Public Employees Retirement System of Ohio Reduces Holdings in GitLab Inc. (NASDAQ:GTLB)

Public Employees Retirement System of Ohio reduced its stake in shares of GitLab Inc. (NASDAQ:GTLB) by 4.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,030 shares of the company’s stock after selling 2,144 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in GitLab were worth $2,218,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Bank of Marin grew its holdings in shares of GitLab by 3.0% during the third 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 last quarter. Moloney Securities Asset Management LLC boosted its position in shares of GitLab by 4.9% in the 2nd quarter. Moloney Securities Asset Management LLC now owns 6,400 shares of the company’s stock valued at $318,000 after purchasing an additional 300 shares during the period. Glenmede Trust Co. NA grew its stake in GitLab by 3.0% during the 3rd quarter. Glenmede Trust Co. NA now owns 11,564 shares of the company’s stock worth $596,000 after buying an additional 334 shares during the last quarter. Blue Trust Inc. grew its stake in GitLab by 18.2% during the 3rd quarter. Blue Trust Inc. now owns 3,166 shares of the company’s stock worth $157,000 after buying an additional 488 shares during the last quarter. Finally, Caprock Group LLC increased its position in GitLab by 1.9% during the second quarter. Caprock Group LLC now owns 31,272 shares of the company’s stock worth $1,555,000 after buying an additional 586 shares during the period. 95.04% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at GitLab

In other news, CAO Erin Mannix sold 1,433 shares of the stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $52.80, for a total value of $75,662.40. Following the completion of the transaction, the chief accounting officer now owns 72,448 shares of the company’s stock, valued at approximately $3,825,254.40. This represents a 1.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Brian G. Robins sold 16,666 shares of GitLab stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $56.74, for a total transaction of $945,628.84. Following the sale, the chief financial officer now owns 242,803 shares in the company, 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. Over the last 90 days, insiders have sold 181,615 shares of company stock worth $10,542,402. 21.36% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Piper Sandler lifted their target price on GitLab from $75.00 to $85.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Morgan Stanley boosted their price target on GitLab from $70.00 to $77.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Cantor Fitzgerald increased their price objective on GitLab from $75.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Barclays boosted their target price on shares of GitLab from $55.00 to $70.00 and gave the company an “equal weight” rating in a research note on Monday, December 9th. Finally, UBS Group raised their price target on shares of GitLab from $62.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Three equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, GitLab has a consensus rating of “Moderate Buy” and a consensus target price of $76.42.

GitLab Stock Up 0.1 %

GTLB stock opened at $59.14 on Wednesday. The firm’s 50-day simple moving average is $59.46 and its 200 day simple moving average is $52.60. The stock has a market cap of $9.60 billion, a PE ratio of -184.81 and a beta of 0.54. GitLab Inc. has a fifty-two week low of $40.72 and a fifty-two week high of $78.53.

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.