17,098 Shares in GitLab Inc. (NASDAQ:GTLB) Bought by Baader Bank Aktiengesellschaft

Baader Bank Aktiengesellschaft bought a new position in GitLab Inc. (NASDAQ:GTLB - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 17,098 shares of the company's stock, valued at approximately $963,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Future Financial Wealth Managment LLC purchased a new position in shares of GitLab during the 3rd quarter worth $52,000. True Wealth Design LLC purchased a new position in shares of GitLab during the 3rd quarter worth $56,000. Raleigh Capital Management Inc. purchased a new position in shares of GitLab during the 4th quarter worth $66,000. Rakuten Securities Inc. boosted its stake in shares of GitLab by 268.1% during the 3rd quarter. Rakuten Securities Inc. now owns 1,417 shares of the company's stock worth $73,000 after acquiring an additional 1,032 shares during the last quarter. Finally, Quarry LP boosted its stake in shares of GitLab by 527.0% during the 2nd quarter. Quarry LP now owns 1,787 shares of the company's stock worth $89,000 after acquiring an additional 1,502 shares during the last quarter. Hedge funds and other institutional investors own 95.04% of the company's stock.

GitLab Price Performance

Shares of GitLab stock traded down $0.77 during trading hours on Thursday, reaching $69.56. The company's stock had a trading volume of 1,837,951 shares, compared to its average volume of 2,853,396. GitLab Inc. has a one year low of $40.72 and a one year high of $78.53. The firm has a 50 day moving average price of $62.16 and a 200-day moving average price of $55.59. The stock has a market cap of $11.29 billion, a P/E ratio of -217.27 and a beta of 0.57.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on GTLB shares. Cantor Fitzgerald lifted their price target on shares of GitLab from $75.00 to $80.00 and gave the stock an "overweight" rating in a research note on Friday, December 6th. Wells Fargo & Company lifted their price target on shares of GitLab from $75.00 to $80.00 and gave the stock an "overweight" rating in a research note on Friday, December 6th. KeyCorp raised their price objective on shares of GitLab from $74.00 to $80.00 and gave the company an "overweight" rating in a research report on Friday, December 6th. Robert W. Baird raised their price objective on shares of GitLab from $62.00 to $75.00 and gave the company an "outperform" rating in a research report on Friday, December 6th. Finally, Mizuho raised their price objective on shares of GitLab from $67.00 to $80.00 and gave the company an "outperform" rating in a research report on Monday, December 9th. Three investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $76.42.

Insider Buying and Selling

In other GitLab news, insider Robin Schulman sold 9,251 shares of the business's stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $65.00, for a total value of $601,315.00. Following the completion of the sale, the insider now directly owns 121,893 shares of the company's stock, valued at $7,923,045. The trade was a 7.05 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Sytse Sijbrandij sold 84,000 shares of the business's stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $62.99, for a total transaction of $5,291,160.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 825,698 shares of company stock valued at $49,549,749. Company insiders own 21.36% of the company's stock.

About GitLab

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.