GitLab Inc. (NASDAQ:GTLB) Shares Purchased by CoreCap Advisors LLC

CoreCap Advisors LLC lifted its stake in GitLab Inc. (NASDAQ:GTLB) by 327.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 590 shares of the company’s stock after acquiring an additional 452 shares during the quarter. CoreCap Advisors LLC’s holdings in GitLab were worth $33,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. EverSource Wealth Advisors LLC lifted its holdings in shares of GitLab by 5,700.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 522 shares of the company’s stock worth $29,000 after acquiring an additional 513 shares during the last quarter. IMG Wealth Management Inc. acquired a new position in shares of GitLab in the 4th quarter worth approximately $46,000. Raleigh Capital Management Inc. acquired a new position in shares of GitLab in the 4th quarter worth approximately $66,000. Smartleaf Asset Management LLC lifted its holdings 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 worth $71,000 after acquiring an additional 1,153 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC lifted 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 acquiring an additional 1,282 shares during the last quarter. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at GitLab

In other GitLab news, Director Matthew Jacobson sold 152,884 shares of the firm’s 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 approximately $25,832,616.36. This trade represents a 23.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Karen Blasing sold 3,250 shares of the firm’s stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $45.00, for a total transaction of $146,250.00. Following the transaction, the director now directly owns 111,983 shares in the company, valued at $5,039,235. The trade was a 2.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 304,734 shares of company stock valued at $14,879,081 in the last ninety days. Insiders own 16.37% of the company’s stock.

GitLab Price Performance

NASDAQ GTLB opened at $53.43 on Thursday. The firm’s fifty day moving average price is $47.20 and its 200 day moving average price is $57.30. The company has a market capitalization of $8.67 billion, a price-to-earnings ratio of -166.97 and a beta of 0.79. GitLab Inc. has a 12 month low of $37.90 and a 12 month high of $74.18.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on GTLB shares. Mizuho reduced their target price on shares of GitLab from $80.00 to $72.00 and set an “outperform” rating on the stock in a report on Tuesday, March 4th. Cantor Fitzgerald reiterated an “overweight” rating and set a $80.00 target price on shares of GitLab in a report on Tuesday, March 4th. Wells Fargo & Company reduced their target price on shares of GitLab from $85.00 to $65.00 and set an “overweight” rating on the stock in a report on Tuesday, April 22nd. Truist Financial reduced their target price 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, KeyCorp reduced their target price on shares of GitLab from $80.00 to $60.00 and set an “overweight” rating on the stock in a report on Thursday, April 17th. Three analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target 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.