Marshall Wace LLP Has $61.65 Million Stock Position in GitLab Inc. (NASDAQ:GTLB)

Marshall Wace LLP boosted its position in GitLab Inc. (NASDAQ:GTLB - Free Report) by 572.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,094,128 shares of the company's stock after buying an additional 931,396 shares during the quarter. Marshall Wace LLP owned approximately 0.67% of GitLab worth $61,654,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of GTLB. EverSource Wealth Advisors LLC increased its stake in GitLab by 5,700.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 522 shares of the company's stock valued at $29,000 after purchasing an additional 513 shares during the last quarter. IMG Wealth Management Inc. bought a new stake in shares of GitLab during the 4th quarter valued at about $46,000. Raleigh Capital Management Inc. acquired a new stake in GitLab during the fourth quarter worth about $66,000. Smartleaf Asset Management LLC lifted its holdings in GitLab by 1,067.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,261 shares of the company's stock worth $71,000 after acquiring an additional 1,153 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC boosted its stake in GitLab by 4,273.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,312 shares of the company's stock valued at $74,000 after acquiring an additional 1,282 shares during the period. Institutional investors and hedge funds own 95.04% of the company's stock.

GitLab Stock Up 4.0 %

NASDAQ GTLB traded up $1.67 during trading on Wednesday, hitting $43.22. The company's stock had a trading volume of 1,100,898 shares, compared to its average volume of 2,530,704. GitLab Inc. has a 52 week low of $37.90 and a 52 week high of $74.18. The firm has a market cap of $7.01 billion, a P/E ratio of -135.06 and a beta of 0.79. The firm has a 50 day moving average price of $52.03 and a 200 day moving average price of $58.00.

Wall Street Analyst Weigh In

GTLB has been the topic of several recent research reports. Barclays cut their price target on GitLab from $70.00 to $58.00 and set an "equal weight" rating on the stock in a report on Tuesday, March 4th. Wells Fargo & Company cut their price objective on shares of GitLab from $85.00 to $65.00 and set an "overweight" rating on the stock in a research report on Tuesday. Morgan Stanley decreased their target price on shares of GitLab from $77.00 to $53.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. KeyCorp reduced their price objective on GitLab from $80.00 to $60.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Finally, JPMorgan Chase & Co. reduced their price target on GitLab from $65.00 to $62.00 and set a "neutral" rating for the company in a research report on Tuesday, March 4th. Three investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, GitLab has an average rating of "Moderate Buy" and an average price target of $71.73.

Insider Activity at GitLab

In other news, CFO Brian G. Robins sold 10,000 shares of GitLab stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $70.83, for a total transaction of $708,300.00. Following the sale, the chief financial officer now owns 267,380 shares of the company's stock, valued at approximately $18,938,525.40. This trade represents a 3.61 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Sytse Sijbrandij sold 108,600 shares of the company's stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $42.87, for a total value of $4,655,682.00. The disclosure for this sale can be found here. Insiders sold a total of 320,735 shares of company stock worth $16,088,701 in the last ninety days. 21.36% of the stock is currently owned by 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.