Northside Capital Management LLC Buys Shares of 5,834 GitLab Inc. (NASDAQ:GTLB)

Northside Capital Management LLC bought a new stake in GitLab Inc. (NASDAQ:GTLB) during the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 5,834 shares of the company’s stock, valued at approximately $329,000.

Several other large investors have also modified their holdings of GTLB. Bank of Marin increased its position in GitLab by 3.0% during the 3rd quarter. Bank of Marin now owns 5,856 shares of the company’s stock worth $302,000 after purchasing an additional 171 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of GitLab by 0.3% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 91,445 shares of the company’s stock valued at $4,713,000 after buying an additional 281 shares during the period. Glenmede Trust Co. NA boosted its stake in shares of GitLab by 3.0% in 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 in the last quarter. Blue Trust Inc. grew its holdings in 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 during the period. Finally, Blair William & Co. IL raised its position in GitLab by 1.9% in the second quarter. Blair William & Co. IL now owns 42,151 shares of the company’s stock worth $2,096,000 after acquiring an additional 769 shares in the last quarter. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Insiders Place Their Bets

In other GitLab news, Director Matthew Jacobson sold 547,679 shares of GitLab stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $59.72, for a total value of $32,707,389.88. Following the completion of the sale, the director now owns 58,471 shares in the company, valued at $3,491,888.12. The trade was a 90.35 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Brian G. Robins sold 16,666 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $56.74, for a total transaction of $945,628.84. Following the transaction, the chief financial officer now owns 242,803 shares in the company, valued at approximately $13,776,642.22. The trade was a 6.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 725,947 shares of company stock valued at $43,246,539 in the last quarter. 21.36% of the stock is currently owned by company insiders.

GitLab Stock Performance

Shares of NASDAQ GTLB opened at $62.93 on Thursday. GitLab Inc. has a 1 year low of $40.72 and a 1 year high of $78.53. The firm’s 50 day moving average price is $61.19 and its 200 day moving average price is $54.64.

Wall Street Analyst Weigh In

GTLB has been the topic of several research analyst reports. TD Cowen boosted their target price on shares of GitLab from $63.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. KeyCorp raised their price objective on shares of GitLab from $74.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Piper Sandler upped their target price on shares of GitLab from $75.00 to $85.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. The Goldman Sachs Group lifted their price target on shares of GitLab from $80.00 to $88.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Finally, Barclays upped their price target on GitLab from $55.00 to $70.00 and gave the stock an “equal weight” rating in a report on Monday, December 9th. Three equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $76.42.

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.