GitLab Inc. (NASDAQ:GTLB) Shares Acquired by Barton Investment Management

Barton Investment Management grew its position in shares of GitLab Inc. (NASDAQ:GTLB - Free Report) by 99.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 335,648 shares of the company's stock after acquiring an additional 167,290 shares during the quarter. GitLab comprises about 2.0% of Barton Investment Management's investment portfolio, making the stock its 9th largest holding. Barton Investment Management owned about 0.21% of GitLab worth $18,914,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Bank of Marin grew its stake in shares of GitLab by 3.0% in the third quarter. Bank of Marin now owns 5,856 shares of the company's stock worth $302,000 after purchasing an additional 171 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in GitLab by 0.3% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 91,445 shares of the company's stock worth $4,713,000 after purchasing an additional 281 shares during the period. Glenmede Trust Co. NA increased its stake in GitLab by 3.0% during the 3rd quarter. Glenmede Trust Co. NA now owns 11,564 shares of the company's stock valued at $596,000 after buying an additional 334 shares during the period. Blue Trust Inc. increased its stake in GitLab by 18.2% during the 3rd quarter. Blue Trust Inc. now owns 3,166 shares of the company's stock valued at $157,000 after buying an additional 488 shares during the period. Finally, Park Avenue Securities LLC raised its position in shares of GitLab by 21.6% during the 3rd quarter. Park Avenue Securities LLC now owns 4,995 shares of the company's stock worth $257,000 after buying an additional 887 shares in the last quarter. Institutional investors own 95.04% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently commented on GTLB shares. Needham & Company LLC reiterated a "buy" rating and set a $85.00 price objective on shares of GitLab in a research note on Tuesday, January 7th. Scotiabank raised their price objective on shares of GitLab from $65.00 to $75.00 and gave the company a "sector outperform" rating in a research report on Wednesday, December 4th. Barclays lifted their price target on shares of GitLab from $55.00 to $70.00 and gave the stock an "equal weight" rating in a research report on Monday, December 9th. Piper Sandler raised their price objective on GitLab from $75.00 to $85.00 and gave the stock an "overweight" rating in a research note on Friday, December 6th. Finally, Morgan Stanley boosted 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. 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 stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $76.42.

GitLab Price Performance

NASDAQ:GTLB traded down $0.90 during trading hours on Friday, reaching $70.55. The company's stock had a trading volume of 2,056,485 shares, compared to its average volume of 2,988,038. The company has a market cap of $11.45 billion, a price-to-earnings ratio of -220.47 and a beta of 0.63. The business's 50-day moving average is $63.04 and its 200-day moving average is $56.50. GitLab Inc. has a one year low of $40.72 and a one year high of $78.53.

Insiders Place Their Bets

In other news, Director Karen Blasing sold 3,250 shares of the firm's stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $59.41, for a total value of $193,082.50. Following the sale, the director now directly owns 137,983 shares of the company's stock, valued at approximately $8,197,570.03. This trade represents a 2.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Brian G. Robins sold 10,000 shares of GitLab stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $70.83, for a total value of $708,300.00. Following the completion of the transaction, the chief financial officer now owns 267,380 shares in the company, 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 828,283 shares of company stock valued at $49,959,990 over the last 90 days. 21.36% of the stock is currently owned by company insiders.

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.