Barclays PLC Boosts Stake in GitLab Inc. (NASDAQ:GTLB)

Barclays PLC grew its position in shares of GitLab Inc. (NASDAQ:GTLB) by 8.5% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 66,629 shares of the company’s stock after acquiring an additional 5,210 shares during the period. Barclays PLC’s holdings in GitLab were worth $3,754,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in GTLB. EverSource Wealth Advisors LLC increased 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 buying an additional 513 shares in the last quarter. IMG Wealth Management Inc. purchased a new position in shares of GitLab in the 4th quarter worth about $46,000. Raleigh Capital Management Inc. purchased a new position in shares of GitLab in the 4th quarter worth about $66,000. Smartleaf Asset Management LLC raised its position in shares of GitLab by 1,067.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,261 shares of the company’s stock worth $71,000 after purchasing an additional 1,153 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC raised its position in shares of GitLab by 4,273.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,312 shares of the company’s stock worth $74,000 after purchasing an additional 1,282 shares during the last quarter. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Insider Activity at GitLab

In related news, CFO Brian G. Robins sold 10,000 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $70.83, for a total value of $708,300.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Matthew Jacobson sold 152,884 shares of the firm’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $52.34, for a total transaction of $8,001,948.56. Following the completion of the transaction, the director now directly owns 493,554 shares of the company’s stock, valued at approximately $25,832,616.36. This trade represents a 23.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 314,734 shares of company stock valued at $15,587,381. 21.36% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Wells Fargo & Company decreased their target price on GitLab from $85.00 to $65.00 and set an “overweight” rating for the company in a research report on Tuesday, April 22nd. Macquarie restated an “outperform” rating and set a $90.00 price target on shares of GitLab in a research note on Tuesday, March 4th. Truist Financial cut their price target on GitLab from $90.00 to $80.00 and set a “buy” rating for the company in a research note on Monday, March 31st. Robert W. Baird cut their price target on GitLab from $80.00 to $76.00 and set an “outperform” rating for the company in a research note on Monday, March 3rd. Finally, Mizuho cut their price target on GitLab from $80.00 to $72.00 and set an “outperform” rating for the company in a research note on Tuesday, March 4th. Three analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, GitLab presently has a consensus rating of “Moderate Buy” and a consensus price target of $71.73.

GitLab Stock Performance

GTLB stock opened at $46.96 on Tuesday. The firm has a fifty day moving average price of $50.14 and a 200 day moving average price of $57.85. GitLab Inc. has a fifty-two week low of $37.90 and a fifty-two week high of $74.18. The firm has a market cap of $7.62 billion, a PE ratio of -146.75 and a beta of 0.79.

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.