Benjamin Edwards Inc. Purchases Shares of 9,599 GitLab Inc. (NASDAQ:GTLB)

Benjamin Edwards Inc. acquired a new position in GitLab Inc. (NASDAQ:GTLB) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 9,599 shares of the company’s stock, valued at approximately $541,000.

A number of other hedge funds have also recently bought and sold shares of the company. Barclays PLC lifted its stake in GitLab by 189.1% during the third quarter. Barclays PLC now owns 61,419 shares of the company’s stock valued at $3,164,000 after purchasing an additional 40,171 shares during the last quarter. Swiss National Bank boosted its stake in shares of GitLab by 3.7% during the 4th quarter. Swiss National Bank now owns 215,000 shares of the company’s stock worth $12,115,000 after acquiring an additional 7,700 shares in the last quarter. Barton Investment Management grew its holdings in shares of GitLab by 99.4% in the 4th quarter. Barton Investment Management now owns 335,648 shares of the company’s stock worth $18,914,000 after acquiring an additional 167,290 shares during the last quarter. Jackson Square Capital LLC raised its position in shares of GitLab by 328.1% during the fourth quarter. Jackson Square Capital LLC now owns 36,600 shares of the company’s stock worth $2,062,000 after purchasing an additional 28,050 shares during the period. Finally, Smith Group Asset Management LLC lifted its holdings in shares of GitLab by 70.9% during the fourth quarter. Smith Group Asset Management LLC now owns 17,020 shares of the company’s stock valued at $959,000 after purchasing an additional 7,060 shares during the last quarter. 95.04% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on GTLB. Needham & Company LLC restated a “buy” rating and set a $85.00 price objective on shares of GitLab in a report on Tuesday, March 4th. Macquarie restated an “outperform” rating and issued a $90.00 price target on shares of GitLab in a research report on Tuesday, March 4th. KeyCorp cut their target price on shares of GitLab from $80.00 to $60.00 and set an “overweight” rating on the stock in a research note on Thursday, April 17th. Truist Financial decreased their target price on GitLab from $90.00 to $80.00 and set a “buy” rating for the company in a research report on Monday, March 31st. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $80.00 price objective on shares of GitLab in a research note on Tuesday, March 4th. Three analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $71.73.

GitLab Stock Down 0.8 %

Shares of GitLab stock opened at $49.14 on Friday. GitLab Inc. has a 12-month low of $37.90 and a 12-month high of $74.18. The stock has a 50 day moving average price of $47.55 and a two-hundred day moving average price of $57.34. The stock has a market capitalization of $7.98 billion, a P/E ratio of -153.56 and a beta of 0.79.

Insider Buying and Selling

In related news, Director Karen Blasing sold 3,250 shares of the business’s stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $45.00, for a total transaction of $146,250.00. Following the completion of the transaction, the director now owns 111,983 shares of the company’s stock, valued at approximately $5,039,235. The trade was a 2.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Matthew Jacobson sold 152,884 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $52.34, for a total value of $8,001,948.56. Following the completion of the sale, the director now directly owns 493,554 shares in the company, valued at $25,832,616.36. This trade represents a 23.65 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 304,734 shares of company stock valued at $14,879,081. Company insiders own 21.36% of the company’s stock.

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.