Xponance Inc. Grows Position in GitLab Inc. (NASDAQ:GTLB)

Xponance Inc. boosted its holdings in shares of GitLab Inc. (NASDAQ:GTLB) by 8.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,512 shares of the company’s stock after acquiring an additional 1,287 shares during the period. Xponance Inc.’s holdings in GitLab were worth $930,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. EverSource Wealth Advisors LLC boosted its position in shares of GitLab by 5,700.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 522 shares of the company’s stock worth $29,000 after purchasing an additional 513 shares in the last quarter. IMG Wealth Management Inc. bought a new stake in GitLab in the fourth quarter worth $46,000. True Wealth Design LLC bought a new position in shares of GitLab during the third quarter valued at $56,000. Raleigh Capital Management Inc. purchased a new position in shares of GitLab in the 4th quarter worth about $66,000. Finally, Smartleaf Asset Management LLC raised its position in shares of GitLab by 1,067.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,261 shares of the company’s stock worth $71,000 after purchasing an additional 1,153 shares during the last quarter. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on GTLB shares. Macquarie reiterated an “outperform” rating and issued a $90.00 target price on shares of GitLab in a research note on Tuesday, March 4th. Needham & Company LLC restated a “buy” rating and set a $85.00 target price on shares of GitLab in a research note on Tuesday, March 4th. KeyCorp boosted their price objective on shares of GitLab from $74.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Canaccord Genuity Group increased their price objective on shares of GitLab from $65.00 to $78.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Finally, Wells Fargo & Company lifted their target price on shares of GitLab from $80.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. Three equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $75.52.

GitLab Stock Performance

Shares of GTLB stock opened at $52.12 on Tuesday. The stock has a fifty day simple moving average of $62.66 and a two-hundred day simple moving average of $59.31. The firm has a market capitalization of $8.46 billion, a PE ratio of -162.88 and a beta of 0.67. GitLab Inc. has a 52-week low of $40.72 and a 52-week high of $74.18.

Insider Buying and Selling

In related news, CFO Brian G. Robins sold 10,000 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $56.24, for a total transaction of $562,400.00. Following the completion of the transaction, the chief financial officer now owns 267,380 shares in the company, valued at approximately $15,037,451.20. This represents a 3.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Susan L. Bostrom sold 40,000 shares of GitLab stock in a transaction on 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 owns 144,913 shares in the company, valued at approximately $7,518,086.44. This represents a 21.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 744,011 shares of company stock worth $44,546,933. 21.36% of the stock is owned by corporate insiders.

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.