Captrust Financial Advisors Purchases 4,015 Shares of GitLab Inc. (NASDAQ:GTLB)

Captrust Financial Advisors increased its holdings in shares of GitLab Inc. (NASDAQ:GTLB) by 28.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,215 shares of the company’s stock after acquiring an additional 4,015 shares during the period. Captrust Financial Advisors’ holdings in GitLab were worth $1,026,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of GTLB. Barclays PLC boosted its stake in GitLab by 189.1% in the third quarter. Barclays PLC now owns 61,419 shares of the company’s stock worth $3,164,000 after purchasing an additional 40,171 shares in the last quarter. Swiss National Bank lifted its position in GitLab by 3.7% during the 4th quarter. Swiss National Bank now owns 215,000 shares of the company’s stock worth $12,115,000 after buying an additional 7,700 shares in the last quarter. Barton Investment Management lifted its position in GitLab by 99.4% during the 4th quarter. Barton Investment Management now owns 335,648 shares of the company’s stock worth $18,914,000 after buying an additional 167,290 shares in the last quarter. Jackson Square Capital LLC grew its holdings in GitLab by 328.1% during the 4th quarter. Jackson Square Capital LLC now owns 36,600 shares of the company’s stock worth $2,062,000 after acquiring an additional 28,050 shares during the last quarter. Finally, Smith Group Asset Management LLC increased its position in GitLab by 70.9% in the 4th quarter. Smith Group Asset Management LLC now owns 17,020 shares of the company’s stock valued at $959,000 after acquiring an additional 7,060 shares in the last quarter. 95.04% of the stock is currently owned by institutional investors.

GitLab Trading Down 3.0%

GTLB stock opened at $51.81 on Friday. GitLab Inc. has a 1-year low of $37.90 and a 1-year high of $74.18. The firm has a market cap of $8.41 billion, a PE ratio of -161.91 and a beta of 0.79. The business’s 50-day moving average price is $47.21 and its two-hundred day moving average price is $57.29.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on GTLB shares. Morgan Stanley reduced their target price on shares of GitLab from $77.00 to $53.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. Needham & Company LLC reaffirmed a “buy” rating and set a $85.00 price objective on shares of GitLab in a report on Tuesday, March 4th. Cantor Fitzgerald reissued an “overweight” rating and issued a $80.00 target price on shares of GitLab in a research note on Tuesday, March 4th. Mizuho dropped their target price on GitLab from $80.00 to $72.00 and set an “outperform” rating for the company in a research report on Tuesday, March 4th. Finally, KeyCorp decreased their price target on GitLab from $80.00 to $60.00 and set an “overweight” rating on the stock in a report on Thursday, April 17th. Three research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, GitLab has a consensus rating of “Moderate Buy” and a consensus target price of $71.73.

Insider Activity

In other GitLab news, Director Karen Blasing sold 3,250 shares of the stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $45.00, for a total transaction of $146,250.00. Following the completion of the transaction, the director now owns 111,983 shares in the company, valued at approximately $5,039,235. This represents a 2.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Sytse Sijbrandij sold 108,600 shares of GitLab stock in a transaction dated 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 have sold 461,584 shares of company stock worth $23,192,574 in the last 90 days. Corporate insiders own 16.37% 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.