Strengthening Families & Communities LLC Sells 2,443 Shares of GitLab Inc. (NASDAQ:GTLB)

Strengthening Families & Communities LLC lessened its holdings in GitLab Inc. (NASDAQ:GTLB) by 8.1% in the fourth quarter, HoldingsChannel reports. The fund owned 27,841 shares of the company’s stock after selling 2,443 shares during the period. Strengthening Families & Communities LLC’s holdings in GitLab were worth $1,569,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of GTLB. True Wealth Design LLC acquired a new stake in shares of GitLab during the 3rd quarter worth $56,000. Raleigh Capital Management Inc. bought a new stake in GitLab during the fourth quarter worth about $66,000. Rakuten Securities Inc. grew its stake in 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 buying an additional 1,032 shares in the last quarter. Capital Performance Advisors LLP bought a new position in GitLab in the 3rd quarter valued at about $96,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of GitLab in the 3rd quarter valued at approximately $98,000. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other GitLab news, Director Karen Blasing sold 3,250 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $59.41, for a total transaction of $193,082.50. Following the sale, the director now owns 137,983 shares of the company’s stock, valued at approximately $8,197,570.03. This represents a 2.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Brian G. Robins sold 10,000 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $70.83, for a total value of $708,300.00. Following the sale, the chief financial officer now owns 267,380 shares of the company’s stock, valued at approximately $18,938,525.40. The trade was a 3.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 828,283 shares of company stock worth $49,959,990. 21.36% of the stock is currently owned by insiders.

GitLab Stock Up 1.0 %

GitLab stock opened at $71.28 on Tuesday. The stock’s 50 day moving average is $63.04 and its 200 day moving average is $56.53. GitLab Inc. has a one year low of $40.72 and a one year high of $76.69.

Analyst Upgrades and Downgrades

GTLB has been the topic of several analyst reports. DA Davidson increased their price target on shares of GitLab from $50.00 to $70.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Barclays raised their target price on GitLab from $55.00 to $70.00 and gave the company an “equal weight” rating in a report on Monday, December 9th. Mizuho boosted their price target on GitLab from $67.00 to $80.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Piper Sandler raised their price objective on GitLab from $75.00 to $85.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Finally, The Goldman Sachs Group boosted their target price on GitLab from $80.00 to $88.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Three investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target 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.