Whalen Wealth Management Inc. Makes New $305,000 Investment in GitLab Inc. (NASDAQ:GTLB)

Whalen Wealth Management Inc. acquired a new stake in shares of GitLab Inc. (NASDAQ:GTLB) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 5,420 shares of the company’s stock, valued at approximately $305,000.

Other hedge funds have also recently made changes to their positions in the company. Franklin Resources Inc. grew its stake in GitLab by 0.8% during the 3rd quarter. Franklin Resources Inc. now owns 2,670,072 shares of the company’s stock valued at $146,774,000 after purchasing an additional 21,976 shares during the last quarter. State Street Corp increased its holdings in GitLab by 5.8% in the 3rd quarter. State Street Corp now owns 2,032,206 shares of the company’s stock worth $104,740,000 after buying an additional 111,997 shares during the period. Geode Capital Management LLC raised its position in GitLab by 7.0% during the 3rd quarter. Geode Capital Management LLC now owns 2,026,567 shares of the company’s stock worth $104,476,000 after buying an additional 132,548 shares during the last quarter. Fiera Capital Corp lifted its stake in GitLab by 1.4% during the 3rd quarter. Fiera Capital Corp now owns 1,259,429 shares of the company’s stock valued at $64,911,000 after acquiring an additional 16,961 shares during the period. Finally, Bamco Inc. NY boosted its holdings in shares of GitLab by 0.4% in the 3rd quarter. Bamco Inc. NY now owns 1,253,244 shares of the company’s stock valued at $64,592,000 after acquiring an additional 4,874 shares during the last quarter. 95.04% of the stock is owned by institutional investors and hedge funds.

GitLab Stock Down 2.1 %

Shares of GitLab stock opened at $63.68 on Thursday. The firm has a market cap of $10.34 billion, a PE ratio of -199.00 and a beta of 0.57. GitLab Inc. has a 52 week low of $40.72 and a 52 week high of $78.53. The business’s fifty day simple moving average is $61.51 and its 200-day simple moving average is $55.04.

Analyst Ratings Changes

GTLB has been the subject of a number of research reports. Mizuho boosted their target price on shares of GitLab from $67.00 to $80.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Barclays upped their target price on GitLab from $55.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Monday, December 9th. Macquarie reiterated an “outperform” rating and set a $90.00 price target on shares of GitLab in a research report on Wednesday, January 15th. KeyCorp upped their price objective on GitLab from $74.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. Finally, Piper Sandler lifted their target price on shares of GitLab from $75.00 to $85.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Three research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $76.42.

Insider Activity at GitLab

In other GitLab news, insider Robin Schulman sold 2,996 shares of the company’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $55.98, for a total transaction of $167,716.08. Following the transaction, the insider now directly owns 129,223 shares in the company, valued at $7,233,903.54. This represents a 2.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Brian G. Robins sold 16,666 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $56.74, for a total value of $945,628.84. Following the transaction, the chief financial officer now owns 242,803 shares of the company’s stock, valued at approximately $13,776,642.22. This represents a 6.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 825,698 shares of company stock worth $49,549,749. 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.