Stifel Financial Corp Sells 2,798 Shares of GitLab Inc. (NASDAQ:GTLB)

Stifel Financial Corp cut its position in shares of GitLab Inc. (NASDAQ:GTLB) by 5.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 48,465 shares of the company’s stock after selling 2,798 shares during the period. Stifel Financial Corp’s holdings in GitLab were worth $2,731,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of GTLB. EverSource Wealth Advisors LLC increased its holdings in GitLab by 5,700.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 522 shares of the company’s stock valued at $29,000 after buying an additional 513 shares during the period. IMG Wealth Management Inc. bought a new position in GitLab during the fourth quarter worth about $46,000. Raleigh Capital Management Inc. acquired a new stake in GitLab during the fourth quarter valued at approximately $66,000. Smartleaf Asset Management LLC grew its stake in shares of GitLab by 1,067.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,261 shares of the company’s stock valued at $71,000 after purchasing an additional 1,153 shares during the period. Finally, Steward Partners Investment Advisory LLC raised its holdings in shares of GitLab by 4,273.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,312 shares of the company’s stock worth $74,000 after buying an additional 1,282 shares in the last quarter. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at GitLab

In other news, Director Matthew Jacobson sold 152,884 shares of GitLab stock in a transaction on Monday, March 24th. The shares were sold at an average price of $52.34, for a total transaction of $8,001,948.56. Following the transaction, the director now directly owns 493,554 shares of the company’s stock, valued at $25,832,616.36. This trade represents a 23.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Brian G. Robins sold 10,000 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $70.83, for a total transaction of $708,300.00. Following the completion of the sale, the chief financial officer now owns 267,380 shares of the company’s stock, valued at approximately $18,938,525.40. This represents a 3.61 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, 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 Performance

Shares of GitLab stock opened at $46.55 on Friday. GitLab Inc. has a 52 week low of $37.90 and a 52 week high of $74.18. The stock has a market capitalization of $7.56 billion, a price-to-earnings ratio of -145.47 and a beta of 0.79. The firm has a fifty day moving average of $48.80 and a two-hundred day moving average of $57.61.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on GTLB. JPMorgan Chase & Co. decreased their price target on GitLab from $65.00 to $62.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. Mizuho dropped their target price on shares of GitLab from $80.00 to $72.00 and set an “outperform” rating for the company in a research report on Tuesday, March 4th. Robert W. Baird cut their price target on shares of GitLab from $80.00 to $76.00 and set an “outperform” rating for the company in a report on Monday, March 3rd. Macquarie reaffirmed an “outperform” rating and set a $90.00 price objective on shares of GitLab in a research note on Tuesday, March 4th. Finally, Barclays cut their target price on shares of GitLab from $70.00 to $58.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 4th. Three analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $71.73.

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.