CoreCap Advisors LLC Raises Stake in GitLab Inc. (NASDAQ:GTLB)

CoreCap Advisors LLC boosted its holdings in shares of GitLab Inc. (NASDAQ:GTLB) by 327.5% during the 4th quarter, HoldingsChannel reports. The firm owned 590 shares of the company’s stock after purchasing an additional 452 shares during the period. CoreCap Advisors LLC’s holdings in GitLab were worth $33,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Cetera Investment Advisers lifted its stake in shares of GitLab by 76.4% in the 4th quarter. Cetera Investment Advisers now owns 38,787 shares of the company’s stock worth $2,186,000 after acquiring an additional 16,796 shares during the period. Captrust Financial Advisors lifted its stake in shares of GitLab by 28.3% in the 4th quarter. Captrust Financial Advisors now owns 18,215 shares of the company’s stock worth $1,026,000 after acquiring an additional 4,015 shares during the period. Bamco Inc. NY lifted its stake in shares of GitLab by 3.4% in the 4th quarter. Bamco Inc. NY now owns 1,295,541 shares of the company’s stock worth $73,004,000 after acquiring an additional 42,297 shares during the period. Bank of America Corp DE lifted its stake in shares of GitLab by 78.1% in the 4th quarter. Bank of America Corp DE now owns 1,423,487 shares of the company’s stock worth $80,213,000 after acquiring an additional 624,235 shares during the period. Finally, Benjamin Edwards Inc. acquired a new stake in shares of GitLab in the 4th quarter worth $541,000. 95.04% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on GTLB. Wells Fargo & Company reduced their target price on shares of GitLab from $85.00 to $65.00 and set an “overweight” rating for the company in a research note on Tuesday, April 22nd. Needham & Company LLC restated a “buy” rating and issued a $85.00 target price on shares of GitLab in a research note on Tuesday, March 4th. Macquarie reiterated an “outperform” rating and issued a $90.00 price objective on shares of GitLab in a research note on Tuesday, March 4th. Robert W. Baird reduced 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. Finally, KeyCorp reduced their price objective on shares of GitLab from $80.00 to $60.00 and set an “overweight” rating for the company in a research note on Thursday, April 17th. Three research 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 company’s stock. Based on data from MarketBeat, GitLab currently has a consensus rating of “Moderate Buy” and an average price target of $71.73.

Insider Buying and Selling at GitLab

In other news, Director Susan L. Bostrom sold 40,000 shares of GitLab stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $51.88, for a total transaction of $2,075,200.00. Following the completion of the sale, the director now directly owns 144,913 shares in the company, valued at $7,518,086.44. The trade was a 21.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Matthew Jacobson sold 152,884 shares of GitLab stock in a transaction dated 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 of the company’s stock, valued at approximately $25,832,616.36. This trade represents a 23.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 304,734 shares of company stock worth $14,879,081. 16.37% of the stock is owned by corporate insiders.

GitLab Trading Up 0.1%

NASDAQ:GTLB opened at $53.43 on Thursday. The firm has a 50-day moving average price of $47.20 and a two-hundred day moving average price of $57.30. GitLab Inc. has a twelve month low of $37.90 and a twelve month high of $74.18. The company has a market capitalization of $8.67 billion, a P/E ratio of -166.97 and a beta of 0.79.

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.