JT Stratford LLC Invests $284,000 in GitLab Inc. (NASDAQ:GTLB)

JT Stratford LLC bought a new stake in shares of GitLab Inc. (NASDAQ:GTLB) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 5,035 shares of the company’s stock, valued at approximately $284,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Barclays PLC increased its holdings in shares of GitLab by 189.1% in the third quarter. Barclays PLC now owns 61,419 shares of the company’s stock valued at $3,164,000 after buying an additional 40,171 shares in the last quarter. Park Avenue Securities LLC grew its holdings in shares of GitLab by 44.5% in the 4th quarter. Park Avenue Securities LLC now owns 7,220 shares of the company’s stock worth $407,000 after acquiring an additional 2,225 shares during the last quarter. Merit Financial Group LLC acquired a new stake in shares of GitLab during the fourth quarter worth $406,000. SG Americas Securities LLC raised its position in shares of GitLab by 594.9% during the fourth quarter. SG Americas Securities LLC now owns 16,074 shares of the company’s stock worth $906,000 after purchasing an additional 13,761 shares during the period. Finally, Janney Montgomery Scott LLC lifted its holdings in shares of GitLab by 11.0% during the fourth quarter. Janney Montgomery Scott LLC now owns 40,446 shares of the company’s stock valued at $2,279,000 after purchasing an additional 3,995 shares during the last quarter. 95.04% of the stock is owned by institutional investors and hedge funds.

GitLab Price Performance

Shares of NASDAQ GTLB opened at $47.77 on Friday. GitLab Inc. has a one year low of $37.90 and a one year high of $74.18. The business’s 50-day moving average price is $46.96 and its two-hundred day moving average price is $57.08. The company has a market capitalization of $7.83 billion, a P/E ratio of -149.28 and a beta of 0.79.

Insider Activity

In other GitLab news, Director Karen Blasing sold 3,250 shares of the business’s stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $45.00, for a total value of $146,250.00. Following the completion of the sale, the director now directly owns 111,983 shares of the company’s stock, valued at $5,039,235. The trade was a 2.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Brian G. Robins sold 45,000 shares of the stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $53.04, for a total transaction of $2,386,800.00. Following the transaction, the chief financial officer now owns 344,105 shares in the company, valued at approximately $18,251,329.20. This trade represents a 11.57% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 461,584 shares of company stock worth $23,192,574 in the last three months. 21.36% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on GTLB shares. KeyCorp dropped their price target on GitLab from $80.00 to $60.00 and set an “overweight” rating on the stock in a research note on Thursday, April 17th. Robert W. Baird dropped their target price on shares of GitLab from $80.00 to $76.00 and set an “outperform” rating on the stock in a research report on Monday, March 3rd. Wells Fargo & Company cut their price target on shares of GitLab from $85.00 to $65.00 and set an “overweight” rating on the stock in a report on Tuesday, April 22nd. Mizuho reduced their price target on shares of GitLab from $80.00 to $72.00 and set an “outperform” rating for the company in a research report on Tuesday, March 4th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $80.00 price objective on shares of GitLab in a research report on Tuesday, March 4th. Three investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $71.73.

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.