Vestor Capital LLC Buys New Stake in GitLab Inc. (NASDAQ:GTLB)

Vestor Capital LLC acquired a new position in GitLab Inc. (NASDAQ:GTLB - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 44,851 shares of the company's stock, valued at approximately $2,527,000.

Other large investors also recently added to or reduced their stakes in the company. Y Intercept Hong Kong Ltd bought a new position in GitLab during the 3rd quarter worth approximately $678,000. State Street Corp grew its holdings in shares of GitLab by 5.8% in the third quarter. State Street Corp now owns 2,032,206 shares of the company's stock worth $104,740,000 after purchasing an additional 111,997 shares during the last quarter. Barclays PLC increased its stake in shares of GitLab by 189.1% in the third quarter. Barclays PLC now owns 61,419 shares of the company's stock worth $3,164,000 after buying an additional 40,171 shares during the period. Oddo BHF Asset Management Sas bought a new stake in GitLab during the 3rd quarter valued at $6,865,000. Finally, Swiss National Bank boosted its position in GitLab by 3.7% during the 4th quarter. Swiss National Bank now owns 215,000 shares of the company's stock valued at $12,115,000 after buying an additional 7,700 shares during the period. Hedge funds and other institutional investors own 95.04% of the company's stock.

Insider Activity at GitLab

In other news, Director Matthew Jacobson sold 547,679 shares of GitLab stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $59.72, for a total transaction of $32,707,389.88. Following the transaction, the director now owns 58,471 shares in the company, valued at $3,491,888.12. This trade represents a 90.35 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Brian G. Robins sold 10,000 shares of GitLab stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $70.83, for a total value of $708,300.00. Following the transaction, the chief financial officer now owns 267,380 shares in the company, valued at $18,938,525.40. This trade represents a 3.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 896,895 shares of company stock worth $52,548,882. 21.36% of the stock is owned by insiders.

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Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on GTLB shares. Morgan Stanley increased their target price on shares of GitLab from $70.00 to $77.00 and gave the stock an "overweight" rating in a report on Friday, December 6th. Mizuho cut their price objective on GitLab from $80.00 to $72.00 and set an "outperform" rating on the stock in a research report on Tuesday, March 4th. Truist Financial restated a "buy" rating and set a $90.00 target price (up previously from $80.00) on shares of GitLab in a report on Friday, December 6th. Robert W. Baird dropped their price target on GitLab from $80.00 to $76.00 and set an "outperform" rating for the company in a research note on Monday, March 3rd. Finally, Royal Bank of Canada reissued an "outperform" rating and set a $80.00 price objective on shares of GitLab in a research report on Tuesday, March 4th. Three analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $75.52.

GitLab Trading Down 3.3 %

GTLB stock traded down $1.73 on Wednesday, hitting $51.40. The company had a trading volume of 1,255,015 shares, compared to its average volume of 2,409,036. GitLab Inc. has a 12-month low of $40.72 and a 12-month high of $74.18. The stock has a market cap of $8.34 billion, a price-to-earnings ratio of -160.63 and a beta of 0.67. The stock's 50-day simple moving average is $62.50 and its 200 day simple moving average is $59.32.

About GitLab

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.