3,930 Shares in GitLab Inc. (NASDAQ:GTLB) Purchased by Everence Capital Management Inc.

Everence Capital Management Inc. purchased a new stake in GitLab Inc. (NASDAQ:GTLB) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 3,930 shares of the company’s stock, valued at approximately $221,000.

A number of other hedge funds also recently modified their holdings of the company. Bank of Marin raised its stake in shares of GitLab by 3.0% in the third quarter. Bank of Marin now owns 5,856 shares of the company’s stock valued at $302,000 after purchasing an additional 171 shares in the last quarter. Glenmede Trust Co. NA lifted its holdings in shares of GitLab by 3.0% during the 3rd quarter. Glenmede Trust Co. NA now owns 11,564 shares of the company’s stock worth $596,000 after acquiring an additional 334 shares during the period. Blue Trust Inc. boosted its position in shares of GitLab by 18.2% during the 3rd quarter. Blue Trust Inc. now owns 3,166 shares of the company’s stock valued at $157,000 after acquiring an additional 488 shares in the last quarter. Blair William & Co. IL increased its stake in GitLab by 1.9% in the second quarter. Blair William & Co. IL now owns 42,151 shares of the company’s stock valued at $2,096,000 after acquiring an additional 769 shares during the period. Finally, Park Avenue Securities LLC raised its position in GitLab by 21.6% in the third quarter. Park Avenue Securities LLC now owns 4,995 shares of the company’s stock worth $257,000 after purchasing an additional 887 shares in the last quarter. Institutional investors own 95.04% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. KeyCorp lifted their price objective on GitLab from $74.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Morgan Stanley upped their price target on GitLab from $70.00 to $77.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Piper Sandler lifted their price objective on GitLab from $75.00 to $85.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Royal Bank of Canada boosted their target price on shares of GitLab from $73.00 to $80.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Finally, Wells Fargo & Company increased their target price on shares of GitLab from $75.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. Three equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $76.42.

Insider Transactions at GitLab

In related news, CFO Brian G. Robins sold 10,000 shares of the stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 267,380 shares in the company, valued at $15,037,451.20. This trade represents a 3.61 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Karen Blasing sold 3,250 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $54.72, for a total transaction of $177,840.00. Following the transaction, the director now owns 141,233 shares of the company’s stock, valued at approximately $7,728,269.76. This represents a 2.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 785,197 shares of company stock worth $46,486,459 in the last three months. Insiders own 21.36% of the company’s stock.

GitLab Stock Performance

GTLB opened at $61.64 on Thursday. The company has a fifty day moving average price of $60.79 and a two-hundred day moving average price of $54.17. The firm has a market capitalization of $10.00 billion, a PE ratio of -192.63 and a beta of 0.57. GitLab Inc. has a 52 week low of $40.72 and a 52 week high of $78.53.

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.