Hel Ved Capital Management Ltd Grows Stock Holdings in GitLab Inc. (NASDAQ:GTLB)

Hel Ved Capital Management Ltd lifted its stake in shares of GitLab Inc. (NASDAQ:GTLB) by 293.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 62,980 shares of the company’s stock after acquiring an additional 46,990 shares during the quarter. Hel Ved Capital Management Ltd’s holdings in GitLab were worth $3,549,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. EverSource Wealth Advisors LLC raised its position in GitLab by 5,700.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 522 shares of the company’s stock valued at $29,000 after purchasing an additional 513 shares in the last quarter. IMG Wealth Management Inc. bought a new stake in shares of GitLab in the fourth quarter valued at about $46,000. Raleigh Capital Management Inc. purchased a new stake in GitLab in the fourth quarter worth about $66,000. Smartleaf Asset Management LLC grew its holdings in GitLab by 1,067.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,261 shares of the company’s stock worth $71,000 after acquiring an additional 1,153 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC increased its position in GitLab by 4,273.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,312 shares of the company’s stock valued at $74,000 after purchasing an additional 1,282 shares during the period. Institutional investors own 95.04% of the company’s stock.

Insider Buying and Selling at GitLab

In related news, insider Sytse Sijbrandij sold 84,000 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $62.99, for a total value of $5,291,160.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Karen Blasing sold 6,500 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $63.19, for a total value of $410,735.00. Following the sale, the director now owns 128,233 shares of the company’s stock, valued at approximately $8,103,043.27. This trade represents a 4.82 % 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 valued at $17,736,229 over the last ninety days. Corporate insiders own 21.36% of the company’s stock.

Analysts Set New Price Targets

GTLB has been the topic of several research reports. Robert W. Baird cut their price objective on shares of GitLab from $80.00 to $76.00 and set an “outperform” rating on the stock in a report on Monday, March 3rd. Piper Sandler boosted their price target on GitLab from $75.00 to $85.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. KeyCorp raised their price objective on GitLab from $74.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. JPMorgan Chase & Co. reduced 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. Finally, Needham & Company LLC reissued a “buy” rating and set a $85.00 target price on shares of GitLab in a research report on Tuesday, March 4th. Three analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, GitLab presently has a consensus rating of “Moderate Buy” and an average target price of $75.09.

GitLab Stock Performance

GitLab stock opened at $41.09 on Friday. The stock has a market capitalization of $6.67 billion, a P/E ratio of -128.41 and a beta of 0.67. The company’s fifty day moving average price is $59.82 and its 200 day moving average price is $58.84. GitLab Inc. has a 1 year low of $37.90 and a 1 year high of $74.18.

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.