Wealthcare Advisory Partners LLC Takes $311,000 Position in GitLab Inc. (NASDAQ:GTLB)

Wealthcare Advisory Partners LLC acquired a new stake in GitLab Inc. (NASDAQ:GTLB) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 5,513 shares of the company’s stock, valued at approximately $311,000.

Several other large investors also recently modified their holdings of GTLB. Y Intercept Hong Kong Ltd bought a new stake in shares of GitLab in the third quarter valued at about $678,000. State Street Corp grew its holdings in shares of GitLab by 5.8% during the 3rd quarter. State Street Corp now owns 2,032,206 shares of the company’s stock valued at $104,740,000 after purchasing an additional 111,997 shares during the last quarter. Barclays PLC increased its position in GitLab by 189.1% during the 3rd quarter. Barclays PLC now owns 61,419 shares of the company’s stock worth $3,164,000 after purchasing an additional 40,171 shares in the last quarter. Oddo BHF Asset Management Sas acquired a new position in GitLab during the 3rd quarter worth approximately $6,865,000. Finally, ARK Investment Management LLC bought a new position in GitLab in the 3rd quarter valued at approximately $13,435,000. 95.04% of the stock is owned by institutional investors.

GitLab Stock Up 3.3 %

Shares of GitLab stock opened at $65.07 on Wednesday. The company’s 50 day moving average is $61.35 and its 200 day moving average is $54.89. The company has a market cap of $10.56 billion, a price-to-earnings ratio of -203.34 and a beta of 0.57. GitLab Inc. has a twelve month low of $40.72 and a twelve month high of $78.53.

Insider Buying and Selling

In other news, CEO Sytse Sijbrandij sold 84,776 shares of GitLab stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $59.64, for a total value of $5,056,040.64. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Robin Schulman sold 2,996 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $55.98, for a total value of $167,716.08. Following the transaction, the insider now owns 129,223 shares of the company’s stock, valued at $7,233,903.54. This represents a 2.27 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 816,447 shares of company stock valued at $48,948,434. 21.36% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on GTLB. Wells Fargo & Company upped their price objective on GitLab from $75.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Royal Bank of Canada increased their target price on shares of GitLab from $73.00 to $80.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Mizuho boosted their target price on shares of GitLab from $67.00 to $80.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Cantor Fitzgerald increased their price target on GitLab from $75.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Finally, Canaccord Genuity Group increased their target price on shares of GitLab from $65.00 to $78.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Three research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $76.42.

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.