Neuberger Berman Group LLC Has $1.55 Million Stock Holdings in GitLab Inc. (NASDAQ:GTLB)

Neuberger Berman Group LLC raised its stake in GitLab Inc. (NASDAQ:GTLB) by 22.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,446 shares of the company’s stock after purchasing an additional 4,987 shares during the period. Neuberger Berman Group LLC’s holdings in GitLab were worth $1,547,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in GitLab by 7.2% in the 4th quarter. Vanguard Group Inc. now owns 13,142,592 shares of the company’s stock valued at $740,585,000 after buying an additional 885,955 shares during the last quarter. Norges Bank bought a new position in shares of GitLab during the fourth quarter worth approximately $279,089,000. Artisan Partners Limited Partnership lifted its holdings in GitLab by 55.7% during the 4th quarter. Artisan Partners Limited Partnership now owns 4,034,041 shares of the company’s stock worth $227,318,000 after purchasing an additional 1,443,160 shares during the last quarter. Franklin Resources Inc. boosted its stake in GitLab by 17.6% in the 4th quarter. Franklin Resources Inc. now owns 3,140,264 shares of the company’s stock valued at $176,954,000 after purchasing an additional 470,192 shares during the period. Finally, Geode Capital Management LLC grew its holdings in GitLab by 3.2% in the 4th quarter. Geode Capital Management LLC now owns 2,091,780 shares of the company’s stock valued at $117,908,000 after buying an additional 65,213 shares in the last quarter. 95.04% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

GTLB has been the topic of several research reports. Macquarie restated an “outperform” rating and issued a $90.00 price target on shares of GitLab in a research note on Tuesday, March 4th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $80.00 target price on shares of GitLab in a report on Tuesday, March 4th. Barclays cut their price target 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. DA Davidson lowered their price objective on GitLab from $70.00 to $60.00 and set a “neutral” rating on the stock in a research note on Friday, February 28th. Finally, Truist Financial cut 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. Three investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $75.09.

Insider Buying and Selling

In other news, Director Susan L. Bostrom sold 40,000 shares of the stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $51.88, for a total value of $2,075,200.00. Following the completion of the sale, the director now owns 144,913 shares of the company’s stock, valued at approximately $7,518,086.44. This represents a 21.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Matthew Jacobson sold 152,884 shares of GitLab stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $52.34, for a total value of $8,001,948.56. Following the completion of the transaction, the director now directly owns 493,554 shares in the company, valued at approximately $25,832,616.36. This represents a 23.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 311,886 shares of company stock worth $17,736,229 in the last ninety days. Company insiders own 21.36% of the company’s stock.

GitLab Trading Down 2.5 %

Shares of GTLB stock opened at $41.92 on Friday. The business’s 50-day moving average price is $56.00 and its 200-day moving average price is $58.40. 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 $6.80 billion, a price-to-earnings ratio of -131.00 and a beta of 0.79.

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.