32,700 Shares in GitLab Inc. (NASDAQ:GTLB) Acquired by MML Investors Services LLC

MML Investors Services LLC acquired a new stake in GitLab Inc. (NASDAQ:GTLB) in the third quarter, Holdings Channel reports. The fund acquired 32,700 shares of the company’s stock, valued at approximately $1,685,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of GTLB. Bank of Marin grew its position in GitLab by 3.0% in the 3rd quarter. Bank of Marin now owns 5,856 shares of the company’s stock valued at $302,000 after purchasing an additional 171 shares during the period. Moloney Securities Asset Management LLC lifted its stake in shares of GitLab by 4.9% in the second quarter. Moloney Securities Asset Management LLC now owns 6,400 shares of the company’s stock valued at $318,000 after buying an additional 300 shares in the last quarter. Glenmede Trust Co. NA grew its holdings in shares of GitLab by 3.0% during the third quarter. Glenmede Trust Co. NA now owns 11,564 shares of the company’s stock valued at $596,000 after buying an additional 334 shares during the last quarter. Blue Trust Inc. increased its position in shares of GitLab by 18.2% during the third quarter. Blue Trust Inc. now owns 3,166 shares of the company’s stock worth $157,000 after acquiring an additional 488 shares in the last quarter. Finally, Caprock Group LLC raised its holdings in shares of GitLab by 1.9% in the 2nd quarter. Caprock Group LLC now owns 31,272 shares of the company’s stock worth $1,555,000 after acquiring an additional 586 shares during the last quarter. Institutional investors own 95.04% of the company’s stock.

Insider Activity at GitLab

In other news, CEO Sytse Sijbrandij sold 56,000 shares of GitLab stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $54.68, for a total transaction of $3,062,080.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Erin Mannix sold 1,433 shares of the business’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $52.80, for a total value of $75,662.40. Following the transaction, the chief accounting officer now directly owns 72,448 shares of the company’s stock, valued at $3,825,254.40. The trade was a 1.94 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 181,615 shares of company stock valued at $10,542,402. Corporate insiders own 21.36% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on GTLB shares. 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 report on Friday, December 6th. Needham & Company LLC upped their price target on GitLab from $70.00 to $85.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Canaccord Genuity Group increased their price target on GitLab from $65.00 to $78.00 and gave the company a “buy” rating in a research report on Friday, December 6th. JPMorgan Chase & Co. lifted their price objective on shares of GitLab from $60.00 to $65.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Finally, TD Cowen increased their target price on shares of GitLab from $63.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Three 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.com, GitLab presently has an average rating of “Moderate Buy” and a consensus price target of $76.42.

GitLab Stock Up 0.1 %

GTLB stock opened at $59.14 on Wednesday. The stock has a 50-day simple moving average of $59.46 and a two-hundred day simple moving average of $52.60. GitLab Inc. has a twelve month low of $40.72 and a twelve month high of $78.53. The firm has a market capitalization of $9.60 billion, a PE ratio of -184.81 and a beta of 0.54.

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.