Arnhold LLC Acquires 12,090 Shares of GitLab Inc. (NASDAQ:GTLB)

Arnhold LLC raised its holdings in GitLab Inc. (NASDAQ:GTLB - Free Report) by 112.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,865 shares of the company's stock after buying an additional 12,090 shares during the quarter. Arnhold LLC's holdings in GitLab were worth $1,288,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Barclays PLC boosted 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 valued at $3,164,000 after purchasing an additional 40,171 shares in the last quarter. Oddo BHF Asset Management Sas acquired a new position in GitLab during the 3rd quarter worth about $6,865,000. Swiss National Bank lifted its position in GitLab by 3.7% during the 4th quarter. Swiss National Bank now owns 215,000 shares of the company's stock worth $12,115,000 after buying an additional 7,700 shares in the last quarter. Barton Investment Management lifted its position in GitLab by 99.4% during the 4th quarter. Barton Investment Management now owns 335,648 shares of the company's stock worth $18,914,000 after buying an additional 167,290 shares in the last quarter. Finally, Jackson Square Capital LLC lifted its position in GitLab by 328.1% during the 4th quarter. Jackson Square Capital LLC now owns 36,600 shares of the company's stock worth $2,062,000 after buying an additional 28,050 shares in the last quarter. Institutional investors own 95.04% of the company's stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Macquarie reiterated an "outperform" rating and set a $90.00 price target on shares of GitLab in a research report on Tuesday, March 4th. JPMorgan Chase & Co. reduced their price target on shares of GitLab from $65.00 to $62.00 and set a "neutral" rating on the stock in a research report 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. Morgan Stanley reduced their price target on shares of GitLab from $77.00 to $53.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $85.00 target price on shares of GitLab in a research note on Tuesday, March 4th. Three research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, GitLab has an average rating of "Moderate Buy" and a consensus target price of $71.73.

Insider Activity at GitLab

In related news, insider Sytse Sijbrandij sold 108,600 shares of the business's stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $42.87, for a total value of $4,655,682.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Matthew Jacobson sold 152,884 shares of the business's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $52.34, for a total transaction of $8,001,948.56. Following the completion of the sale, the director now directly owns 493,554 shares in the company, valued at $25,832,616.36. This represents a 23.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 323,985 shares of company stock valued at $16,234,951. 21.36% of the stock is owned by corporate insiders.

GitLab Price Performance

Shares of NASDAQ GTLB traded down $0.20 during midday trading on Monday, reaching $46.96. 2,074,190 shares of the stock were exchanged, compared to its average volume of 2,539,974. The company has a market capitalization of $7.62 billion, a price-to-earnings ratio of -146.75 and a beta of 0.79. GitLab Inc. has a 12 month low of $37.90 and a 12 month high of $74.18. The business has a 50-day simple moving average of $50.60 and a two-hundred day simple moving average of $57.90.

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.