9,735 Shares in GitLab Inc. (NASDAQ:GTLB) Acquired by Vontobel Holding Ltd.

Vontobel Holding Ltd. purchased a new position in shares of GitLab Inc. (NASDAQ:GTLB - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 9,735 shares of the company's stock, valued at approximately $549,000.

A number of other hedge funds have also made changes to their positions in GTLB. True Wealth Design LLC purchased a new stake in GitLab during the 3rd quarter worth $56,000. Raleigh Capital Management Inc. purchased a new stake in GitLab during the 4th quarter worth $66,000. Rakuten Securities Inc. increased its stake in 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 buying an additional 1,032 shares during the period. Capital Performance Advisors LLP purchased a new stake in GitLab during the 3rd quarter worth $96,000. Finally, Wilmington Savings Fund Society FSB purchased a new stake in GitLab during the 3rd quarter worth $98,000. Hedge funds and other institutional investors own 95.04% of the company's stock.

GitLab Trading Down 4.9 %

GitLab stock traded down $3.29 during midday trading on Friday, reaching $64.16. 1,214,279 shares of the stock traded hands, compared to its average volume of 2,747,149. The firm has a fifty day moving average price of $64.00 and a two-hundred day moving average price of $57.61. The firm has a market cap of $10.41 billion, a price-to-earnings ratio of -200.03 and a beta of 0.63. GitLab Inc. has a fifty-two week low of $40.72 and a fifty-two week high of $76.41.

Insider Buying and Selling at GitLab

In other GitLab news, insider Robin Schulman sold 9,251 shares of the business's stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $70.00, for a total transaction of $647,570.00. Following the sale, the insider now directly owns 121,893 shares in the company, valued at approximately $8,532,510. The trade was a 7.05 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Brian G. Robins sold 10,000 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $70.83, for a total transaction of $708,300.00. Following the completion of the sale, the chief financial officer now owns 267,380 shares in the company, valued at $18,938,525.40. The trade was a 3.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 740,257 shares of company stock valued at $44,710,867 in the last ninety days. Company insiders own 21.36% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on GTLB. Cantor Fitzgerald raised their price objective on shares of GitLab from $75.00 to $80.00 and gave the stock an "overweight" rating in a report on Friday, December 6th. Mizuho raised their price objective on shares of GitLab from $67.00 to $80.00 and gave the stock an "outperform" rating in a report on Monday, December 9th. 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. Macquarie reissued an "outperform" rating and set a $90.00 price objective on shares of GitLab in a report on Wednesday, January 15th. Finally, Piper Sandler raised their price objective on shares of GitLab from $75.00 to $85.00 and gave the stock an "overweight" rating in a report on Friday, December 6th. Three investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, GitLab presently has an average rating of "Moderate Buy" and an average target price of $76.62.

GitLab Company 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.