Baader Bank Aktiengesellschaft purchased a new position in shares of GitLab Inc. (NASDAQ:GTLB – Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 17,098 shares of the company’s stock, valued at approximately $963,000.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Y Intercept Hong Kong Ltd acquired a new position in GitLab during the 3rd quarter worth $678,000. State Street Corp boosted its holdings in shares of GitLab by 5.8% in the 3rd quarter. State Street Corp now owns 2,032,206 shares of the company’s stock valued at $104,740,000 after buying an additional 111,997 shares during the period. Barclays PLC boosted its holdings in shares of GitLab by 189.1% in the 3rd quarter. Barclays PLC now owns 61,419 shares of the company’s stock valued at $3,164,000 after buying an additional 40,171 shares during the period. Oddo BHF Asset Management Sas acquired a new position in shares of GitLab in the 3rd quarter valued at about $6,865,000. Finally, Jackson Square Capital LLC boosted its holdings in shares of GitLab by 328.1% in the 4th quarter. Jackson Square Capital LLC now owns 36,600 shares of the company’s stock valued at $2,062,000 after buying an additional 28,050 shares during the period. Hedge funds and other institutional investors own 95.04% of the company’s stock.
Analysts Set New Price Targets
Several analysts recently weighed in on GTLB shares. Piper Sandler lifted their price objective 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. Canaccord Genuity Group boosted their price target on shares of GitLab from $65.00 to $78.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. KeyCorp increased their target price on shares of GitLab from $74.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Cantor Fitzgerald upped their price objective on shares of GitLab from $75.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Finally, Wells Fargo & Company upped their price objective on shares of GitLab from $75.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Three research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $76.42.
GitLab Stock Down 3.3 %
Shares of GitLab stock opened at $70.33 on Thursday. The stock has a market capitalization of $11.41 billion, a P/E ratio of -219.78 and a beta of 0.57. The company has a 50-day simple moving average of $62.00 and a 200 day simple moving average of $55.49. GitLab Inc. has a 12-month low of $40.72 and a 12-month high of $78.53.
Insider Buying and Selling
In other GitLab news, CFO Brian G. Robins sold 16,666 shares of the firm’s stock in a transaction dated 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 owns 242,803 shares in the company, valued at approximately $13,776,642.22. This trade represents a 6.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Sytse Sijbrandij sold 84,776 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $59.64, for a total transaction of $5,056,040.64. The disclosure for this sale can be found here. Insiders sold 825,698 shares of company stock worth $49,549,749 in the last quarter. 21.36% of the stock is owned by corporate insiders.
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.
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