GitLab Inc. (NASDAQ:GTLB) Shares Acquired by Treasurer of the State of North Carolina

Treasurer of the State of North Carolina increased its holdings in GitLab Inc. (NASDAQ:GTLB) by 3.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 53,647 shares of the company’s stock after acquiring an additional 1,880 shares during the quarter. Treasurer of the State of North Carolina’s holdings in GitLab were worth $3,023,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of GTLB. MML Investors Services LLC purchased a new position in shares of GitLab in the 3rd quarter valued at approximately $1,685,000. Barclays PLC increased its stake in GitLab by 189.1% in the 3rd quarter. Barclays PLC now owns 61,419 shares of the company’s stock valued at $3,164,000 after buying an additional 40,171 shares during the period. M&T Bank Corp purchased a new position in GitLab during the 3rd quarter worth $248,000. Geode Capital Management LLC lifted its stake in shares of GitLab by 7.0% in the 3rd quarter. Geode Capital Management LLC now owns 2,026,567 shares of the company’s stock worth $104,476,000 after acquiring an additional 132,548 shares during the period. Finally, Sanctuary Advisors LLC boosted its holdings in shares of GitLab by 205.9% in the third quarter. Sanctuary Advisors LLC now owns 12,245 shares of the company’s stock valued at $631,000 after acquiring an additional 8,242 shares in the last quarter. Institutional investors and hedge funds own 95.04% of the company’s stock.

GitLab Price Performance

Shares of GTLB stock opened at $42.17 on Thursday. The firm has a market cap of $6.84 billion, a P/E ratio of -131.78 and a beta of 0.79. GitLab Inc. has a fifty-two week low of $37.90 and a fifty-two week high of $74.18. The stock’s 50-day moving average is $54.26 and its two-hundred day moving average is $58.17.

Analysts Set New Price Targets

A number of research firms recently weighed in on GTLB. Cantor Fitzgerald restated an “overweight” rating and issued a $80.00 price target on shares of GitLab in a research note on Tuesday, March 4th. Truist Financial decreased their target price on shares of GitLab from $90.00 to $80.00 and set a “buy” rating on the stock in a research report on Monday, March 31st. Robert W. Baird cut their price target on shares of GitLab from $80.00 to $76.00 and set an “outperform” rating for the company in a report on Monday, March 3rd. Mizuho decreased their price objective on shares of GitLab from $80.00 to $72.00 and set an “outperform” rating on the stock in a report on Tuesday, March 4th. Finally, JPMorgan Chase & Co. dropped their target price on shares of GitLab from $65.00 to $62.00 and set a “neutral” rating for the company in a report on Tuesday, March 4th. Three investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $73.55.

Insider Transactions at GitLab

In other news, CFO Brian G. Robins sold 10,000 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $70.83, for a total value of $708,300.00. Following the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Sytse Sijbrandij sold 108,600 shares of the business’s stock in a transaction dated Tuesday, April 15th. The stock was 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. In the last quarter, insiders sold 329,986 shares of company stock worth $16,690,016. 21.36% of the stock is owned by corporate insiders.

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.