True Wealth Design LLC Has $73,000 Stake in GitLab Inc. (NASDAQ:GTLB)

True Wealth Design LLC grew its position in GitLab Inc. (NASDAQ:GTLB) by 20.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,297 shares of the company’s stock after purchasing an additional 216 shares during the quarter. True Wealth Design LLC’s holdings in GitLab were worth $73,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of GitLab by 7.2% in the fourth quarter. Vanguard Group Inc. now owns 13,142,592 shares of the company’s stock valued at $740,585,000 after purchasing an additional 885,955 shares during the last quarter. Norges Bank bought a new stake in shares of GitLab in the fourth quarter valued at approximately $279,089,000. Artisan Partners Limited Partnership boosted its stake in shares of GitLab by 55.7% in the fourth quarter. Artisan Partners Limited Partnership now owns 4,034,041 shares of the company’s stock valued at $227,318,000 after buying an additional 1,443,160 shares during the period. Franklin Resources Inc. boosted its stake in shares of GitLab by 17.6% in the fourth quarter. Franklin Resources Inc. now owns 3,140,264 shares of the company’s stock valued at $176,954,000 after buying an additional 470,192 shares during the period. Finally, Ameriprise Financial Inc. boosted its stake in shares of GitLab by 276.9% in the fourth quarter. Ameriprise Financial Inc. now owns 2,155,016 shares of the company’s stock valued at $121,435,000 after buying an additional 1,583,221 shares during the period. Institutional investors and hedge funds own 95.04% of the company’s stock.

GitLab Stock Down 0.6%

Shares of NASDAQ:GTLB opened at $51.49 on Friday. The firm has a market cap of $8.36 billion, a P/E ratio of -160.91 and a beta of 0.79. GitLab Inc. has a 12-month low of $37.90 and a 12-month high of $74.18. The business has a fifty day simple moving average of $47.20 and a 200 day simple moving average of $57.29.

Insider Buying and Selling

In related news, insider Sytse Sijbrandij sold 108,600 shares of the firm’s stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $42.87, for a total transaction of $4,655,682.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Susan L. Bostrom sold 40,000 shares of the firm’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $51.88, for a total value of $2,075,200.00. Following the transaction, the director now directly owns 144,913 shares of the company’s stock, valued at approximately $7,518,086.44. This represents a 21.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 461,584 shares of company stock valued at $23,192,574 in the last three months. Insiders own 16.37% of the company’s stock.

Wall Street Analyst Weigh In

GTLB has been the subject of several recent research reports. Truist Financial cut their price target on GitLab from $90.00 to $80.00 and set a “buy” rating for the company in a research note on Monday, March 31st. Barclays cut their price target on GitLab from $70.00 to $58.00 and set an “equal weight” 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 research note on Tuesday, March 4th. Morgan Stanley cut their target price on GitLab from $77.00 to $53.00 and set an “overweight” rating for the company in a research note on Wednesday, April 16th. Finally, Mizuho cut their target price on GitLab from $80.00 to $72.00 and set an “outperform” rating for the company in a research note on Tuesday, March 4th. Three investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, GitLab currently has a consensus rating of “Moderate Buy” and a consensus target price of $71.73.

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.