Oak Harvest Investment Services purchased a new stake in GitLab Inc. (NASDAQ:GTLB - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 30,833 shares of the company's stock, valued at approximately $1,737,000.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bank of Marin boosted its position in shares of GitLab by 3.0% in the third quarter. Bank of Marin now owns 5,856 shares of the company's stock valued at $302,000 after acquiring an additional 171 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in shares of GitLab by 0.3% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 91,445 shares of the company's stock valued at $4,713,000 after buying an additional 281 shares in the last quarter. Glenmede Trust Co. NA boosted its stake in shares of GitLab by 3.0% in the third 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. grew its position in GitLab by 18.2% during the third quarter. Blue Trust Inc. now owns 3,166 shares of the company's stock worth $157,000 after buying an additional 488 shares in the last quarter. Finally, Park Avenue Securities LLC lifted 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 valued at $257,000 after acquiring an additional 887 shares during the period. 95.04% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of equities research analysts have issued reports on GTLB shares. Canaccord Genuity Group increased their price objective on shares of GitLab from $65.00 to $78.00 and gave the stock a "buy" rating in a research note on Friday, December 6th. Wells Fargo & Company lifted their price objective on shares of GitLab from $75.00 to $80.00 and gave the company an "overweight" rating in a research note on Friday, December 6th. JPMorgan Chase & Co. boosted their price objective on shares of GitLab from $60.00 to $65.00 and gave the company a "neutral" rating in a research report on Friday, December 6th. Robert W. Baird raised their target price on GitLab from $62.00 to $75.00 and gave the company an "outperform" rating in a report on Friday, December 6th. Finally, Macquarie reissued an "outperform" rating and set a $90.00 price target on shares of GitLab in a report on Wednesday, January 15th. Three investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $76.42.
View Our Latest Analysis on GTLB
Insider Buying and Selling at GitLab
In related news, insider Robin Schulman sold 9,251 shares of the company's stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $70.00, for a total transaction of $647,570.00. Following the completion of the sale, the insider now owns 121,893 shares in the company, valued at approximately $8,532,510. This represents a 7.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Brian G. Robins sold 10,000 shares of the business's stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $67.59, for a total transaction of $675,900.00. Following the transaction, the chief financial officer now owns 242,803 shares in the company, valued at approximately $16,411,054.77. This trade represents a 3.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 818,283 shares of company stock valued at $49,251,690. 21.36% of the stock is currently owned by insiders.
GitLab Price Performance
Shares of GTLB traded down $2.04 during trading hours on Monday, hitting $70.72. 2,910,232 shares of the stock were exchanged, compared to its average volume of 3,035,925. GitLab Inc. has a fifty-two week low of $40.72 and a fifty-two week high of $78.53. The business has a 50-day moving average of $62.38 and a 200-day moving average of $55.90. The firm has a market capitalization of $11.48 billion, a P/E ratio of -221.00 and a beta of 0.63.
About GitLab
(
Free Report)
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.
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