Price T Rowe Associates Inc. MD Has $12.80 Million Stock Position in GitLab Inc. (NASDAQ:GTLB)

Price T Rowe Associates Inc. MD increased its position in GitLab Inc. (NASDAQ:GTLB) by 59.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 227,148 shares of the company’s stock after buying an additional 84,870 shares during the period. Price T Rowe Associates Inc. MD owned 0.14% of GitLab worth $12,801,000 at the end of the most recent reporting period.

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

Insiders Place Their Bets

In other news, Director Susan L. Bostrom sold 40,000 shares of GitLab stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $51.88, for a total value of $2,075,200.00. Following the completion of the transaction, the director now directly owns 144,913 shares in the company, valued at approximately $7,518,086.44. The trade was a 21.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Sytse Sijbrandij sold 108,600 shares of the business’s stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $42.87, for a total value of $4,655,682.00. The disclosure for this sale can be found here. Insiders sold 314,734 shares of company stock worth $15,587,381 over the last quarter. 21.36% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on GTLB. Macquarie reaffirmed an “outperform” rating and issued a $90.00 price target on shares of GitLab in a research report on Tuesday, March 4th. KeyCorp dropped their target price on GitLab from $80.00 to $60.00 and set an “overweight” rating on the stock in a report on Thursday, April 17th. DA Davidson lowered their price target on GitLab from $60.00 to $45.00 and set a “neutral” rating for the company in a research report on Monday, April 14th. Truist Financial cut their price objective on shares of GitLab from $90.00 to $80.00 and set a “buy” rating on the stock in a report on Monday, March 31st. Finally, Wells Fargo & Company lowered their target price on shares of GitLab from $85.00 to $65.00 and set an “overweight” rating for the company in a report on Tuesday, April 22nd. Three research 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 company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $71.73.

GitLab Stock Performance

Shares of GTLB opened at $46.55 on Friday. GitLab Inc. has a fifty-two week low of $37.90 and a fifty-two week high of $74.18. The business has a 50-day moving average of $48.80 and a 200 day moving average of $57.59. The firm has a market cap of $7.56 billion, a P/E ratio of -145.47 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.