Wealth Enhancement Advisory Services LLC Sells 24,722 Shares of GitLab Inc. $GTLB

Wealth Enhancement Advisory Services LLC lowered its holdings in GitLab Inc. (NASDAQ:GTLB) by 13.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 165,621 shares of the company’s stock after selling 24,722 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in GitLab were worth $6,077,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Allworth Financial LP lifted its stake in shares of GitLab by 124.1% in the third quarter. Allworth Financial LP now owns 558 shares of the company’s stock valued at $25,000 after buying an additional 309 shares in the last quarter. Quarry LP acquired a new position in shares of GitLab during the third quarter valued at about $31,000. Farther Finance Advisors LLC increased its position in shares of GitLab by 284.3% during the third quarter. Farther Finance Advisors LLC now owns 907 shares of the company’s stock worth $41,000 after acquiring an additional 671 shares in the last quarter. Global Retirement Partners LLC increased its position in shares of GitLab by 84.1% during the third quarter. Global Retirement Partners LLC now owns 974 shares of the company’s stock worth $44,000 after acquiring an additional 445 shares in the last quarter. Finally, Larson Financial Group LLC raised its holdings in shares of GitLab by 92.7% in the 3rd quarter. Larson Financial Group LLC now owns 1,000 shares of the company’s stock worth $45,000 after acquiring an additional 481 shares during the last quarter. Institutional investors and hedge funds own 95.04% of the company’s stock.

GitLab Stock Performance

GitLab stock opened at $20.35 on Monday. GitLab Inc. has a fifty-two week low of $20.20 and a fifty-two week high of $54.08. The stock has a market cap of $3.46 billion, a PE ratio of -58.14 and a beta of 0.79. The firm’s 50-day simple moving average is $28.16 and its 200 day simple moving average is $37.83.

GitLab (NASDAQ:GTLB) last posted its quarterly earnings data on Tuesday, March 3rd. The company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.23 by $0.07. GitLab had a negative net margin of 5.86% and a negative return on equity of 1.73%. The firm had revenue of $260.40 million during the quarter, compared to analyst estimates of $252.31 million. During the same quarter last year, the business posted $0.33 EPS. The company’s revenue for the quarter was up 23.2% on a year-over-year basis. As a group, analysts predict that GitLab Inc. will post -0.31 EPS for the current fiscal year.

Wall Street Analyst Weigh In

GTLB has been the topic of several recent research reports. Morgan Stanley dropped their price target on shares of GitLab from $38.00 to $29.00 and set a “cautious” rating on the stock in a research report on Monday, March 9th. Needham & Company LLC decreased their price objective on GitLab from $50.00 to $32.00 and set a “buy” rating for the company in a report on Wednesday, March 4th. William Blair reissued an “underperform” rating on shares of GitLab in a research note on Monday, March 23rd. DA Davidson set a $24.00 target price on GitLab in a report on Thursday, March 5th. Finally, BTIG Research cut their target price on GitLab from $32.00 to $30.00 and set a “buy” rating on the stock in a research report on Wednesday, March 4th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, thirteen have issued a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $39.62.

Insider Activity

In related news, Director Sytse Sijbrandij sold 54,300 shares of the stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $28.41, for a total transaction of $1,542,663.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO James Shen sold 2,538 shares of GitLab stock in a transaction on Wednesday, December 31st. The stock was sold at an average price of $38.08, for a total value of $96,647.04. Following the sale, the chief financial officer owned 52,284 shares in the company, valued at $1,990,974.72. This trade represents a 4.63% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,271,046 shares of company stock valued at $29,945,143 over the last three months. Corporate insiders own 21.36% of the company’s stock.

GitLab Profile

GitLab Inc (NASDAQ: GTLB) is a leading provider of a unified DevOps platform designed to streamline the software development lifecycle. Founded in 2011 by Dmitriy Zaporozhets and Sid Sijbrandij, the company initially gained recognition for its open-source Git repository manager. Over time, GitLab expanded its offerings to encompass planning, source code management, continuous integration/continuous deployment (CI/CD), security testing, and monitoring in a single application. This integrated approach enables development teams to collaborate efficiently, reduce toolchain complexity, and accelerate release cycles.

The GitLab platform is offered through both cloud-hosted and self-managed deployment models, catering to organizations of all sizes.