Integrated Wealth Concepts LLC Has $216,000 Stake in GitLab Inc. (NASDAQ:GTLB)

Integrated Wealth Concepts LLC reduced its position in shares of GitLab Inc. (NASDAQ:GTLB) by 21.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,195 shares of the company’s stock after selling 1,145 shares during the period. Integrated Wealth Concepts LLC’s holdings in GitLab were worth $216,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Fiera Capital Corp increased its position in GitLab by 1.4% during the 3rd quarter. Fiera Capital Corp now owns 1,259,429 shares of the company’s stock worth $64,911,000 after buying an additional 16,961 shares during the period. Bamco Inc. NY increased its position in GitLab by 0.4% during the third quarter. Bamco Inc. NY now owns 1,253,244 shares of the company’s stock worth $64,592,000 after acquiring an additional 4,874 shares during the period. Renaissance Technologies LLC increased its position in GitLab by 168.8% during the second quarter. Renaissance Technologies LLC now owns 1,190,582 shares of the company’s stock worth $59,196,000 after acquiring an additional 747,712 shares during the period. Primecap Management Co. CA raised its stake in GitLab by 269.5% in the 2nd quarter. Primecap Management Co. CA now owns 827,040 shares of the company’s stock worth $41,120,000 after purchasing an additional 603,200 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in GitLab by 8.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 751,415 shares of the company’s stock valued at $38,728,000 after purchasing an additional 57,381 shares during the period. 95.04% of the stock is owned by institutional investors and hedge funds.

Insider Activity at GitLab

In other news, CAO Erin Mannix sold 1,433 shares of GitLab stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $52.80, for a total value of $75,662.40. Following the completion of the sale, the chief accounting officer now owns 72,448 shares in the company, valued at $3,825,254.40. The trade was a 1.94 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Brian G. Robins sold 10,000 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $67.59, for a total transaction of $675,900.00. Following the transaction, the chief financial officer now directly owns 242,803 shares in the company, valued at approximately $16,411,054.77. This represents a 3.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 178,365 shares of company stock worth $10,350,684 over the last quarter. Company insiders own 21.36% of the company’s stock.

GitLab Stock Performance

NASDAQ:GTLB opened at $58.60 on Friday. GitLab Inc. has a 52 week low of $40.72 and a 52 week high of $78.53. The firm’s fifty day moving average is $58.91 and its 200-day moving average is $52.43. The firm has a market cap of $9.41 billion, a P/E ratio of -183.13 and a beta of 0.54.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Macquarie assumed coverage on shares of GitLab in a research report on Thursday. They issued an “outperform” rating and a $90.00 price target for the company. JPMorgan Chase & Co. lifted their price objective on GitLab from $60.00 to $65.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Baird R W upgraded GitLab to a “strong-buy” rating in a research report on Tuesday, August 27th. Mizuho raised their price target on GitLab from $67.00 to $80.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Finally, Robert W. Baird upped their price objective on shares of GitLab from $62.00 to $75.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Three investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, GitLab presently has a consensus rating of “Moderate Buy” and a consensus target price of $76.42.

GitLab 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.