Skandinaviska Enskilda Banken AB publ Buys 1,067 Shares of GitLab Inc. (NASDAQ:GTLB)

Skandinaviska Enskilda Banken AB publ grew its stake in GitLab Inc. (NASDAQ:GTLB) by 65.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,689 shares of the company’s stock after purchasing an additional 1,067 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in GitLab were worth $152,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. M&T Bank Corp raised its holdings in GitLab by 3.1% in the 4th quarter. M&T Bank Corp now owns 4,965 shares of the company’s stock worth $280,000 after purchasing an additional 148 shares in the last quarter. Wilmington Savings Fund Society FSB increased its stake in shares of GitLab by 7.9% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 2,050 shares of the company’s stock worth $116,000 after acquiring an additional 150 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of GitLab by 0.3% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 91,445 shares of the company’s stock worth $4,713,000 after acquiring an additional 281 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in shares of GitLab by 17.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,263 shares of the company’s stock worth $128,000 after acquiring an additional 328 shares in the last quarter. Finally, Glenmede Trust Co. NA increased its stake in shares of GitLab by 3.0% in 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 in the last quarter. 95.04% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Robin Schulman sold 2,996 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $55.98, for a total value of $167,716.08. Following the transaction, the insider now owns 129,223 shares of the company’s stock, valued at approximately $7,233,903.54. This trade represents a 2.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Sytse Sijbrandij sold 84,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $62.99, for a total transaction of $5,291,160.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 727,007 shares of company stock valued at $43,843,249. 21.36% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. DA Davidson decreased their price target on shares of GitLab from $70.00 to $60.00 and set a “neutral” rating for the company in a research note on Friday, February 28th. TD Cowen increased their price target on shares of GitLab from $63.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Barclays decreased their price target on shares of GitLab from $70.00 to $58.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 4th. Macquarie reissued an “outperform” rating and set a $90.00 price objective on shares of GitLab in a research report on Tuesday, March 4th. Finally, KeyCorp increased their price objective on shares of GitLab from $74.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Three equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued 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 $75.38.

GitLab Trading Down 3.9 %

GTLB opened at $49.89 on Wednesday. The company has a market cap of $8.10 billion, a price-to-earnings ratio of -155.91 and a beta of 0.67. The company’s 50 day moving average is $63.36 and its 200 day moving average is $59.29. GitLab Inc. has a 12-month low of $40.72 and a 12-month high of $74.18.

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.