7,525 Shares in GitLab Inc. (NASDAQ:GTLB) Purchased by Congress Wealth Management LLC DE

Congress Wealth Management LLC DE bought a new stake in shares of GitLab Inc. (NASDAQ:GTLB) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 7,525 shares of the company’s stock, valued at approximately $424,000.

Several other large investors have also modified their holdings of GTLB. EverSource Wealth Advisors LLC increased its holdings in GitLab by 5,700.0% during the fourth 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. purchased a new position in shares of GitLab in the 4th quarter valued at $46,000. True Wealth Design LLC bought a new position in shares of GitLab in the 3rd quarter worth $56,000. Raleigh Capital Management Inc. purchased a new stake in shares of GitLab during the 4th quarter worth $66,000. Finally, Smartleaf Asset Management LLC boosted its position in GitLab by 1,067.6% during the fourth 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 in the last quarter. Institutional investors own 95.04% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on GTLB shares. The Goldman Sachs Group boosted their target price on shares of GitLab from $80.00 to $88.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Piper Sandler boosted their price objective on shares of GitLab from $75.00 to $85.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Canaccord Genuity Group raised their target price on shares of GitLab from $65.00 to $78.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Robert W. Baird reduced their price target on GitLab from $80.00 to $76.00 and set an “outperform” rating on the stock in a research report on Monday, March 3rd. Finally, DA Davidson decreased their price objective on GitLab from $70.00 to $60.00 and set a “neutral” rating for the company in a report on Friday, February 28th. Three investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $75.52.

Insider Transactions at GitLab

In related news, Director Matthew Jacobson sold 152,884 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $52.34, for a total value of $8,001,948.56. Following the transaction, the director now directly owns 493,554 shares in the company, valued at approximately $25,832,616.36. This represents a 23.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Brian G. Robins sold 10,000 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $56.24, for a total value of $562,400.00. Following the completion of the transaction, the chief financial officer now directly owns 267,380 shares in the company, valued at approximately $15,037,451.20. This trade represents a 3.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 349,216 shares of company stock worth $19,841,492 in the last quarter. Company insiders own 21.36% of the company’s stock.

GitLab Trading Down 3.6 %

GTLB opened at $48.38 on Friday. GitLab Inc. has a twelve month low of $40.72 and a twelve month high of $74.18. The firm has a market capitalization of $7.85 billion, a PE ratio of -151.19 and a beta of 0.67. The firm’s 50-day moving average price is $61.70 and its 200 day moving average price is $59.16.

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.