GitLab Inc. (NASDAQ:GTLB) Shares Sold by AMI Asset Management Corp

AMI Asset Management Corp cut its holdings in shares of GitLab Inc. (NASDAQ:GTLB) by 3.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 29,086 shares of the company’s stock after selling 961 shares during the period. AMI Asset Management Corp’s holdings in GitLab were worth $1,639,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in GTLB. Future Financial Wealth Managment LLC acquired a new position in shares of GitLab in the 3rd quarter valued at $52,000. True Wealth Design LLC acquired a new stake in shares of GitLab in the third quarter worth $56,000. Rakuten Securities Inc. grew its holdings in shares of GitLab by 268.1% during the third quarter. Rakuten Securities Inc. now owns 1,417 shares of the company’s stock valued at $73,000 after buying an additional 1,032 shares in the last quarter. Quarry LP raised its position in GitLab by 527.0% during the second quarter. Quarry LP now owns 1,787 shares of the company’s stock valued at $89,000 after buying an additional 1,502 shares during the period. Finally, Capital Performance Advisors LLP purchased a new stake in GitLab in the 3rd quarter worth about $96,000. 95.04% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

GTLB has been the topic of a number of research reports. Cantor Fitzgerald upped their target price on GitLab from $75.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, December 6th. TD Cowen boosted their price objective on shares of GitLab from $63.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Mizuho lifted their target price on shares of GitLab from $67.00 to $80.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Macquarie restated an “outperform” rating and issued a $90.00 target price on shares of GitLab in a research note on Wednesday, January 15th. Finally, Canaccord Genuity Group boosted their target price on shares of GitLab from $65.00 to $78.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Three research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $76.42.

Insider Buying and Selling

In other news, CFO Brian G. Robins sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $67.59, for a total transaction of $675,900.00. Following the transaction, the chief financial officer now directly owns 242,803 shares in the company, valued at approximately $16,411,054.77. This represents a 3.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sytse Sijbrandij sold 84,776 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $59.64, for a total transaction of $5,056,040.64. The disclosure for this sale can be found here. Insiders have sold a total of 816,447 shares of company stock worth $48,948,434 in the last three months. Insiders own 21.36% of the company’s stock.

GitLab Stock Down 1.8 %

Shares of GitLab stock opened at $63.02 on Tuesday. GitLab Inc. has a 1-year low of $40.72 and a 1-year high of $78.53. The firm’s 50-day moving average price is $61.30 and its two-hundred day moving average price is $54.82.

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.