GitLab Inc. (NASDAQ:GTLB) Shares Acquired by Deutsche Bank AG

Deutsche Bank AG raised its position in GitLab Inc. (NASDAQ:GTLB) by 29.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 63,029 shares of the company’s stock after purchasing an additional 14,468 shares during the period. Deutsche Bank AG’s holdings in GitLab were worth $3,552,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the business. EverSource Wealth Advisors LLC grew its position in shares of GitLab by 5,700.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 522 shares of the company’s stock valued at $29,000 after buying an additional 513 shares during the last quarter. CoreCap Advisors LLC boosted its holdings in GitLab by 327.5% in the 4th quarter. CoreCap Advisors LLC now owns 590 shares of the company’s stock valued at $33,000 after purchasing an additional 452 shares in the last quarter. IMG Wealth Management Inc. acquired a new position in GitLab during the fourth quarter worth $46,000. Raleigh Capital Management Inc. acquired a new stake in shares of GitLab in the fourth quarter valued at about $66,000. Finally, Smartleaf Asset Management LLC increased its position in shares of GitLab by 1,067.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,261 shares of the company’s stock valued at $71,000 after buying an additional 1,153 shares in the last quarter. 95.04% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. KeyCorp lowered their target price on GitLab from $80.00 to $60.00 and set an “overweight” rating on the stock in a report on Thursday, April 17th. Needham & Company LLC reissued a “buy” rating and issued a $85.00 price objective on shares of GitLab in a research report on Tuesday, March 4th. Robert W. Baird dropped their price target on shares of GitLab from $80.00 to $76.00 and set an “outperform” rating on the stock in a research note on Monday, March 3rd. Barclays decreased their price target on shares of GitLab from $70.00 to $58.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 4th. Finally, Morgan Stanley cut their price objective on GitLab from $77.00 to $53.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 16th. 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 company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $71.73.

Insiders Place Their Bets

In other news, Director Karen Blasing sold 3,250 shares of the firm’s stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $51.58, for a total transaction of $167,635.00. Following the completion of the transaction, the director now owns 108,733 shares in the company, valued at approximately $5,608,448.14. This trade represents a 2.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Sytse Sijbrandij sold 108,600 shares of the business’s stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $42.87, for a total transaction of $4,655,682.00. The disclosure for this sale can be found here. Insiders sold 461,584 shares of company stock worth $23,192,574 over the last ninety days. Company insiders own 21.36% of the company’s stock.

GitLab Price Performance

NASDAQ GTLB opened at $50.16 on Wednesday. GitLab Inc. has a 12 month low of $37.90 and a 12 month high of $74.18. The firm has a market capitalization of $8.23 billion, a PE ratio of -156.75 and a beta of 0.79. The company’s 50 day simple moving average is $47.13 and its 200 day simple moving average is $57.21.

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.