Edmond DE Rothschild Holding S.A. raised its position in shares of GitLab Inc. (NASDAQ:GTLB - Free Report) by 1,207.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 22,502 shares of the company's stock after buying an additional 20,781 shares during the period. Edmond DE Rothschild Holding S.A.'s holdings in GitLab were worth $1,268,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently modified their holdings of the company. Norges Bank bought a new position in shares of GitLab in the fourth quarter worth about $279,089,000. Artisan Partners Limited Partnership raised its position in GitLab by 55.7% in the 4th quarter. Artisan Partners Limited Partnership now owns 4,034,041 shares of the company's stock worth $227,318,000 after purchasing an additional 1,443,160 shares during the last quarter. ARK Investment Management LLC boosted its position in GitLab by 345.2% in the 4th quarter. ARK Investment Management LLC now owns 1,160,502 shares of the company's stock valued at $65,394,000 after buying an additional 899,823 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of GitLab by 7.2% in the 4th quarter. Vanguard Group Inc. now owns 13,142,592 shares of the company's stock valued at $740,585,000 after buying an additional 885,955 shares during the period. Finally, Pictet Asset Management Holding SA raised its position in shares of GitLab by 77.0% during the fourth quarter. Pictet Asset Management Holding SA now owns 1,921,908 shares of the company's stock worth $108,300,000 after acquiring an additional 836,114 shares during the last quarter. Institutional investors own 95.04% of the company's stock.
GitLab Trading Down 3.4 %
Shares of NASDAQ:GTLB traded down $1.44 during trading on Friday, hitting $41.09. 4,117,280 shares of the company were exchanged, compared to its average volume of 2,446,922. The stock has a market cap of $6.67 billion, a price-to-earnings ratio of -128.41 and a beta of 0.79. GitLab Inc. has a fifty-two week low of $37.90 and a fifty-two week high of $74.18. The firm has a fifty day moving average price of $59.82 and a two-hundred day moving average price of $58.89.
Wall Street Analysts Forecast Growth
GTLB has been the topic of several recent research reports. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $80.00 target price on shares of GitLab in a research note on Tuesday, March 4th. Needham & Company LLC reiterated a "buy" rating and set a $85.00 target price on shares of GitLab in a research report on Tuesday, March 4th. Wells Fargo & Company raised their price target on GitLab from $80.00 to $85.00 and gave the stock an "overweight" rating in a research report on Thursday, February 20th. DA Davidson dropped their price objective on GitLab from $70.00 to $60.00 and set a "neutral" rating for the company in a report on Friday, February 28th. Finally, Barclays decreased their target price 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. Three investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, GitLab presently has an average rating of "Moderate Buy" and an average price target of $75.09.
Get Our Latest Stock Report on GTLB
Insiders Place Their Bets
In other news, insider Sytse Sijbrandij sold 84,000 shares of GitLab stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $62.99, for a total transaction of $5,291,160.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Karen Blasing sold 6,500 shares of the stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $63.19, for a total value of $410,735.00. Following the completion of the sale, the director now owns 128,233 shares in the company, valued at approximately $8,103,043.27. This trade represents a 4.82 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 311,886 shares of company stock valued at $17,736,229. 21.36% of the stock is currently owned by corporate insiders.
GitLab Company Profile
(
Free Report)
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.
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