Stephens Investment Management Group LLC Sells 12,556 Shares of GitLab Inc. (NASDAQ:GTLB)

Stephens Investment Management Group LLC decreased its stake in shares of GitLab Inc. (NASDAQ:GTLB) by 1.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 711,709 shares of the company’s stock after selling 12,556 shares during the quarter. Stephens Investment Management Group LLC owned 0.44% of GitLab worth $40,105,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in GTLB. The Manufacturers Life Insurance Company raised its holdings in GitLab by 11.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 27,960 shares of the company’s stock valued at $1,390,000 after acquiring an additional 2,783 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in GitLab during the second quarter worth $199,000. SG Americas Securities LLC bought a new stake in GitLab in the 3rd quarter valued at $119,000. Park Avenue Securities LLC lifted its holdings in shares of GitLab by 21.6% during the 3rd quarter. Park Avenue Securities LLC now owns 4,995 shares of the company’s stock worth $257,000 after acquiring an additional 887 shares during the period. Finally, CWM LLC boosted its position in shares of GitLab by 40.9% during the 3rd quarter. CWM LLC now owns 65,523 shares of the company’s stock valued at $3,377,000 after acquiring an additional 19,022 shares in the last quarter. Institutional investors own 95.04% of the company’s stock.

Analyst Ratings Changes

GTLB has been the subject of a number of analyst reports. Royal Bank of Canada raised their price target on shares of GitLab from $73.00 to $80.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. KeyCorp upped their price target on GitLab from $74.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Barclays lifted their price objective on GitLab from $55.00 to $70.00 and gave the company an “equal weight” rating in a report on Monday, December 9th. Needham & Company LLC reiterated a “buy” rating and set a $85.00 target price on shares of GitLab in a research report on Tuesday, January 7th. Finally, DA Davidson boosted their price target on shares of GitLab from $50.00 to $70.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Three equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $76.42.

Insider Buying and Selling at GitLab

In related news, insider Robin Schulman sold 9,251 shares of the stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $70.00, for a total transaction of $647,570.00. Following the completion of the transaction, the insider now directly owns 121,893 shares in the company, valued at approximately $8,532,510. This trade represents a 7.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Brian G. Robins sold 10,000 shares of the company’s stock in a transaction that occurred 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 transaction, 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 ninety days, insiders sold 828,283 shares of company stock valued at $49,959,990. Company insiders own 21.36% of the company’s stock.

GitLab Stock Down 1.3 %

Shares of GTLB stock opened at $70.55 on Friday. The firm has a market capitalization of $11.45 billion, a price-to-earnings ratio of -220.47 and a beta of 0.63. GitLab Inc. has a 12-month low of $40.72 and a 12-month high of $78.53. The firm has a fifty day moving average of $63.04 and a 200-day moving average of $56.49.

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.