Thrivent Financial for Lutherans Sells 45,755 Shares of GitLab Inc. (NASDAQ:GTLB)

Thrivent Financial for Lutherans lowered its stake in shares of GitLab Inc. (NASDAQ:GTLB) by 8.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 508,700 shares of the company’s stock after selling 45,755 shares during the quarter. Thrivent Financial for Lutherans’ holdings in GitLab were worth $28,665,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. EverSource Wealth Advisors LLC boosted its stake in GitLab by 5,700.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 522 shares of the company’s stock valued at $29,000 after acquiring an additional 513 shares during the last quarter. IMG Wealth Management Inc. purchased a new position in GitLab in the fourth quarter valued at approximately $46,000. True Wealth Design LLC bought a new position in GitLab during the third quarter valued at $56,000. Raleigh Capital Management Inc. purchased a new stake in GitLab in the fourth quarter worth $66,000. Finally, Smartleaf Asset Management LLC raised its stake in shares of GitLab by 1,067.6% in 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 period. Hedge funds and other institutional investors own 95.04% of the company’s stock.

GitLab Trading Down 0.9 %

Shares of NASDAQ GTLB opened at $51.16 on Friday. The stock’s 50-day moving average is $62.95 and its 200 day moving average is $59.18. The stock has a market cap of $8.30 billion, a price-to-earnings ratio of -159.88 and a beta of 0.67. GitLab Inc. has a 1-year low of $40.72 and a 1-year high of $74.18.

Insiders Place Their Bets

In related news, CFO Brian G. Robins sold 10,000 shares of GitLab stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $70.83, for a total value of $708,300.00. Following the transaction, the chief financial officer now owns 267,380 shares in the company, valued at $18,938,525.40. This trade represents a 3.61 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Susan L. Bostrom sold 20,000 shares of the company’s stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $60.19, for a total transaction of $1,203,800.00. Following the sale, the director now owns 204,913 shares of the company’s stock, valued at approximately $12,333,713.47. The trade was a 8.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 724,011 shares of company stock valued at $43,675,533. 21.36% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

GTLB has been the subject of several recent research reports. Macquarie reissued an “outperform” rating and issued a $90.00 price objective on shares of GitLab in a report on Tuesday, March 4th. Piper Sandler boosted their price target on shares of GitLab from $75.00 to $85.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Wells Fargo & Company raised their price objective on shares of GitLab from $80.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. Barclays lowered their target price on shares of GitLab from $70.00 to $58.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 4th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $85.00 price target on shares of GitLab in a report on Tuesday, March 4th. Three investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, GitLab has an average rating of “Moderate Buy” and an average price target of $75.38.

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.