GitLab Inc. (NASDAQ:GTLB) Stock Holdings Raised by Janus Henderson Group PLC

Janus Henderson Group PLC grew its stake in GitLab Inc. (NASDAQ:GTLB) by 5.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 49,594 shares of the company’s stock after purchasing an additional 2,600 shares during the quarter. Janus Henderson Group PLC’s holdings in GitLab were worth $2,794,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of GTLB. M&T Bank Corp raised its stake in GitLab by 3.1% during the fourth quarter. M&T Bank Corp now owns 4,965 shares of the company’s stock valued at $280,000 after buying an additional 148 shares in the last quarter. Wilmington Savings Fund Society FSB raised its position in shares of GitLab by 7.9% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 2,050 shares of the company’s stock valued at $116,000 after acquiring an additional 150 shares in the last quarter. OneDigital Investment Advisors LLC lifted its stake in GitLab by 4.3% during the fourth quarter. OneDigital Investment Advisors LLC now owns 4,047 shares of the company’s stock worth $228,000 after purchasing an additional 166 shares during the last quarter. Utah Retirement Systems boosted its holdings in GitLab by 3.1% in the fourth quarter. Utah Retirement Systems now owns 6,600 shares of the company’s stock worth $372,000 after purchasing an additional 200 shares during the period. Finally, Mariner LLC increased its stake in GitLab by 1.7% during the fourth quarter. Mariner LLC now owns 12,583 shares of the company’s stock valued at $709,000 after purchasing an additional 214 shares during the last quarter. Institutional investors own 95.04% of the company’s stock.

Insider Buying and Selling

In other news, Director Susan L. Bostrom sold 40,000 shares of the business’s stock in a transaction on Wednesday, March 19th. The stock was 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Sytse Sijbrandij sold 108,600 shares of the stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $42.87, for a total value of $4,655,682.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 461,584 shares of company stock worth $23,192,574. Corporate insiders own 21.36% of the company’s stock.

GitLab Stock Performance

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

Wall Street Analysts Forecast Growth

GTLB has been the subject of several research reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $85.00 price target on shares of GitLab in a report on Tuesday, March 4th. KeyCorp lowered their target price on GitLab from $80.00 to $60.00 and set an “overweight” rating for the company in a report on Thursday, April 17th. Morgan Stanley dropped their price target on GitLab from $77.00 to $53.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. Royal Bank of Canada restated an “outperform” rating and set a $80.00 price objective on shares of GitLab in a research report on Tuesday, March 4th. Finally, Truist Financial dropped their target price on GitLab from $90.00 to $80.00 and set a “buy” rating on the stock in a research report on Monday, March 31st. Three equities 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. According to data from MarketBeat, GitLab presently has a consensus rating of “Moderate Buy” and a consensus target price of $71.73.

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.