New York State Common Retirement Fund Increases Position in GitLab Inc. (NASDAQ:GTLB)

New York State Common Retirement Fund lifted its holdings in shares of GitLab Inc. (NASDAQ:GTLB - Free Report) by 10.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 557,923 shares of the company's stock after purchasing an additional 53,849 shares during the period. New York State Common Retirement Fund owned about 0.34% of GitLab worth $31,439,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Y Intercept Hong Kong Ltd purchased a new position in GitLab in the 3rd quarter worth approximately $678,000. State Street Corp grew its holdings in shares of GitLab by 5.8% in the third quarter. State Street Corp now owns 2,032,206 shares of the company's stock worth $104,740,000 after purchasing an additional 111,997 shares during the last quarter. Barclays PLC raised its holdings in GitLab by 189.1% during the 3rd quarter. Barclays PLC now owns 61,419 shares of the company's stock valued at $3,164,000 after buying an additional 40,171 shares during the last quarter. Oddo BHF Asset Management Sas purchased a new stake in GitLab during the 3rd quarter valued at $6,865,000. Finally, Barton Investment Management grew its holdings in GitLab by 99.4% in the 4th quarter. Barton Investment Management now owns 335,648 shares of the company's stock worth $18,914,000 after acquiring an additional 167,290 shares during the last quarter. Institutional investors own 95.04% of the company's stock.

Insider Buying and Selling at GitLab

In related news, CFO Brian G. Robins sold 10,000 shares of GitLab stock in a transaction on Monday, December 9th. The stock was sold at an average price of $67.59, for a total value of $675,900.00. Following the completion of the sale, the chief financial officer now owns 242,803 shares of the company's stock, valued at $16,411,054.77. The trade was a 3.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Robin Schulman sold 2,996 shares of the firm's stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $55.98, for a total value of $167,716.08. Following the completion of the transaction, the insider now directly owns 129,223 shares in the company, valued at $7,233,903.54. The trade was a 2.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 740,257 shares of company stock worth $44,710,867. Insiders own 21.36% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on GTLB. Needham & Company LLC reaffirmed a "buy" rating and issued a $85.00 price target on shares of GitLab in a research note on Tuesday, January 7th. Macquarie reiterated an "outperform" rating and set a $90.00 price target on shares of GitLab in a research report on Wednesday, January 15th. Canaccord Genuity Group lifted their price objective on GitLab from $65.00 to $78.00 and gave the company a "buy" rating in a research report on Friday, December 6th. Morgan Stanley increased their target price on GitLab from $70.00 to $77.00 and gave the stock an "overweight" rating in a research report on Friday, December 6th. Finally, TD Cowen increased their price objective on GitLab from $63.00 to $70.00 and gave the stock a "buy" rating in a report on Thursday, November 21st. Three investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $76.62.

GitLab Price Performance

GitLab stock traded down $3.33 during midday trading on Friday, reaching $64.12. 2,127,843 shares of the company traded hands, compared to its average volume of 2,777,022. GitLab Inc. has a 12 month low of $40.72 and a 12 month high of $76.41. The business has a 50 day moving average of $64.00 and a two-hundred day moving average of $57.61. The firm has a market capitalization of $10.41 billion, a price-to-earnings ratio of -200.38 and a beta of 0.63.

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.