Mariner LLC Purchases 214 Shares of GitLab Inc. (NASDAQ:GTLB)

Mariner LLC grew its holdings in shares of GitLab Inc. (NASDAQ:GTLB) by 1.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,583 shares of the company’s stock after acquiring an additional 214 shares during the period. Mariner LLC’s holdings in GitLab were worth $709,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Barclays PLC grew its stake in GitLab by 189.1% during the third quarter. Barclays PLC now owns 61,419 shares of the company’s stock worth $3,164,000 after purchasing an additional 40,171 shares during the period. Wilmington Savings Fund Society FSB bought a new position in shares of GitLab during the 3rd quarter worth approximately $98,000. Franklin Resources Inc. grew its position in shares of GitLab by 0.8% during the 3rd quarter. Franklin Resources Inc. now owns 2,670,072 shares of the company’s stock worth $146,774,000 after buying an additional 21,976 shares during the period. Oddo BHF Asset Management Sas bought a new stake in shares of GitLab in the 3rd quarter valued at $6,865,000. Finally, Everence Capital Management Inc. acquired a new position in shares of GitLab during the 4th quarter valued at $221,000. 95.04% of the stock is owned by institutional investors.

GitLab Stock Performance

NASDAQ GTLB opened at $47.15 on Wednesday. The company has a market capitalization of $7.65 billion, a PE ratio of -147.34 and a beta of 0.79. GitLab Inc. has a 52-week low of $37.90 and a 52-week high of $74.18. The company has a 50-day simple moving average of $49.74 and a 200 day simple moving average of $57.78.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. JPMorgan Chase & Co. decreased their price target on shares of GitLab from $65.00 to $62.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. Truist Financial decreased their target price on GitLab from $90.00 to $80.00 and set a “buy” rating for the company in a research report on Monday, March 31st. Robert W. Baird dropped their price target on GitLab from $80.00 to $76.00 and set an “outperform” rating on the stock in a research note on Monday, March 3rd. Barclays reduced their price objective on GitLab from $70.00 to $58.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 4th. Finally, Mizuho lowered their target price on GitLab from $80.00 to $72.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 4th. Three research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, GitLab currently has a consensus rating of “Moderate Buy” and an average price target of $71.73.

Insider Transactions at GitLab

In other GitLab news, CFO Brian G. Robins sold 10,000 shares of the 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 completion of the transaction, the chief financial officer now directly owns 267,380 shares of the company’s stock, valued at approximately $18,938,525.40. This represents a 3.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Karen Blasing sold 3,250 shares of the business’s stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $45.00, for a total value of $146,250.00. Following the completion of the sale, the director now owns 111,983 shares in the company, valued at approximately $5,039,235. The trade was a 2.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 314,734 shares of company stock worth $15,587,381 in the last quarter. Insiders own 21.36% of the company’s stock.

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.