Green Alpha Advisors LLC Makes New $569,000 Investment in GitLab Inc. (NASDAQ:GTLB)

Green Alpha Advisors LLC acquired a new stake in shares of GitLab Inc. (NASDAQ:GTLB - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 10,098 shares of the company's stock, valued at approximately $569,000.

Several other large investors have also recently modified their holdings of the stock. Rhumbline Advisers increased its stake in shares of GitLab by 21.9% in the second quarter. Rhumbline Advisers now owns 128,193 shares of the company's stock worth $6,374,000 after buying an additional 22,989 shares during the period. Acadian Asset Management LLC raised its stake in shares of GitLab by 3,424.5% during the second quarter. Acadian Asset Management LLC now owns 18,257 shares of the company's stock valued at $907,000 after acquiring an additional 17,739 shares during the last quarter. Daiwa Securities Group Inc. bought a new position in shares of GitLab during the second quarter valued at about $209,000. DekaBank Deutsche Girozentrale boosted its holdings in shares of GitLab by 13.3% during the second quarter. DekaBank Deutsche Girozentrale now owns 249,602 shares of the company's stock worth $12,306,000 after purchasing an additional 29,375 shares during the period. Finally, Federated Hermes Inc. grew its stake in shares of GitLab by 10.1% in the second quarter. Federated Hermes Inc. now owns 308,859 shares of the company's stock worth $15,356,000 after purchasing an additional 28,431 shares during the last quarter. Hedge funds and other institutional investors own 95.04% of the company's stock.

Insider Activity

In other news, Director Susan L. Bostrom sold 20,000 shares of the firm's stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $60.19, for a total value of $1,203,800.00. Following the transaction, the director now directly owns 204,913 shares in the company, valued at $12,333,713.47. This trade represents a 8.89 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Sytse Sijbrandij sold 56,000 shares of the company's stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $54.68, for a total value of $3,062,080.00. The disclosure for this sale can be found here. Insiders have sold a total of 785,197 shares of company stock valued at $46,486,459 over the last ninety days. 21.36% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

GTLB has been the topic of several research analyst reports. Robert W. Baird boosted their target price on GitLab from $62.00 to $75.00 and gave the company an "outperform" rating in a research note on Friday, December 6th. DA Davidson raised their target price on shares of GitLab from $50.00 to $70.00 and gave the stock a "neutral" rating in a research report on Friday, December 6th. TD Cowen boosted their price target on shares of GitLab from $63.00 to $70.00 and gave the company a "buy" rating in a research report on Thursday, November 21st. Canaccord Genuity Group raised their price objective on shares of GitLab from $65.00 to $78.00 and gave the stock a "buy" rating in a report on Friday, December 6th. Finally, KeyCorp upped their target price on GitLab from $74.00 to $80.00 and gave the stock an "overweight" rating in a report on Friday, December 6th. Three 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's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $76.42.

GitLab Trading Down 4.2 %

GTLB traded down $2.53 during trading on Monday, hitting $57.41. 543,327 shares of the company's stock traded hands, compared to its average volume of 1,968,359. The stock has a market capitalization of $9.32 billion, a price-to-earnings ratio of -179.41 and a beta of 0.57. The company's 50 day simple moving average is $61.01 and its two-hundred day simple moving average is $54.44. GitLab Inc. has a 12-month low of $40.72 and a 12-month high of $78.53.

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.