Wealth Enhancement Advisory Services LLC Has $6.08 Million Position in GitLab Inc. $GTLB

Wealth Enhancement Advisory Services LLC lessened its stake in GitLab Inc. (NASDAQ:GTLB) by 13.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 165,621 shares of the company’s stock after selling 24,722 shares during the period. Wealth Enhancement Advisory Services LLC owned about 0.10% of GitLab worth $6,077,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in GTLB. Blue Trust Inc. lifted its stake in shares of GitLab by 3.6% in the third quarter. Blue Trust Inc. now owns 8,770 shares of the company’s stock worth $395,000 after acquiring an additional 302 shares during the period. Allworth Financial LP increased its position in GitLab by 124.1% during the 3rd quarter. Allworth Financial LP now owns 558 shares of the company’s stock valued at $25,000 after purchasing an additional 309 shares during the period. Jones Financial Companies Lllp increased its position in GitLab by 20.1% during the 3rd quarter. Jones Financial Companies Lllp now owns 2,139 shares of the company’s stock valued at $102,000 after purchasing an additional 358 shares during the period. Prostatis Group LLC raised its holdings in GitLab by 6.5% during the 3rd quarter. Prostatis Group LLC now owns 6,051 shares of the company’s stock worth $273,000 after purchasing an additional 368 shares during the last quarter. Finally, Truist Financial Corp raised its holdings in GitLab by 1.6% during the 3rd quarter. Truist Financial Corp now owns 24,473 shares of the company’s stock worth $1,103,000 after purchasing an additional 389 shares during the last quarter. Institutional investors and hedge funds own 95.04% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on GTLB shares. BTIG Research reduced their price objective on shares of GitLab from $32.00 to $30.00 and set a “buy” rating on the stock in a research note on Wednesday, March 4th. TD Cowen lowered shares of GitLab from a “buy” rating to a “hold” rating and set a $29.00 target price on the stock. in a report on Monday, March 2nd. Macquarie Infrastructure cut shares of GitLab from an “outperform” rating to a “neutral” rating and cut their price target for the company from $70.00 to $40.00 in a research report on Wednesday, December 3rd. Wells Fargo & Company decreased their price target on GitLab from $45.00 to $26.00 and set an “equal weight” rating for the company in a report on Wednesday, March 4th. Finally, Canaccord Genuity Group lowered their price objective on GitLab from $70.00 to $40.00 and set a “buy” rating for the company in a research report on Wednesday, March 4th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, thirteen have given a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $39.62.

Insider Activity

In related news, Director Matthew Jacobson sold 700,109 shares of the business’s stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $22.95, for a total value of $16,067,501.55. Following the completion of the sale, the director directly owned 325 shares of the company’s stock, valued at $7,458.75. The trade was a 99.95% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO James Shen sold 2,538 shares of the business’s stock in a transaction dated Wednesday, December 31st. The shares were sold at an average price of $38.08, for a total value of $96,647.04. Following the completion of the sale, the chief financial officer directly owned 52,284 shares of the company’s stock, valued at $1,990,974.72. The trade was a 4.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 1,271,046 shares of company stock worth $29,945,143. Company insiders own 21.36% of the company’s stock.

GitLab Price Performance

NASDAQ:GTLB opened at $20.35 on Monday. GitLab Inc. has a twelve month low of $20.20 and a twelve month high of $54.08. The company has a fifty day moving average of $28.16 and a 200-day moving average of $37.83. The firm has a market capitalization of $3.46 billion, a P/E ratio of -58.14 and a beta of 0.79.

GitLab (NASDAQ:GTLB) last issued its earnings results on Tuesday, March 3rd. The company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.07. The business had revenue of $260.40 million for the quarter, compared to analyst estimates of $252.31 million. GitLab had a negative net margin of 5.86% and a negative return on equity of 1.73%. GitLab’s revenue was up 23.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.33 earnings per share. On average, analysts anticipate that GitLab Inc. will post -0.31 EPS for the current fiscal year.

About GitLab

GitLab Inc (NASDAQ: GTLB) is a leading provider of a unified DevOps platform designed to streamline the software development lifecycle. Founded in 2011 by Dmitriy Zaporozhets and Sid Sijbrandij, the company initially gained recognition for its open-source Git repository manager. Over time, GitLab expanded its offerings to encompass planning, source code management, continuous integration/continuous deployment (CI/CD), security testing, and monitoring in a single application. This integrated approach enables development teams to collaborate efficiently, reduce toolchain complexity, and accelerate release cycles.

The GitLab platform is offered through both cloud-hosted and self-managed deployment models, catering to organizations of all sizes.