GitLab Inc. (NASDAQ:GTLB) Shares Acquired by Atika Capital Management LLC

Atika Capital Management LLC increased its stake in shares of GitLab Inc. (NASDAQ:GTLB) by 23,140.0% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 116,200 shares of the company’s stock after acquiring an additional 115,700 shares during the period. Atika Capital Management LLC owned approximately 0.07% of GitLab worth $6,548,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GTLB. Norges Bank purchased a new position in shares of GitLab in the fourth quarter valued at $279,089,000. Artisan Partners Limited Partnership grew its stake in shares of GitLab by 55.7% during the fourth quarter. Artisan Partners Limited Partnership now owns 4,034,041 shares of the company’s stock valued at $227,318,000 after acquiring an additional 1,443,160 shares in the last quarter. Alliancebernstein L.P. increased its position in shares of GitLab by 4,042.0% during the fourth quarter. Alliancebernstein L.P. now owns 1,455,385 shares of the company’s stock worth $82,011,000 after acquiring an additional 1,420,248 shares during the last quarter. ARK Investment Management LLC boosted its holdings in GitLab by 345.2% in the fourth quarter. ARK Investment Management LLC now owns 1,160,502 shares of the company’s stock valued at $65,394,000 after purchasing an additional 899,823 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in GitLab by 7.2% during the 4th quarter. Vanguard Group Inc. now owns 13,142,592 shares of the company’s stock valued at $740,585,000 after purchasing an additional 885,955 shares in the last quarter. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. DA Davidson reduced their target price on GitLab from $70.00 to $60.00 and set a “neutral” rating for the company in a research note on Friday, February 28th. JPMorgan Chase & Co. dropped their target price on shares of GitLab from $65.00 to $62.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. Cantor Fitzgerald restated an “overweight” rating and issued a $80.00 target price on shares of GitLab in a research note on Tuesday, March 4th. Truist Financial reduced their price target on shares of GitLab from $90.00 to $80.00 and set a “buy” rating on the stock in a research report on Monday, March 31st. Finally, Mizuho cut their price objective on GitLab from $80.00 to $72.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 4th. Three analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $75.09.

GitLab Price Performance

Shares of GTLB stock opened at $41.09 on Friday. The business has a 50 day simple moving average of $59.82 and a 200 day simple moving average of $58.89. The firm has a market capitalization of $6.67 billion, a price-to-earnings ratio of -128.41 and a beta of 0.79. GitLab Inc. has a 12-month low of $37.90 and a 12-month high of $74.18.

Insider Transactions at GitLab

In related news, Director Matthew Jacobson sold 152,884 shares of the stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $52.34, for a total value of $8,001,948.56. Following the completion of the transaction, the director now owns 493,554 shares in the company, valued at $25,832,616.36. This represents a 23.65 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Brian G. Robins sold 10,000 shares of the business’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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 311,886 shares of company stock valued at $17,736,229. 21.36% of the stock is currently 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.