Sanctuary Advisors LLC Acquires 8,242 Shares of GitLab Inc. (NASDAQ:GTLB)

Sanctuary Advisors LLC lifted its holdings in shares of GitLab Inc. (NASDAQ:GTLB) by 205.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,245 shares of the company’s stock after acquiring an additional 8,242 shares during the period. Sanctuary Advisors LLC’s holdings in GitLab were worth $631,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Bank of Marin increased its holdings in GitLab by 3.0% during the 3rd quarter. Bank of Marin now owns 5,856 shares of the company’s stock worth $302,000 after purchasing an additional 171 shares in the last quarter. Moloney Securities Asset Management LLC grew its holdings in GitLab by 4.9% during the second quarter. Moloney Securities Asset Management LLC now owns 6,400 shares of the company’s stock worth $318,000 after buying an additional 300 shares in the last quarter. Glenmede Trust Co. NA grew its holdings in GitLab by 3.0% during the third quarter. Glenmede Trust Co. NA now owns 11,564 shares of the company’s stock worth $596,000 after buying an additional 334 shares in the last quarter. Blue Trust Inc. raised its position in GitLab by 18.2% in the 3rd quarter. Blue Trust Inc. now owns 3,166 shares of the company’s stock valued at $157,000 after buying an additional 488 shares during the last quarter. Finally, Caprock Group LLC lifted its stake in GitLab by 1.9% during the 2nd quarter. Caprock Group LLC now owns 31,272 shares of the company’s stock valued at $1,555,000 after acquiring an additional 586 shares in the last quarter. Institutional investors and hedge funds own 95.04% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on GTLB shares. BTIG Research upped their target price on shares of GitLab from $58.00 to $63.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. DA Davidson upped their price objective on shares of GitLab from $50.00 to $70.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Truist Financial reissued a “buy” rating and set a $90.00 target price (up previously from $80.00) on shares of GitLab in a research report on Friday, December 6th. Needham & Company LLC upped their target price on GitLab from $70.00 to $85.00 and gave the company a “buy” rating in a report on Friday, December 6th. Finally, Royal Bank of Canada lifted their price target on GitLab from $73.00 to $80.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Three 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’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $76.42.

Insider Activity

In other news, Director Karen Blasing sold 3,250 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $58.99, for a total transaction of $191,717.50. Following the completion of the transaction, the director now owns 134,733 shares of the company’s stock, valued at approximately $7,947,899.67. The trade was a 2.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robin Schulman sold 2,996 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $55.98, for a total transaction of $167,716.08. Following the completion of the transaction, the insider now owns 129,223 shares in the company, valued at approximately $7,233,903.54. This trade represents a 2.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 183,178 shares of company stock worth $10,634,456 in the last three months. Corporate insiders own 21.36% of the company’s stock.

GitLab Trading Up 0.7 %

GitLab stock opened at $60.45 on Wednesday. GitLab Inc. has a 1-year low of $40.72 and a 1-year high of $78.53. The firm has a market capitalization of $9.81 billion, a PE ratio of -188.91 and a beta of 0.54. The firm’s 50 day simple moving average is $59.75 and its 200 day simple moving average is $52.97.

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.