Thurston Springer Miller Herd & Titak Inc. Buys Shares of 3,988 GitLab Inc. (NASDAQ:GTLB)

Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of GitLab Inc. (NASDAQ:GTLB) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 3,988 shares of the company’s stock, valued at approximately $225,000.

Several other institutional investors and hedge funds also recently made changes to their positions in GTLB. Future Financial Wealth Managment LLC bought a new stake in GitLab during the 3rd quarter valued at $52,000. True Wealth Design LLC bought a new stake in shares of GitLab during the 3rd quarter valued at $56,000. Rakuten Securities Inc. lifted its holdings in 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 purchasing an additional 1,032 shares in the last quarter. Quarry LP boosted its stake in GitLab by 527.0% in the 2nd quarter. Quarry LP now owns 1,787 shares of the company’s stock worth $89,000 after purchasing an additional 1,502 shares during the period. Finally, Capital Performance Advisors LLP bought a new position in GitLab in the 3rd quarter worth about $96,000. Institutional investors own 95.04% of the company’s stock.

Insider Activity

In related news, insider Sytse Sijbrandij sold 84,000 shares of GitLab stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $62.99, for a total value of $5,291,160.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Matthew Jacobson sold 547,679 shares of the stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $59.72, for a total transaction of $32,707,389.88. Following the sale, the director now directly owns 58,471 shares of the company’s stock, valued at $3,491,888.12. The trade was a 90.35 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 816,447 shares of company stock valued at $48,948,434. Insiders own 21.36% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on GTLB shares. Morgan Stanley increased their price target on shares of GitLab from $70.00 to $77.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Truist Financial reiterated a “buy” rating and issued a $90.00 target price (up from $80.00) on shares of GitLab in a research note on Friday, December 6th. KeyCorp boosted their price target on shares of GitLab from $74.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. DA Davidson upped their price target on shares of GitLab from $50.00 to $70.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Finally, Canaccord Genuity Group lifted their price objective on GitLab from $65.00 to $78.00 and gave the company 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 issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, GitLab presently has a consensus rating of “Moderate Buy” and an average price target of $76.42.

GitLab Stock Up 2.0 %

GitLab stock opened at $64.20 on Friday. The firm has a fifty day simple moving average of $61.25 and a two-hundred day simple moving average of $54.71. GitLab Inc. has a twelve month low of $40.72 and a twelve month high of $78.53. The company has a market capitalization of $10.42 billion, a PE ratio of -200.63 and a beta of 0.57.

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.