Strengthening Families & Communities LLC Sells 2,443 Shares of GitLab Inc. (NASDAQ:GTLB)

Strengthening Families & Communities LLC reduced its position in shares of GitLab Inc. (NASDAQ:GTLB) by 8.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 27,841 shares of the company’s stock after selling 2,443 shares during the quarter. Strengthening Families & Communities LLC’s holdings in GitLab were worth $1,569,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in GTLB. Sanctuary Advisors LLC bought a new position in shares of GitLab in the 2nd quarter worth $199,000. SG Americas Securities LLC acquired a new position in GitLab in the third quarter valued at about $119,000. Park Avenue Securities LLC boosted its holdings in GitLab by 21.6% during the third quarter. Park Avenue Securities LLC now owns 4,995 shares of the company’s stock worth $257,000 after buying an additional 887 shares during the last quarter. CWM LLC grew its position in shares of GitLab by 40.9% during the 3rd quarter. CWM LLC now owns 65,523 shares of the company’s stock worth $3,377,000 after buying an additional 19,022 shares during the period. Finally, Creative Planning bought a new stake in shares of GitLab in the 3rd quarter valued at about $208,000. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other GitLab news, Director Karen Blasing sold 3,250 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $59.41, for a total value of $193,082.50. Following the sale, the director now owns 137,983 shares in the company, valued at $8,197,570.03. This represents a 2.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Sytse Sijbrandij sold 84,776 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $59.64, for a total value of $5,056,040.64. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 828,283 shares of company stock valued at $49,959,990. 21.36% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on GTLB shares. Scotiabank lifted their price objective on shares of GitLab from $65.00 to $75.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, December 4th. Robert W. Baird lifted their price target 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. Barclays upped their price objective on shares of GitLab from $55.00 to $70.00 and gave the company an “equal weight” rating in a research report on Monday, December 9th. Piper Sandler boosted their target price on GitLab from $75.00 to $85.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Finally, TD Cowen increased their price target on GitLab from $63.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Three investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, GitLab presently has an average rating of “Moderate Buy” and an average target price of $76.42.

GitLab Stock Up 1.0 %

NASDAQ GTLB opened at $71.28 on Tuesday. The firm’s fifty day moving average price is $63.04 and its two-hundred day moving average price is $56.53. GitLab Inc. has a 1 year low of $40.72 and a 1 year high of $76.69.

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.