Edmond DE Rothschild Holding S.A. Raises Position in GitLab Inc. (NASDAQ:GTLB)

Edmond DE Rothschild Holding S.A. boosted its position in shares of GitLab Inc. (NASDAQ:GTLB) by 1,207.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,502 shares of the company’s stock after buying an additional 20,781 shares during the period. Edmond DE Rothschild Holding S.A.’s holdings in GitLab were worth $1,268,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. EverSource Wealth Advisors LLC increased its position in shares of GitLab by 5,700.0% during the fourth 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. purchased a new stake in shares of GitLab during the fourth quarter worth $46,000. Raleigh Capital Management Inc. purchased a new stake in shares of GitLab during the fourth quarter worth $66,000. Smartleaf Asset Management LLC raised its position in shares of GitLab by 1,067.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,261 shares of the company’s stock valued at $71,000 after buying an additional 1,153 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC lifted its stake in shares of GitLab by 4,273.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,312 shares of the company’s stock worth $74,000 after buying an additional 1,282 shares in the last quarter. Institutional investors and hedge funds own 95.04% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Wells Fargo & Company increased their price objective on shares of GitLab from $80.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. JPMorgan Chase & Co. cut their price target on GitLab from $65.00 to $62.00 and set a “neutral” rating for the company in a report on Tuesday, March 4th. The Goldman Sachs Group boosted their price objective on GitLab from $80.00 to $88.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Morgan Stanley raised their target price on GitLab from $70.00 to $77.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $80.00 price target on shares of GitLab in a research report on Tuesday, March 4th. Three analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $75.09.

Insiders Place Their Bets

In other news, Director Matthew Jacobson sold 152,884 shares of the business’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $52.34, for a total transaction of $8,001,948.56. Following the completion of the transaction, the director now directly owns 493,554 shares of the company’s stock, valued at approximately $25,832,616.36. The trade was a 23.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Brian G. Robins sold 10,000 shares of the firm’s stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 267,380 shares in the company, valued at approximately $15,037,451.20. This trade represents a 3.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 329,216 shares of company stock worth $18,716,292 over the last 90 days. Corporate insiders own 21.36% of the company’s stock.

GitLab Stock Performance

Shares of GTLB stock opened at $47.65 on Wednesday. The stock has a market capitalization of $7.73 billion, a P/E ratio of -148.91 and a beta of 0.67. GitLab Inc. has a fifty-two week low of $40.72 and a fifty-two week high of $74.18. The company has a 50 day moving average price of $61.03 and a 200 day moving average price of $59.11.

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.