Blue Owl Capital Holdings LP Invests $568,000 in GitLab Inc. (NASDAQ:GTLB)

Blue Owl Capital Holdings LP acquired a new position in shares of GitLab Inc. (NASDAQ:GTLB - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 10,076 shares of the company's stock, valued at approximately $568,000.

Several other hedge funds have also added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC increased its stake in shares of GitLab by 5,700.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 522 shares of the company's stock worth $29,000 after purchasing an additional 513 shares during the last quarter. IMG Wealth Management Inc. bought a new stake in shares of GitLab in the 4th quarter worth approximately $46,000. Raleigh Capital Management Inc. bought a new stake in shares of GitLab in the 4th quarter worth approximately $66,000. Smartleaf Asset Management LLC raised its holdings in shares of GitLab by 1,067.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,261 shares of the company's stock worth $71,000 after purchasing an additional 1,153 shares during the period. Finally, Steward Partners Investment Advisory LLC raised its holdings in shares of GitLab by 4,273.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,312 shares of the company's stock worth $74,000 after purchasing an additional 1,282 shares during the period. Institutional investors own 95.04% of the company's stock.

GitLab Trading Down 0.7 %

Shares of GitLab stock traded down $0.35 during trading on Tuesday, hitting $46.61. The stock had a trading volume of 527,956 shares, compared to its average volume of 2,850,509. GitLab Inc. has a 12 month low of $37.90 and a 12 month high of $74.18. The business's 50-day moving average is $50.14 and its 200 day moving average is $57.85. The firm has a market cap of $7.56 billion, a price-to-earnings ratio of -145.67 and a beta of 0.79.

Wall Street Analysts Forecast Growth

GTLB has been the topic of a number of research reports. Mizuho lowered their price target on shares of GitLab from $80.00 to $72.00 and set an "outperform" rating on the stock in a report on Tuesday, March 4th. Morgan Stanley lowered their price target on shares of GitLab from $77.00 to $53.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $80.00 price target on shares of GitLab in a report on Tuesday, March 4th. Truist Financial lowered their price target on shares of GitLab from $90.00 to $80.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Finally, DA Davidson lowered their target price on shares of GitLab from $60.00 to $45.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Three investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $71.73.

Insider Buying and Selling

In related news, insider Sytse Sijbrandij sold 108,600 shares of the company'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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brian G. Robins sold 10,000 shares of the company's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $70.83, for a total transaction of $708,300.00. Following the sale, the chief financial officer now owns 267,380 shares of the company's stock, valued at approximately $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. Over the last ninety days, insiders sold 314,734 shares of company stock worth $15,587,381. Corporate insiders own 21.36% of the company's stock.

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.