an additional 167,290 shares in the last quarter. Finally, Jackson Square Capital LLC lifted its holdings in GitLab by 328.1% during the 4th quarter. Jackson Square Capital LLC now owns 36,600 shares of the company’s stock worth $2,062,000 after buying an additional 28,050 shares during the last quarter. 95.04% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other GitLab news, Director Susan L. Bostrom sold 40,000 shares of the business’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $51.88, for a total transaction of $2,075,200.00. Following the sale, the director now directly owns 144,913 shares of the company’s stock, valued at $7,518,086.44. The trade was a 21.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 value of $708,300.00. Following the completion of the sale, the chief financial officer now directly owns 267,380 shares of the company’s stock, valued at approximately $18,938,525.40. This trade represents a 3.61 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 221,386 shares of company stock worth $12,034,334. 21.36% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on GTLB shares. DA Davidson reduced their price objective on GitLab from $60.00 to $45.00 and set a “neutral” rating on the stock in a research note on Monday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $80.00 price objective on shares of GitLab in a research report on Tuesday, March 4th. Wells Fargo & Company raised their target price on shares of GitLab from $80.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. Needham & Company LLC restated a “buy” rating and set a $85.00 price objective on shares of GitLab in a research report on Tuesday, March 4th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $80.00 price objective on shares of GitLab in a research note on Tuesday, March 4th. Three investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $74.64.

GitLab Stock Performance

Shares of GTLB stock opened at $43.65 on Wednesday. The business’s fifty day moving average is $54.83 and its 200-day moving average is $58.28. GitLab Inc. has a 1 year low of $37.90 and a 1 year high of $74.18. The stock has a market cap of $7.08 billion, a PE ratio of -136.41 and a beta of 0.79.

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.