AMI Asset Management Corp Has $1.64 Million Holdings in GitLab Inc. (NASDAQ:GTLB)

AMI Asset Management Corp decreased its holdings in shares of GitLab Inc. (NASDAQ:GTLB) by 3.2% in the 4th quarter, Holdings Channel reports. The institutional investor owned 29,086 shares of the company’s stock after selling 961 shares during the period. AMI Asset Management Corp’s holdings in GitLab were worth $1,639,000 at the end of the most recent quarter.

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

GitLab Trading Down 1.8 %

GTLB opened at $63.02 on Tuesday. The business’s 50-day simple moving average is $61.30 and its 200 day simple moving average is $54.82. GitLab Inc. has a 52-week low of $40.72 and a 52-week high of $78.53.

Insider Transactions at GitLab

In other news, CEO Sytse Sijbrandij sold 84,776 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were 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 can be accessed through this hyperlink. Also, insider Robin Schulman sold 2,996 shares of GitLab stock in a transaction dated Friday, December 20th. The stock was 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. The trade was a 2.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 816,447 shares of company stock worth $48,948,434 in the last 90 days. Corporate insiders own 21.36% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Wells Fargo & Company upped their price target on GitLab from $75.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Canaccord Genuity Group upped their target price on shares of GitLab from $65.00 to $78.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Barclays lifted their price target 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. Macquarie restated an “outperform” rating and issued a $90.00 price objective on shares of GitLab in a research report on Wednesday, January 15th. Finally, Mizuho lifted their target price on GitLab from $67.00 to $80.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Three equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price 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.