Trexquant Investment LP Has $1.71 Million Position in GitLab Inc. (NASDAQ:GTLB)

Trexquant Investment LP decreased its stake in shares of GitLab Inc. (NASDAQ:GTLB - Free Report) by 88.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 30,388 shares of the company's stock after selling 232,214 shares during the period. Trexquant Investment LP's holdings in GitLab were worth $1,712,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Y Intercept Hong Kong Ltd bought a new stake in shares of GitLab in the 3rd quarter worth $678,000. State Street Corp raised its position in 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 acquiring an additional 111,997 shares in the last quarter. Barclays PLC grew its stake in shares of GitLab by 189.1% in the 3rd quarter. Barclays PLC now owns 61,419 shares of the company's stock worth $3,164,000 after purchasing an additional 40,171 shares during the last quarter. Oddo BHF Asset Management Sas bought a new stake in shares of GitLab in the 3rd quarter worth approximately $6,865,000. Finally, Swiss National Bank lifted its stake in GitLab by 3.7% during the fourth quarter. Swiss National Bank now owns 215,000 shares of the company's stock valued at $12,115,000 after purchasing an additional 7,700 shares during the last quarter. 95.04% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

GTLB has been the subject of several research reports. Mizuho reduced their price objective on GitLab from $80.00 to $72.00 and set an "outperform" rating for the company in a research note on Tuesday, March 4th. Truist Financial decreased their price target on GitLab from $90.00 to $80.00 and set a "buy" rating for the company in a research report on Monday, March 31st. JPMorgan Chase & Co. cut their price objective on GitLab from $65.00 to $62.00 and set a "neutral" rating on the stock in a report on Tuesday, March 4th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $80.00 target price on shares of GitLab in a report on Tuesday, March 4th. Finally, Royal Bank of Canada restated an "outperform" rating and set a $80.00 price target on shares of GitLab in a report on Tuesday, March 4th. Three 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 stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $75.32.

Remove Ads

Insiders Place Their Bets

In other GitLab news, CFO Brian G. Robins sold 10,000 shares of the business's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $70.83, for a total transaction of $708,300.00. Following the completion of the transaction, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Matthew Jacobson sold 152,884 shares of the firm's stock in a transaction dated 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 completion of the sale, the director now directly owns 493,554 shares in the company, valued at approximately $25,832,616.36. This represents a 23.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 311,886 shares of company stock valued at $17,736,229 over the last quarter. Insiders own 21.36% of the company's stock.

GitLab Price Performance

NASDAQ:GTLB traded up $1.29 during trading hours on Monday, reaching $43.21. The company's stock had a trading volume of 338,827 shares, compared to its average volume of 2,498,967. The company has a market cap of $7.01 billion, a price-to-earnings ratio of -135.03 and a beta of 0.79. GitLab Inc. has a one year low of $37.90 and a one year high of $74.18. The business's 50-day moving average is $56.00 and its 200-day moving average is $58.45.

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.