Blair William & Co. IL Has $3.09 Million Holdings in GitLab Inc. (NASDAQ:GTLB)

Blair William & Co. IL boosted its position in GitLab Inc. (NASDAQ:GTLB) by 5.8% in the 4th quarter, HoldingsChannel reports. The firm owned 54,774 shares of the company’s stock after acquiring an additional 2,980 shares during the period. Blair William & Co. IL’s holdings in GitLab were worth $3,087,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in GTLB. Vanguard Group Inc. raised its stake in GitLab by 7.2% in the 4th quarter. Vanguard Group Inc. now owns 13,142,592 shares of the company’s stock valued at $740,585,000 after acquiring an additional 885,955 shares during the period. Artisan Partners Limited Partnership lifted its stake in shares of GitLab by 55.7% during the 4th quarter. Artisan Partners Limited Partnership now owns 4,034,041 shares of the company’s stock worth $227,318,000 after buying an additional 1,443,160 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of GitLab by 0.8% during the 3rd quarter. Franklin Resources Inc. now owns 2,670,072 shares of the company’s stock worth $146,774,000 after buying an additional 21,976 shares during the period. State Street Corp boosted its holdings in shares of GitLab by 5.8% during the third quarter. State Street Corp now owns 2,032,206 shares of the company’s stock worth $104,740,000 after acquiring an additional 111,997 shares during the period. Finally, Geode Capital Management LLC grew its holdings in GitLab by 7.0% in the 3rd quarter. Geode Capital Management LLC now owns 2,026,567 shares of the company’s stock valued at $104,476,000 after buying an additional 132,548 shares in the last quarter. 95.04% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Robin Schulman sold 7,330 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $56.98, for a total value of $417,663.40. Following the sale, the insider now directly owns 121,893 shares of the company’s stock, valued at approximately $6,945,463.14. This represents a 5.67 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Matthew Jacobson sold 152,884 shares of GitLab stock in a transaction on Monday, March 24th. The stock was sold at an average price of $52.34, for a total transaction of $8,001,948.56. Following the transaction, the director now directly owns 493,554 shares of the company’s stock, valued at $25,832,616.36. This represents a 23.65 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 329,216 shares of company stock valued at $18,716,292 in the last ninety days. 21.36% of the stock is currently owned by insiders.

GitLab Trading Down 2.9 %

NASDAQ:GTLB opened at $47.00 on Tuesday. The stock’s 50-day moving average is $61.38 and its 200-day moving average is $59.16. GitLab Inc. has a 1-year low of $40.72 and a 1-year high of $74.18. The stock has a market cap of $7.63 billion, a P/E ratio of -146.88 and a beta of 0.67.

Analyst Ratings Changes

A number of research firms have issued reports on GTLB. DA Davidson cut their price objective on shares of GitLab from $70.00 to $60.00 and set a “neutral” rating for the company in a report on Friday, February 28th. Piper Sandler boosted their price target on GitLab from $75.00 to $85.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. JPMorgan Chase & Co. lowered their price objective on GitLab from $65.00 to $62.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. Macquarie reiterated an “outperform” rating and set a $90.00 target price on shares of GitLab in a research report on Tuesday, March 4th. Finally, Truist Financial decreased their price target on GitLab from $90.00 to $80.00 and set a “buy” rating on the stock in a research report on Monday. Three equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, GitLab has a consensus rating of “Moderate Buy” and an average price target of $75.09.

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.