GitLab Inc. (NASDAQ:GTLB) Shares Bought by Evoke Wealth LLC

Evoke Wealth LLC raised its position in GitLab Inc. (NASDAQ:GTLB) by 12.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 9,432 shares of the company’s stock after acquiring an additional 1,043 shares during the period. Evoke Wealth LLC’s holdings in GitLab were worth $531,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. ARK Investment Management LLC lifted its stake in shares of GitLab by 345.2% in the fourth quarter. ARK Investment Management LLC now owns 1,160,502 shares of the company’s stock valued at $65,394,000 after purchasing an additional 899,823 shares during the period. Amundi lifted its stake in shares of GitLab by 613.0% in the fourth quarter. Amundi now owns 616,806 shares of the company’s stock valued at $38,020,000 after purchasing an additional 530,297 shares during the period. Atreides Management LP acquired a new stake in shares of GitLab in the third quarter valued at about $25,605,000. Los Angeles Capital Management LLC lifted its stake in shares of GitLab by 67.7% in the fourth quarter. Los Angeles Capital Management LLC now owns 1,003,010 shares of the company’s stock valued at $56,520,000 after purchasing an additional 404,895 shares during the period. Finally, Thrivent Financial for Lutherans lifted its stake in shares of GitLab by 128.8% in the third quarter. Thrivent Financial for Lutherans now owns 554,455 shares of the company’s stock valued at $28,577,000 after purchasing an additional 312,119 shares during the period. Institutional investors and hedge funds own 95.04% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Wells Fargo & Company raised their price objective on shares of GitLab from $80.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. JPMorgan Chase & Co. reduced their price objective on shares of GitLab from $65.00 to $62.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. Cantor Fitzgerald restated an “overweight” rating and set a $80.00 target price on shares of GitLab in a report on Tuesday, March 4th. Mizuho dropped their target price on shares of GitLab from $80.00 to $72.00 and set an “outperform” rating for the company in a report on Tuesday, March 4th. Finally, KeyCorp raised their target price on shares of GitLab from $74.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Three analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $75.38.

GitLab Stock Performance

GTLB opened at $49.89 on Wednesday. The company’s 50 day simple moving average is $63.36 and its 200 day simple moving average is $59.29. GitLab Inc. has a 1 year low of $40.72 and a 1 year high of $74.18. The stock has a market capitalization of $8.10 billion, a PE ratio of -155.91 and a beta of 0.67.

Insider Buying and Selling

In other GitLab news, 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 of the company’s stock, valued at $18,938,525.40. The trade was a 3.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Karen Blasing sold 6,500 shares of GitLab stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $63.19, for a total transaction of $410,735.00. Following the transaction, the director now directly owns 128,233 shares in the company, valued at approximately $8,103,043.27. This trade represents a 4.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 727,007 shares of company stock valued at $43,843,249. Insiders own 21.36% of the company’s stock.

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.