Edmond DE Rothschild Holding S.A. Boosts Position in GitLab Inc. (NASDAQ:GTLB)

Edmond DE Rothschild Holding S.A. raised its stake in GitLab Inc. (NASDAQ:GTLB) by 1,207.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,502 shares of the company’s stock after purchasing an additional 20,781 shares during the period. Edmond DE Rothschild Holding S.A.’s holdings in GitLab were worth $1,268,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC grew its position 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 valued at $29,000 after buying an additional 513 shares during the last quarter. IMG Wealth Management Inc. acquired a new position in GitLab in the fourth quarter valued at $46,000. Raleigh Capital Management Inc. purchased a new position in shares of GitLab during the fourth quarter worth about $66,000. Smartleaf Asset Management LLC increased its position in shares of GitLab by 1,067.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,261 shares of the company’s stock worth $71,000 after purchasing an additional 1,153 shares in 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 valued at $74,000 after purchasing an additional 1,282 shares during the last quarter. Institutional investors and hedge funds own 95.04% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on GTLB. DA Davidson cut their price target on GitLab from $70.00 to $60.00 and set a “neutral” rating on the stock in a research report on Friday, February 28th. KeyCorp boosted their price target on GitLab from $74.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $80.00 price objective on shares of GitLab in a research note on Tuesday, March 4th. Wells Fargo & Company lifted their target price on GitLab from $80.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. Finally, Morgan Stanley upped their price target on GitLab from $70.00 to $77.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Three analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $75.09.

Insiders Place Their Bets

In other GitLab news, Director Matthew Jacobson sold 152,884 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $52.34, for a total transaction of $8,001,948.56. Following the sale, the director now owns 493,554 shares in the company, valued at approximately $25,832,616.36. This represents a 23.65 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Susan L. Bostrom sold 40,000 shares of the business’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $51.88, for a total value of $2,075,200.00. Following the completion of the transaction, the director now directly owns 144,913 shares of the company’s stock, valued at approximately $7,518,086.44. This trade represents a 21.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 329,216 shares of company stock worth $18,716,292. Insiders own 21.36% of the company’s stock.

GitLab Stock Up 1.4 %

GitLab stock opened at $47.65 on Wednesday. The firm has a market capitalization of $7.73 billion, a PE ratio of -148.91 and a beta of 0.67. GitLab Inc. has a 52 week low of $40.72 and a 52 week high of $74.18. The firm’s 50-day simple moving average is $61.03 and its 200 day simple moving average is $59.11.

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.