GitLab Inc. (NASDAQ:GTLB) Shares Purchased by Swiss National Bank

Swiss National Bank raised its position in GitLab Inc. (NASDAQ:GTLB - Free Report) by 3.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 215,000 shares of the company's stock after acquiring an additional 7,700 shares during the quarter. Swiss National Bank owned approximately 0.13% of GitLab worth $12,115,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. EverSource Wealth Advisors LLC grew its position in shares of GitLab by 5,700.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 522 shares of the company's stock valued at $29,000 after acquiring an additional 513 shares during the period. True Wealth Design LLC purchased a new stake in GitLab in the third quarter worth about $56,000. Raleigh Capital Management Inc. bought a new position in shares of GitLab in the fourth quarter worth about $66,000. Smartleaf Asset Management LLC grew its stake in shares of GitLab by 1,067.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,261 shares of the company's stock valued at $71,000 after acquiring an additional 1,153 shares during the period. Finally, Steward Partners Investment Advisory LLC grew its stake in shares of GitLab by 4,273.3% during the 4th 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. 95.04% of the stock is owned by hedge funds and other institutional investors.

GitLab Price Performance

GTLB stock traded up $1.17 during mid-day trading on Monday, reaching $52.12. The company had a trading volume of 1,903,404 shares, compared to its average volume of 2,409,705. GitLab Inc. has a 12 month low of $40.72 and a 12 month high of $74.18. The company has a market capitalization of $8.46 billion, a PE ratio of -162.88 and a beta of 0.67. The firm has a 50 day moving average of $62.77 and a 200 day moving average of $59.34.

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Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $80.00 price target on shares of GitLab in a report on Tuesday, March 4th. KeyCorp upped their target price on shares of GitLab from $74.00 to $80.00 and gave the stock an "overweight" rating in a report on Friday, December 6th. JPMorgan Chase & Co. cut their price target on GitLab from $65.00 to $62.00 and set a "neutral" rating for the company in a research note on Tuesday, March 4th. Scotiabank boosted their price objective on GitLab from $65.00 to $75.00 and gave the company a "sector outperform" rating in a research report on Wednesday, December 4th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $85.00 target price on shares of GitLab in a research report on Tuesday, March 4th. Three equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $75.52.

Insider Activity at GitLab

In other GitLab news, Director Susan L. Bostrom sold 20,000 shares of GitLab stock in a transaction dated 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 owns 204,913 shares in the company, valued at $12,333,713.47. The trade was a 8.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Brian G. Robins sold 10,000 shares of the business's stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $56.24, for a total transaction of $562,400.00. Following the completion of the transaction, the chief financial officer now owns 267,380 shares of the company's stock, valued at $15,037,451.20. This represents a 3.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 764,011 shares of company stock valued at $45,750,733 over the last ninety days. 21.36% of the stock is owned by company insiders.

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.