Blue Trust Inc. Has $287,000 Stock Holdings in GitLab Inc. (NASDAQ:GTLB)

Blue Trust Inc. raised its holdings in GitLab Inc. (NASDAQ:GTLB) by 60.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,095 shares of the company’s stock after purchasing an additional 1,929 shares during the quarter. Blue Trust Inc.’s holdings in GitLab were worth $287,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. Franklin Resources Inc. boosted its holdings in shares of GitLab by 0.8% in the 3rd quarter. Franklin Resources Inc. now owns 2,670,072 shares of the company’s stock valued at $146,774,000 after purchasing an additional 21,976 shares in the last quarter. State Street Corp boosted its holdings in shares of GitLab by 5.8% in the 3rd quarter. State Street Corp now owns 2,032,206 shares of the company’s stock valued at $104,740,000 after purchasing an additional 111,997 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of GitLab by 7.0% in the 3rd quarter. Geode Capital Management LLC now owns 2,026,567 shares of the company’s stock valued at $104,476,000 after purchasing an additional 132,548 shares in the last quarter. Fiera Capital Corp boosted its holdings in shares of GitLab by 1.4% in the 3rd quarter. Fiera Capital Corp now owns 1,259,429 shares of the company’s stock valued at $64,911,000 after purchasing an additional 16,961 shares in the last quarter. Finally, Bamco Inc. NY boosted its holdings in shares of GitLab by 0.4% during the 3rd quarter. Bamco Inc. NY now owns 1,253,244 shares of the company’s stock valued at $64,592,000 after acquiring an additional 4,874 shares in the last quarter. Institutional investors and hedge funds own 95.04% of the company’s stock.

Insider Activity at GitLab

In related news, CFO Brian G. Robins sold 10,000 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $67.59, for a total value of $675,900.00. Following the completion of the sale, the chief financial officer now directly owns 242,803 shares of the company’s stock, valued at $16,411,054.77. The trade was a 3.96 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Robin Schulman sold 9,251 shares of the business’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $70.00, for a total value of $647,570.00. Following the completion of the sale, the insider now directly owns 121,893 shares of the company’s stock, valued at $8,532,510. The trade was a 7.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 740,257 shares of company stock valued at $44,710,867 in the last three months. Corporate insiders own 21.36% of the company’s stock.

Analyst Ratings Changes

GTLB has been the topic of several recent research reports. Macquarie reissued an “outperform” rating and set a $90.00 price objective on shares of GitLab in a report on Wednesday, January 15th. JPMorgan Chase & Co. raised their price objective on GitLab from $60.00 to $65.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Royal Bank of Canada raised their price objective on GitLab from $73.00 to $80.00 and gave the company an “outperform” rating in a report on Friday, December 6th. KeyCorp raised their price objective on GitLab from $74.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Finally, Barclays raised their price objective on GitLab from $55.00 to $70.00 and gave the company an “equal weight” rating in a report on Monday, December 9th. Three equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $76.42.

GitLab Trading Up 5.5 %

GTLB stock opened at $71.55 on Wednesday. GitLab Inc. has a 1-year low of $40.72 and a 1-year high of $76.41. The firm has a market cap of $11.61 billion, a PE ratio of -223.59 and a beta of 0.63. The stock has a 50-day moving average price of $63.49 and a 200-day moving average price of $57.28.

About GitLab

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.