Mercer Global Advisors Inc. ADV Has $440,000 Stock Holdings in GitLab Inc. (NASDAQ:GTLB)

Mercer Global Advisors Inc. ADV boosted its position in GitLab Inc. (NASDAQ:GTLB) by 89.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 7,800 shares of the company’s stock after purchasing an additional 3,686 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in GitLab were worth $440,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. EverSource Wealth Advisors LLC lifted its position in GitLab by 5,700.0% during the fourth 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 stake in GitLab during the 4th quarter worth approximately $46,000. Raleigh Capital Management Inc. acquired a new position in GitLab in the 4th quarter valued at $66,000. Smartleaf Asset Management LLC increased its position in GitLab by 1,067.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,261 shares of the company’s stock worth $71,000 after buying an additional 1,153 shares during the period. Finally, Steward Partners Investment Advisory LLC lifted its holdings in shares of GitLab by 4,273.3% during the fourth 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. Institutional investors own 95.04% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Barclays lowered their price target on shares of GitLab from $70.00 to $58.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 4th. Truist Financial dropped their price target on shares of GitLab from $90.00 to $80.00 and set a “buy” rating for the company in a research report on Monday, March 31st. JPMorgan Chase & Co. cut their price target on GitLab from $65.00 to $62.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. KeyCorp lowered their price objective on GitLab from $80.00 to $60.00 and set an “overweight” rating on the stock in a research note on Thursday, April 17th. Finally, Wells Fargo & Company cut their target price on GitLab from $85.00 to $65.00 and set an “overweight” rating for the company in a research report on Tuesday, April 22nd. Three analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, GitLab currently has an average rating of “Moderate Buy” and a consensus target price of $71.73.

GitLab Trading Up 2.5%

GitLab stock opened at $53.36 on Wednesday. The stock has a 50-day moving average price of $47.25 and a two-hundred day moving average price of $57.33. GitLab Inc. has a 12 month low of $37.90 and a 12 month high of $74.18. The company has a market capitalization of $8.66 billion, a PE ratio of -166.75 and a beta of 0.79.

Insider Activity

In related news, insider Sytse Sijbrandij sold 108,600 shares of GitLab stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $42.87, for a total transaction of $4,655,682.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Karen Blasing sold 3,250 shares of the company’s stock in a transaction that occurred on Wednesday, April 23rd. The shares were 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 of the company’s stock, valued at approximately $5,039,235. This trade represents a 2.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 304,734 shares of company stock valued at $14,879,081 over the last quarter. 16.37% of the stock is owned by company insiders.

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.