GitLab Inc. (NASDAQ:GTLB) Shares Sold by Stifel Financial Corp

Stifel Financial Corp lessened its position in GitLab Inc. (NASDAQ:GTLB) by 3.9% in the 3rd quarter, Holdings Channel reports. The fund owned 51,263 shares of the company’s stock after selling 2,075 shares during the period. Stifel Financial Corp’s holdings in GitLab were worth $2,642,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Future Financial Wealth Managment LLC purchased a new position in GitLab during the third quarter worth about $52,000. True Wealth Design LLC acquired a new position in GitLab during the 3rd quarter worth approximately $56,000. Rakuten Securities Inc. raised its stake in shares of GitLab by 268.1% during the 3rd quarter. Rakuten Securities Inc. now owns 1,417 shares of the company’s stock worth $73,000 after buying an additional 1,032 shares in the last quarter. Quarry LP raised its stake in shares of GitLab by 527.0% during the 2nd quarter. Quarry LP now owns 1,787 shares of the company’s stock worth $89,000 after buying an additional 1,502 shares in the last quarter. Finally, Capital Performance Advisors LLP acquired a new stake in shares of GitLab in the 3rd quarter valued at approximately $96,000. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Morgan Stanley increased their price objective on GitLab from $70.00 to $77.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. Cantor Fitzgerald raised their price objective on shares of GitLab from $75.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Barclays upped their target price on shares of GitLab from $55.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Monday, December 9th. Scotiabank lifted their price target on shares of GitLab from $65.00 to $75.00 and gave the company a “sector outperform” rating in a research report on Wednesday, December 4th. Finally, Mizuho upped their price target on GitLab from $67.00 to $80.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Three investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $76.42.

GitLab Trading Down 3.2 %

GitLab stock opened at $57.24 on Thursday. GitLab Inc. has a 52 week low of $40.72 and a 52 week high of $78.53. The stock has a fifty day moving average price of $59.52 and a 200 day moving average price of $52.64. The firm has a market capitalization of $9.29 billion, a P/E ratio of -178.88 and a beta of 0.54.

Insider Buying and Selling

In other news, Director Karen Blasing sold 3,250 shares of GitLab stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $58.99, for a total value of $191,717.50. Following the transaction, the director now directly owns 134,733 shares of the company’s stock, valued at $7,947,899.67. The trade was a 2.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Brian G. Robins sold 16,666 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $56.74, for a total transaction of $945,628.84. Following the sale, the chief financial officer now directly owns 242,803 shares of the company’s stock, valued at approximately $13,776,642.22. This trade represents a 6.42 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 180,182 shares of company stock valued at $10,466,739. Insiders own 21.36% of the company’s stock.

GitLab Company 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.