Savant Capital LLC Decreases Stake in GitLab Inc. (NASDAQ:GTLB)

Savant Capital LLC decreased its holdings in GitLab Inc. (NASDAQ:GTLB) by 7.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 42,487 shares of the company’s stock after selling 3,357 shares during the quarter. Savant Capital LLC’s holdings in GitLab were worth $2,394,000 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. Sanctuary Advisors LLC acquired a new position in shares of GitLab during the 2nd quarter worth $199,000. SG Americas Securities LLC acquired a new position in GitLab during the third quarter worth about $119,000. Creative Planning purchased a new position in GitLab in the third quarter valued at about $208,000. Renaissance Capital LLC lifted its position in shares of GitLab by 20.0% during the 3rd quarter. Renaissance Capital LLC now owns 127,788 shares of the company’s stock valued at $6,586,000 after acquiring an additional 21,337 shares during the period. Finally, Claro Advisors LLC purchased a new stake in shares of GitLab during the 3rd quarter worth approximately $304,000. Institutional investors and hedge funds own 95.04% of the company’s stock.

Insider Transactions at GitLab

In related news, insider Robin Schulman sold 2,996 shares of the stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $55.98, for a total transaction of $167,716.08. Following the completion of the sale, the insider now owns 129,223 shares of the company’s stock, valued at approximately $7,233,903.54. This represents a 2.27 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brian G. Robins sold 10,000 shares of GitLab stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $70.83, for a total transaction of $708,300.00. Following the transaction, the chief financial officer now directly owns 267,380 shares in the company, valued at approximately $18,938,525.40. This trade represents a 3.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 828,283 shares of company stock worth $49,959,990 in the last three months. 21.36% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on GTLB shares. Robert W. Baird lifted their price objective on GitLab from $62.00 to $75.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Piper Sandler lifted their price target on GitLab from $75.00 to $85.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Needham & Company LLC reiterated a “buy” rating and issued a $85.00 price objective on shares of GitLab in a research report on Tuesday, January 7th. Canaccord Genuity Group raised their target price on shares of GitLab from $65.00 to $78.00 and gave the company a “buy” rating in a report on Friday, December 6th. Finally, Mizuho upped their price target on shares of GitLab from $67.00 to $80.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Three equities research analysts have rated the stock with a hold rating, twenty-three have issued 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 a consensus target price of $76.42.

GitLab Trading Up 1.9 %

Shares of GTLB opened at $69.79 on Thursday. GitLab Inc. has a twelve month low of $40.72 and a twelve month high of $76.58. The firm has a market capitalization of $11.33 billion, a P/E ratio of -218.09 and a beta of 0.63. The stock’s fifty day simple moving average is $63.30 and its 200 day simple moving average is $56.77.

About GitLab

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.