Wilmington Savings Fund Society FSB Raises Stock Holdings in GitLab Inc. (NASDAQ:GTLB)

Wilmington Savings Fund Society FSB lifted its holdings in shares of GitLab Inc. (NASDAQ:GTLB) by 7.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,050 shares of the company’s stock after purchasing an additional 150 shares during the quarter. Wilmington Savings Fund Society FSB’s holdings in GitLab were worth $116,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Y Intercept Hong Kong Ltd purchased a new stake in GitLab in the third quarter worth approximately $678,000. State Street Corp boosted its stake in GitLab by 5.8% in the third quarter. State Street Corp now owns 2,032,206 shares of the company’s stock worth $104,740,000 after buying an additional 111,997 shares in the last quarter. Barclays PLC boosted its stake in GitLab by 189.1% in the third quarter. Barclays PLC now owns 61,419 shares of the company’s stock worth $3,164,000 after buying an additional 40,171 shares in the last quarter. Oddo BHF Asset Management Sas purchased a new stake in GitLab in the third quarter worth approximately $6,865,000. Finally, Barton Investment Management boosted its stake in GitLab by 99.4% in the fourth quarter. Barton Investment Management now owns 335,648 shares of the company’s stock worth $18,914,000 after buying an additional 167,290 shares in the last quarter. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Brian G. Robins sold 10,000 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $70.83, for a total value of $708,300.00. Following the sale, the chief financial officer now directly owns 267,380 shares of the company’s stock, valued at approximately $18,938,525.40. This represents a 3.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Robin Schulman sold 2,996 shares of the stock in a transaction on Friday, December 20th. The stock was sold at an average price of $55.98, for a total value of $167,716.08. Following the completion of the sale, the insider now directly owns 129,223 shares in the company, valued at approximately $7,233,903.54. This represents a 2.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 825,033 shares of company stock worth $49,766,908. 21.36% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on GTLB shares. JPMorgan Chase & Co. upped their target price on GitLab from $60.00 to $65.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Robert W. Baird upped their target price on GitLab from $62.00 to $75.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Truist Financial reiterated a “buy” rating and issued a $90.00 price objective (up previously from $80.00) on shares of GitLab in a research report on Friday, December 6th. TD Cowen boosted their price objective on GitLab from $63.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Finally, Scotiabank boosted their price objective on GitLab from $65.00 to $75.00 and gave the company a “sector outperform” rating in a research report on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $76.42.

GitLab Trading Up 1.1 %

GTLB opened at $70.56 on Friday. The stock has a fifty day simple moving average of $63.36 and a two-hundred day simple moving average of $56.86. The company has a market cap of $11.45 billion, a price-to-earnings ratio of -220.50 and a beta of 0.63. GitLab Inc. has a 12-month low of $40.72 and a 12-month high of $76.58.

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.