PDT Partners LLC Takes Position in GitLab Inc. (NASDAQ:GTLB)

PDT Partners LLC acquired a new stake in GitLab Inc. (NASDAQ:GTLB) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 10,586 shares of the company’s stock, valued at approximately $597,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC lifted its position in shares of GitLab by 5,700.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 522 shares of the company’s stock valued at $29,000 after acquiring an additional 513 shares during the period. IMG Wealth Management Inc. purchased a new position in GitLab in the 4th quarter valued at approximately $46,000. Raleigh Capital Management Inc. acquired a new position in GitLab during the fourth quarter worth $66,000. Smartleaf Asset Management LLC boosted its position in GitLab by 1,067.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,261 shares of the company’s stock worth $71,000 after purchasing an additional 1,153 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC grew its holdings in GitLab by 4,273.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,312 shares of the company’s stock valued at $74,000 after purchasing an additional 1,282 shares during the last quarter. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on GTLB shares. KeyCorp cut their price target on GitLab from $80.00 to $60.00 and set an “overweight” rating for the company in a research note on Thursday, April 17th. Macquarie reaffirmed an “outperform” rating and issued a $90.00 price target on shares of GitLab in a report on Tuesday, March 4th. JPMorgan Chase & Co. lowered their price target on shares of GitLab from $65.00 to $62.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 4th. Morgan Stanley cut their price objective on GitLab from $77.00 to $53.00 and set an “overweight” rating for the company in a research report on Wednesday, April 16th. Finally, Truist Financial lowered their target price on GitLab from $90.00 to $80.00 and set a “buy” rating on the stock in a report on Monday, March 31st. Three investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $71.73.

Insider Buying and Selling

In other news, Director Karen Blasing sold 3,250 shares of the stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $45.00, for a total value of $146,250.00. Following the completion of the sale, the director now owns 111,983 shares of the company’s stock, valued at $5,039,235. This represents a 2.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Sytse Sijbrandij sold 108,600 shares of GitLab stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $42.87, for a total transaction of $4,655,682.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 314,734 shares of company stock valued at $15,587,381. 21.36% of the stock is currently owned by company insiders.

GitLab Stock Up 0.6 %

Shares of GTLB opened at $46.96 on Friday. GitLab Inc. has a fifty-two week low of $37.90 and a fifty-two week high of $74.18. The company’s fifty day moving average is $49.08 and its two-hundred day moving average is $57.64. The firm has a market cap of $7.62 billion, a PE ratio of -146.75 and a beta of 0.79.

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.