Whalen Wealth Management Inc. Makes New Investment in GitLab Inc. (NASDAQ:GTLB)

Whalen Wealth Management Inc. purchased a new stake in GitLab Inc. (NASDAQ:GTLB) in the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 5,420 shares of the company’s stock, valued at approximately $305,000.

Several other institutional investors have also modified their holdings of GTLB. Envestnet Asset Management Inc. increased its stake in shares of GitLab by 4.7% during the second quarter. Envestnet Asset Management Inc. now owns 112,496 shares of the company’s stock worth $5,593,000 after buying an additional 5,078 shares during the period. Amalgamated Bank grew its holdings in GitLab by 33.3% during the 2nd quarter. Amalgamated Bank now owns 8,005 shares of the company’s stock worth $398,000 after acquiring an additional 2,001 shares in the last quarter. Mercer Global Advisors Inc. ADV purchased a new stake in shares of GitLab in the 2nd quarter valued at approximately $206,000. Hsbc Holdings PLC acquired a new stake in shares of GitLab in the 2nd quarter valued at $627,000. Finally, Sei Investments Co. lifted its position in shares of GitLab by 520.2% during the 2nd quarter. Sei Investments Co. now owns 128,145 shares of the company’s stock worth $6,371,000 after purchasing an additional 107,483 shares during the last quarter. Institutional investors and hedge funds own 95.04% of the company’s stock.

GitLab Stock Performance

GTLB stock opened at $63.68 on Thursday. The stock has a market capitalization of $10.34 billion, a PE ratio of -199.00 and a beta of 0.57. The company has a fifty day moving average of $61.51 and a 200-day moving average of $55.04. GitLab Inc. has a one year low of $40.72 and a one year high of $78.53.

Insider Buying and Selling

In other GitLab news, insider Robin Schulman sold 9,251 shares of the business’s stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $65.00, for a total transaction of $601,315.00. Following the transaction, the insider now owns 121,893 shares in the company, valued at approximately $7,923,045. The trade was a 7.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Brian G. Robins sold 16,666 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $56.74, for a total value of $945,628.84. Following the completion of the sale, the chief financial officer now directly owns 242,803 shares of the company’s stock, valued at $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. Insiders sold 825,698 shares of company stock valued at $49,549,749 over the last ninety days. Corporate insiders own 21.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on GTLB shares. Royal Bank of Canada increased their target price on GitLab from $73.00 to $80.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Piper Sandler raised their target price on GitLab from $75.00 to $85.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. KeyCorp boosted their target price on GitLab from $74.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Robert W. Baird boosted their price objective on shares of GitLab from $62.00 to $75.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Finally, Macquarie restated an “outperform” rating and issued a $90.00 target price on shares of GitLab in a report on Wednesday, January 15th. Three research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $76.42.

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.