Guggenheim Capital LLC Sells 1,164 Shares of GitLab Inc. (NASDAQ:GTLB)

Guggenheim Capital LLC reduced its position in shares of GitLab Inc. (NASDAQ:GTLB) by 8.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,234 shares of the company’s stock after selling 1,164 shares during the period. Guggenheim Capital LLC’s holdings in GitLab were worth $746,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in GitLab by 7.2% in the 4th quarter. Vanguard Group Inc. now owns 13,142,592 shares of the company’s stock valued at $740,585,000 after acquiring an additional 885,955 shares during the period. Norges Bank bought a new position in GitLab during the 4th quarter worth $279,089,000. Artisan Partners Limited Partnership lifted its stake in shares of GitLab by 55.7% in the fourth quarter. Artisan Partners Limited Partnership now owns 4,034,041 shares of the company’s stock worth $227,318,000 after acquiring an additional 1,443,160 shares during the period. Franklin Resources Inc. lifted its position in shares of GitLab by 17.6% in the 4th quarter. Franklin Resources Inc. now owns 3,140,264 shares of the company’s stock worth $176,954,000 after purchasing an additional 470,192 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of GitLab by 3.2% during the fourth quarter. Geode Capital Management LLC now owns 2,091,780 shares of the company’s stock worth $117,908,000 after buying an additional 65,213 shares during the period. Institutional investors and hedge funds own 95.04% of the company’s stock.

Insider Buying and Selling

In related news, insider Robin Schulman sold 9,251 shares of GitLab stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $70.00, for a total value of $647,570.00. Following the sale, the insider now owns 121,893 shares of the company’s stock, valued at approximately $8,532,510. The trade was a 7.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Brian G. Robins sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $70.83, for a total value of $708,300.00. Following the completion of the transaction, the chief financial officer now owns 267,380 shares in the company, valued at approximately $18,938,525.40. The trade was a 3.61 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 323,985 shares of company stock worth $16,234,951. 21.36% of the stock is owned by company insiders.

GitLab Stock Up 6.4 %

Shares of NASDAQ GTLB opened at $45.67 on Friday. The company has a market capitalization of $7.41 billion, a PE ratio of -142.72 and a beta of 0.79. The stock’s 50 day moving average price is $51.09 and its 200-day moving average price is $57.87. GitLab Inc. has a twelve month low of $37.90 and a twelve month high of $74.18.

Wall Street Analysts Forecast Growth

GTLB has been the topic of a number of research analyst reports. DA Davidson cut their price target on shares of GitLab from $60.00 to $45.00 and set a “neutral” rating on the stock in a research report on Monday, April 14th. Robert W. Baird lowered their price objective on shares of GitLab from $80.00 to $76.00 and set an “outperform” rating for the company in a research note on Monday, March 3rd. Barclays reduced their price target on shares of GitLab from $70.00 to $58.00 and set an “equal weight” rating for the company in a report on Tuesday, March 4th. Morgan Stanley decreased their target price on GitLab from $77.00 to $53.00 and set an “overweight” rating for the company in a research report on Wednesday, April 16th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $80.00 price target on shares of GitLab in a research note on Tuesday, March 4th. Three investment 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. Based on data from MarketBeat.com, GitLab currently has a consensus rating of “Moderate Buy” and an average target price of $71.73.

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.