GitLab Inc. (NASDAQ:GTLB) Shares Acquired by Jackson Square Capital LLC

Jackson Square Capital LLC raised its holdings in GitLab Inc. (NASDAQ:GTLB - Free Report) by 328.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 36,600 shares of the company's stock after purchasing an additional 28,050 shares during the quarter. Jackson Square Capital LLC's holdings in GitLab were worth $2,062,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in GTLB. Franklin Resources Inc. increased its stake in GitLab by 0.8% in the 3rd quarter. Franklin Resources Inc. now owns 2,670,072 shares of the company's stock valued at $146,774,000 after buying an additional 21,976 shares during the period. State Street Corp increased its stake in shares of GitLab by 5.8% during the third quarter. State Street Corp now owns 2,032,206 shares of the company's stock worth $104,740,000 after acquiring an additional 111,997 shares during the period. Geode Capital Management LLC raised its holdings in GitLab by 7.0% during the third quarter. Geode Capital Management LLC now owns 2,026,567 shares of the company's stock worth $104,476,000 after purchasing an additional 132,548 shares in the last quarter. Fiera Capital Corp lifted its position in GitLab by 1.4% in the third quarter. Fiera Capital Corp now owns 1,259,429 shares of the company's stock valued at $64,911,000 after purchasing an additional 16,961 shares during the period. Finally, Bamco Inc. NY boosted its holdings in GitLab by 0.4% in the 3rd quarter. Bamco Inc. NY now owns 1,253,244 shares of the company's stock valued at $64,592,000 after purchasing an additional 4,874 shares in the last quarter. 95.04% of the stock is owned by hedge funds and other institutional investors.

GitLab Trading Down 1.8 %

GTLB traded down $1.18 during trading on Friday, hitting $63.02. 1,730,922 shares of the company's stock were exchanged, compared to its average volume of 2,298,061. The stock has a 50 day moving average price of $61.30 and a 200 day moving average price of $54.82. GitLab Inc. has a 1 year low of $40.72 and a 1 year high of $78.53. The firm has a market cap of $10.23 billion, a P/E ratio of -196.94 and a beta of 0.57.

Insider Buying and Selling

In other GitLab news, insider Robin Schulman sold 2,996 shares of the business's stock in a transaction on Friday, December 20th. The shares were sold at an average price of $55.98, for a total value of $167,716.08. Following the transaction, the insider now owns 129,223 shares in the company, valued at $7,233,903.54. The trade was a 2.27 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Brian G. Robins sold 16,666 shares of the company's stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $56.74, for a total transaction of $945,628.84. Following the completion of the transaction, the chief financial officer now directly owns 242,803 shares of the company's stock, valued at approximately $13,776,642.22. The trade was a 6.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 816,447 shares of company stock valued at $48,948,434. Company insiders own 21.36% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on GTLB shares. Truist Financial reissued a "buy" rating and set a $90.00 target price (up from $80.00) on shares of GitLab in a research note on Friday, December 6th. Royal Bank of Canada raised their target price on GitLab from $73.00 to $80.00 and gave the company an "outperform" rating in a report on Friday, December 6th. Scotiabank increased their price target on shares of GitLab from $65.00 to $75.00 and gave the company a "sector outperform" rating in a report on Wednesday, December 4th. Macquarie reiterated an "outperform" rating and issued a $90.00 price objective on shares of GitLab in a research note on Wednesday. Finally, JPMorgan Chase & Co. upped their target price on shares of GitLab from $60.00 to $65.00 and gave the stock a "neutral" rating in a research report on Friday, December 6th. Three equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $76.42.

About GitLab

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.