Blair William & Co. IL Has $3.09 Million Holdings in GitLab Inc. (NASDAQ:GTLB)

Blair William & Co. IL increased its stake in shares of GitLab Inc. (NASDAQ:GTLB) by 5.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 54,774 shares of the company’s stock after buying an additional 2,980 shares during the quarter. Blair William & Co. IL’s holdings in GitLab were worth $3,087,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. M&T Bank Corp boosted its stake in shares of GitLab by 3.1% in the 4th quarter. M&T Bank Corp now owns 4,965 shares of the company’s stock valued at $280,000 after purchasing an additional 148 shares in the last quarter. Wilmington Savings Fund Society FSB boosted its position in GitLab by 7.9% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 2,050 shares of the company’s stock valued at $116,000 after buying an additional 150 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in GitLab by 0.3% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 91,445 shares of the company’s stock worth $4,713,000 after buying an additional 281 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of GitLab by 17.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,263 shares of the company’s stock worth $128,000 after buying an additional 328 shares in the last quarter. Finally, Glenmede Trust Co. NA raised its stake in shares of GitLab by 3.0% in the third quarter. Glenmede Trust Co. NA now owns 11,564 shares of the company’s stock valued at $596,000 after acquiring an additional 334 shares during the last quarter. Institutional investors and hedge funds own 95.04% of the company’s stock.

GitLab Stock Performance

Shares of GTLB opened at $47.00 on Tuesday. The firm has a market cap of $7.63 billion, a P/E ratio of -146.88 and a beta of 0.67. GitLab Inc. has a twelve month low of $40.72 and a twelve month high of $74.18. The firm’s 50 day moving average price is $61.38 and its two-hundred day moving average price is $59.16.

Wall Street Analysts Forecast Growth

GTLB has been the topic of several research analyst reports. Piper Sandler increased their target price on GitLab from $75.00 to $85.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $80.00 price objective on shares of GitLab in a research report on Tuesday, March 4th. Scotiabank boosted their target price on GitLab from $65.00 to $75.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, December 4th. Wells Fargo & Company raised their price target on GitLab from $80.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. Finally, Mizuho dropped their price objective on GitLab from $80.00 to $72.00 and set an “outperform” rating for the company in a report on Tuesday, March 4th. Three analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, GitLab currently has an average rating of “Moderate Buy” and an average target price of $75.09.

Insiders Place Their Bets

In related news, CFO Brian G. Robins sold 10,000 shares of GitLab stock in a transaction that occurred 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 owns 267,380 shares of the company’s stock, valued at approximately $18,938,525.40. This trade represents a 3.61 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Matthew Jacobson sold 152,884 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $52.34, for a total value of $8,001,948.56. Following the transaction, the director now directly owns 493,554 shares of the company’s stock, valued at approximately $25,832,616.36. This trade represents a 23.65 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 329,216 shares of company stock worth $18,716,292. Corporate insiders own 21.36% of the company’s stock.

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.