8,500 Shares in GitLab Inc. (NASDAQ:GTLB) Purchased by Black Swift Group LLC

Black Swift Group LLC purchased a new position in GitLab Inc. (NASDAQ:GTLB - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 8,500 shares of the company's stock, valued at approximately $479,000.

Several other large investors also recently modified their holdings of GTLB. ARK Investment Management LLC increased its holdings in shares of GitLab by 345.2% in the fourth quarter. ARK Investment Management LLC now owns 1,160,502 shares of the company's stock worth $65,394,000 after acquiring an additional 899,823 shares in the last quarter. Los Angeles Capital Management LLC acquired a new position in shares of GitLab during the third quarter worth about $30,827,000. Atreides Management LP acquired a new position in shares of GitLab during the third quarter worth about $25,605,000. Thrivent Financial for Lutherans boosted its position in shares of GitLab by 128.8% during the third quarter. Thrivent Financial for Lutherans now owns 554,455 shares of the company's stock worth $28,577,000 after buying an additional 312,119 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. boosted its position in shares of GitLab by 6,821.7% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 297,632 shares of the company's stock worth $15,340,000 after buying an additional 293,332 shares during the period. 95.04% of the stock is currently owned by institutional investors.

GitLab Trading Down 3.2 %

Shares of GTLB traded down $1.87 during mid-day trading on Friday, reaching $56.38. The company's stock had a trading volume of 2,719,391 shares, compared to its average volume of 3,040,418. GitLab Inc. has a 1-year low of $40.72 and a 1-year high of $74.18. The stock has a market cap of $9.15 billion, a P/E ratio of -176.19 and a beta of 0.67. The business has a 50-day simple moving average of $64.31 and a two-hundred day simple moving average of $58.99.

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Insider Transactions at GitLab

In other GitLab news, insider Robin Schulman sold 2,996 shares of the firm's stock in a transaction on Friday, December 20th. The stock was sold at an average price of $55.98, for a total transaction of $167,716.08. Following the transaction, the insider now owns 129,223 shares in the company, valued at $7,233,903.54. This trade represents a 2.27 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Matthew Jacobson sold 547,679 shares of the firm's stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $59.72, for a total value of $32,707,389.88. Following the transaction, the director now owns 58,471 shares in the company, valued at approximately $3,491,888.12. This trade represents a 90.35 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 740,257 shares of company stock worth $44,710,867. Company insiders own 21.36% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. The Goldman Sachs Group upped their price objective on GitLab from $80.00 to $88.00 and gave the stock a "buy" rating in a research report on Friday, December 6th. KeyCorp upped their price objective on GitLab from $74.00 to $80.00 and gave the stock an "overweight" rating in a research report on Friday, December 6th. Barclays reduced their price objective on GitLab from $70.00 to $58.00 and set an "equal weight" rating for the company in a research report on Tuesday, March 4th. JPMorgan Chase & Co. reduced their price objective on GitLab from $65.00 to $62.00 and set a "neutral" rating for the company in a research report on Tuesday, March 4th. Finally, Robert W. Baird reduced their price target on GitLab from $80.00 to $76.00 and set an "outperform" rating for the company in a research report on Monday, March 3rd. Three analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $75.38.

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.