Skandinaviska Enskilda Banken AB publ Purchases 1,067 Shares of GitLab Inc. (NASDAQ:GTLB)

Skandinaviska Enskilda Banken AB publ boosted its position in shares of GitLab Inc. (NASDAQ:GTLB) by 65.8% during the fourth quarter, Holdings Channel.com reports. The fund owned 2,689 shares of the company’s stock after acquiring an additional 1,067 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in GitLab were worth $152,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC raised its position in shares of GitLab by 5,700.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 522 shares of the company’s stock valued at $29,000 after buying an additional 513 shares during the last quarter. True Wealth Design LLC bought a new stake in shares of GitLab during the third quarter valued at approximately $56,000. Raleigh Capital Management Inc. bought a new stake in shares of GitLab during the fourth quarter valued at approximately $66,000. Smartleaf Asset Management LLC raised its position in shares of GitLab by 1,067.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,261 shares of the company’s stock valued at $71,000 after buying an additional 1,153 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC raised its position in shares of GitLab by 4,273.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,312 shares of the company’s stock valued at $74,000 after buying an additional 1,282 shares during the last quarter. Institutional investors own 95.04% of the company’s stock.

GitLab Trading Down 3.9 %

NASDAQ GTLB opened at $49.89 on Wednesday. The company’s 50-day moving average price is $63.36 and its 200-day moving average price is $59.29. The stock has a market cap of $8.10 billion, a PE ratio of -155.91 and a beta of 0.67. GitLab Inc. has a 12 month low of $40.72 and a 12 month high of $74.18.

Insider Transactions at GitLab

In other news, insider Robin Schulman sold 9,251 shares of the company’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $70.00, for a total value of $647,570.00. Following the transaction, the insider now directly owns 121,893 shares in the company, valued at approximately $8,532,510. This represents a 7.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Brian G. Robins sold 10,000 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $70.83, for a total transaction of $708,300.00. Following the completion of the transaction, the chief financial officer now owns 267,380 shares in the company, 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. Over the last ninety days, insiders have sold 727,007 shares of company stock worth $43,843,249. Insiders own 21.36% of the company’s stock.

Wall Street Analyst Weigh In

GTLB has been the topic of several recent analyst reports. TD Cowen lifted their price objective on shares of GitLab from $63.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. The Goldman Sachs Group lifted their price objective 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. Wells Fargo & Company boosted their price target on shares of GitLab from $80.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. 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 report on Wednesday, December 4th. Finally, Robert W. Baird reduced their price target on shares of GitLab from $80.00 to $76.00 and set an “outperform” rating on the stock in a research report on Monday, March 3rd. Three investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $75.38.

GitLab Company 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.