Fiera Capital Corp Sells 29,176 Shares of GitLab Inc. (NASDAQ:GTLB)

Fiera Capital Corp cut its position in shares of GitLab Inc. (NASDAQ:GTLB) by 2.3% during the 4th quarter, HoldingsChannel reports. The firm owned 1,230,253 shares of the company’s stock after selling 29,176 shares during the period. Fiera Capital Corp’s holdings in GitLab were worth $69,325,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sanctuary Advisors LLC bought a new position in shares of GitLab during the second quarter valued at approximately $199,000. SG Americas Securities LLC purchased a new stake in shares of GitLab in the 3rd quarter worth approximately $119,000. Creative Planning bought a new position in GitLab during the 3rd quarter valued at approximately $208,000. Renaissance Capital LLC raised its stake in GitLab by 20.0% during the third quarter. Renaissance Capital LLC now owns 127,788 shares of the company’s stock valued at $6,586,000 after buying an additional 21,337 shares during the last quarter. Finally, Claro Advisors LLC purchased a new position in GitLab during the third quarter valued at $304,000. 95.04% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on GTLB shares. The Goldman Sachs Group raised their price target on GitLab from $80.00 to $88.00 and gave the company a “buy” rating in a report on Friday, December 6th. Cantor Fitzgerald increased their price objective on shares of GitLab from $75.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Canaccord Genuity Group lifted their target price on shares of GitLab from $65.00 to $78.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Macquarie reiterated an “outperform” rating and issued a $90.00 target price on shares of GitLab in a research note on Wednesday, January 15th. Finally, Robert W. Baird raised their price target on shares of GitLab from $62.00 to $75.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Three equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $76.42.

Insider Transactions at GitLab

In related news, insider Robin Schulman sold 2,996 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $55.98, for a total transaction of $167,716.08. Following the completion of the transaction, the insider now directly owns 129,223 shares in the company, valued at approximately $7,233,903.54. The trade was a 2.27 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Karen Blasing sold 3,250 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $59.41, for a total transaction of $193,082.50. Following the sale, the director now owns 137,983 shares in the company, valued at approximately $8,197,570.03. The trade was a 2.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 828,283 shares of company stock worth $49,959,990 in the last 90 days. 21.36% of the stock is currently owned by insiders.

GitLab Stock Performance

Shares of NASDAQ GTLB opened at $69.79 on Thursday. GitLab Inc. has a 12-month low of $40.72 and a 12-month high of $76.58. The firm has a 50 day moving average of $63.30 and a 200 day moving average of $56.77.

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.