Capital Fund Management S.A. Has $7 Million Position in GitLab Inc. (NASDAQ:GTLB)

Capital Fund Management S.A. reduced its stake in shares of GitLab Inc. (NASDAQ:GTLB - Free Report) by 43.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 124,180 shares of the company's stock after selling 94,167 shares during the quarter. Capital Fund Management S.A. owned about 0.08% of GitLab worth $6,998,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of GTLB. EverSource Wealth Advisors LLC increased its stake in shares of GitLab by 5,700.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 522 shares of the company's stock valued at $29,000 after buying an additional 513 shares during the period. IMG Wealth Management Inc. acquired a new stake in GitLab in the fourth quarter worth about $46,000. Raleigh Capital Management Inc. bought a new stake in GitLab during the 4th quarter worth about $66,000. Smartleaf Asset Management LLC lifted its position in GitLab by 1,067.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,261 shares of the company's stock valued at $71,000 after purchasing an additional 1,153 shares during the period. Finally, Steward Partners Investment Advisory LLC lifted its position in GitLab by 4,273.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,312 shares of the company's stock valued at $74,000 after purchasing an additional 1,282 shares during the period. Institutional investors and hedge funds own 95.04% of the company's stock.

Insider Buying and Selling

In related news, Director Matthew Jacobson sold 152,884 shares of GitLab stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $52.34, for a total value of $8,001,948.56. Following the transaction, the director now directly owns 493,554 shares of the company's stock, valued at $25,832,616.36. This trade represents a 23.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Brian G. Robins sold 10,000 shares of the company's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $70.83, for a total value of $708,300.00. Following the sale, the chief financial officer now owns 267,380 shares of the company's stock, 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 221,386 shares of company stock valued at $12,034,334 over the last quarter. 21.36% of the stock is owned by company insiders.

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GitLab Stock Down 3.4 %

Shares of NASDAQ:GTLB traded down $1.48 during trading on Wednesday, reaching $42.17. 3,647,892 shares of the company traded hands, compared to its average volume of 2,515,535. The firm has a market capitalization of $6.84 billion, a PE ratio of -131.78 and a beta of 0.79. GitLab Inc. has a 52 week low of $37.90 and a 52 week high of $74.18. The company's 50 day moving average is $54.83 and its two-hundred day moving average is $58.28.

Wall Street Analysts Forecast Growth

GTLB has been the subject of a number of recent research reports. Truist Financial dropped their price target on shares of GitLab from $90.00 to $80.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Cantor Fitzgerald reissued an "overweight" rating and issued a $80.00 price target on shares of GitLab in a research note on Tuesday, March 4th. Needham & Company LLC reaffirmed a "buy" rating and set a $85.00 price objective on shares of GitLab in a research note on Tuesday, March 4th. Wells Fargo & Company raised their target price on GitLab from $80.00 to $85.00 and gave the stock an "overweight" rating in a report on Thursday, February 20th. Finally, Macquarie reaffirmed an "outperform" rating and issued a $90.00 price target 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 assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, GitLab presently has a consensus rating of "Moderate Buy" and a consensus price target of $73.55.

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.