Ieq Capital LLC Has $7.45 Million Stake in GitLab Inc. (NASDAQ:GTLB)

Ieq Capital LLC lifted its stake in shares of GitLab Inc. (NASDAQ:GTLB) by 201.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 132,250 shares of the company’s stock after purchasing an additional 88,394 shares during the period. Ieq Capital LLC owned approximately 0.08% of GitLab worth $7,452,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. True Wealth Design LLC acquired a new position in shares of GitLab during the third quarter worth approximately $56,000. Raleigh Capital Management Inc. acquired a new position in shares of GitLab during the fourth quarter worth approximately $66,000. Rakuten Securities Inc. lifted its position in shares of GitLab by 268.1% during the third quarter. Rakuten Securities Inc. now owns 1,417 shares of the company’s stock worth $73,000 after purchasing an additional 1,032 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in shares of GitLab during the third quarter worth approximately $96,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of GitLab during the third quarter worth approximately $98,000. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at GitLab

In related news, CFO Brian G. Robins sold 10,000 shares of the stock in a transaction on Monday, December 9th. The shares were sold at an average price of $67.59, for a total transaction of $675,900.00. Following the completion of the transaction, the chief financial officer now owns 242,803 shares in the company, valued at approximately $16,411,054.77. This represents a 3.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Robin Schulman sold 2,996 shares of the 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 owns 129,223 shares of the company’s stock, valued at $7,233,903.54. The trade was a 2.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 740,257 shares of company stock valued at $44,710,867 over the last quarter. Corporate insiders own 21.36% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Scotiabank boosted their price target on shares of GitLab from $65.00 to $75.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, December 4th. KeyCorp boosted their price target on shares of GitLab from $74.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Mizuho boosted their price target on shares of GitLab from $67.00 to $80.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Piper Sandler boosted their price target on shares of GitLab from $75.00 to $85.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Finally, JPMorgan Chase & Co. boosted their price target on shares of GitLab from $60.00 to $65.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Three equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, GitLab has an average rating of “Moderate Buy” and a consensus target price of $76.62.

GitLab Stock Down 3.4 %

Shares of GTLB stock opened at $67.45 on Friday. The firm has a fifty day moving average of $63.87 and a 200-day moving average of $57.54. GitLab Inc. has a 12-month low of $40.72 and a 12-month high of $76.41. The company has a market capitalization of $10.95 billion, a price-to-earnings ratio of -210.78 and a beta of 0.63.

About GitLab

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.