Vestmark Advisory Solutions Inc. Purchases Shares of 33,261 GitLab Inc. (NASDAQ:GTLB)

Vestmark Advisory Solutions Inc. purchased a new stake in shares of GitLab Inc. (NASDAQ:GTLB - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 33,261 shares of the company's stock, valued at approximately $1,874,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Y Intercept Hong Kong Ltd bought a new stake in GitLab during the third quarter valued at approximately $678,000. State Street Corp boosted its stake in shares of GitLab by 5.8% during the 3rd quarter. State Street Corp now owns 2,032,206 shares of the company's stock worth $104,740,000 after acquiring an additional 111,997 shares during the last quarter. Barclays PLC increased its stake in shares of GitLab by 189.1% in the 3rd quarter. Barclays PLC now owns 61,419 shares of the company's stock worth $3,164,000 after purchasing an additional 40,171 shares in the last quarter. Oddo BHF Asset Management Sas bought a new position in GitLab in the 3rd quarter worth $6,865,000. Finally, Barton Investment Management raised its holdings in GitLab by 99.4% in the 4th quarter. Barton Investment Management now owns 335,648 shares of the company's stock worth $18,914,000 after purchasing an additional 167,290 shares during the period. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at GitLab

In other GitLab news, insider Robin Schulman sold 2,996 shares of GitLab stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $55.98, for a total value of $167,716.08. Following the transaction, the insider now owns 129,223 shares in the company, valued at $7,233,903.54. The trade was a 2.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Brian G. Robins sold 10,000 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $56.24, for a total transaction of $562,400.00. Following the sale, the chief financial officer now directly owns 267,380 shares of the company's stock, valued at approximately $15,037,451.20. The trade was a 3.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 730,257 shares of company stock valued at $44,034,967. Company insiders own 21.36% of the company's stock.

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GitLab Stock Up 1.9 %

Shares of GTLB stock traded up $0.95 on Tuesday, hitting $51.94. The stock had a trading volume of 2,593,247 shares, compared to its average volume of 3,038,674. GitLab Inc. has a one year low of $40.72 and a one year high of $74.18. The business has a 50 day moving average price of $64.20 and a 200 day moving average price of $59.11. The company has a market cap of $8.43 billion, a PE ratio of -162.31 and a beta of 0.67.

Analyst Ratings Changes

Several equities analysts have weighed in on GTLB shares. Truist Financial reaffirmed a "buy" rating and set a $90.00 price target (up previously from $80.00) on shares of GitLab in a report on Friday, December 6th. Mizuho decreased their price objective on shares of GitLab from $80.00 to $72.00 and set an "outperform" rating on the stock in a research report on Tuesday, March 4th. Morgan Stanley upped their target price on shares of GitLab from $70.00 to $77.00 and gave the stock an "overweight" rating in a report on Friday, December 6th. The Goldman Sachs Group raised their price target on GitLab from $80.00 to $88.00 and gave the company a "buy" rating in a report on Friday, December 6th. Finally, Canaccord Genuity Group boosted their price objective on GitLab from $65.00 to $78.00 and gave the company a "buy" rating in a research report on Friday, December 6th. 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 stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price 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.