Wildcat Capital Management LLC bought a new position in shares of GitLab Inc. (NASDAQ:GTLB - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 11,399 shares of the company's stock, valued at approximately $642,000. GitLab accounts for 0.3% of Wildcat Capital Management LLC's investment portfolio, making the stock its 6th biggest position.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Y Intercept Hong Kong Ltd bought a new stake in shares of GitLab during the 3rd quarter valued at $678,000. State Street Corp grew its holdings in GitLab by 5.8% during the 3rd quarter. State Street Corp now owns 2,032,206 shares of the company's stock valued at $104,740,000 after buying an additional 111,997 shares in the last quarter. Barclays PLC increased its position in shares of GitLab by 189.1% during the third quarter. Barclays PLC now owns 61,419 shares of the company's stock valued at $3,164,000 after buying an additional 40,171 shares during the period. Oddo BHF Asset Management Sas purchased a new stake in shares of GitLab in the third quarter worth about $6,865,000. Finally, Barton Investment Management boosted its position in shares of GitLab by 99.4% in the fourth quarter. Barton Investment Management now owns 335,648 shares of the company's stock valued at $18,914,000 after acquiring an additional 167,290 shares during the period. Institutional investors own 95.04% of the company's stock.
Analyst Upgrades and Downgrades
A number of analysts recently weighed in on the stock. Scotiabank upped their target price on shares of GitLab from $65.00 to $75.00 and gave the stock a "sector outperform" rating in a report on Wednesday, December 4th. KeyCorp increased their price objective on GitLab from $74.00 to $80.00 and gave the stock an "overweight" rating in a research report on Friday, December 6th. Barclays boosted their target price on GitLab from $55.00 to $70.00 and gave the stock an "equal weight" rating in a research report on Monday, December 9th. Mizuho raised their price target on GitLab from $67.00 to $80.00 and gave the company an "outperform" rating in a report on Monday, December 9th. Finally, Truist Financial reissued a "buy" rating and set a $90.00 price objective (up previously from $80.00) on shares of GitLab in a report on Friday, December 6th. Three research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $76.42.
Get Our Latest Stock Analysis on GTLB
Insider Buying and Selling at GitLab
In other GitLab news, CEO Sytse Sijbrandij sold 84,776 shares of GitLab stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $59.64, for a total transaction of $5,056,040.64. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Robin Schulman sold 2,996 shares of GitLab stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $55.98, for a total value of $167,716.08. Following the sale, the insider now owns 129,223 shares in the company, valued at $7,233,903.54. This represents a 2.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 825,033 shares of company stock worth $49,766,908. 21.36% of the stock is currently owned by company insiders.
GitLab Stock Down 3.9 %
Shares of NASDAQ GTLB traded down $2.73 during mid-day trading on Friday, hitting $67.83. The stock had a trading volume of 3,041,041 shares, compared to its average volume of 2,988,038. The business has a 50 day moving average price of $63.47 and a two-hundred day moving average price of $57.11. GitLab Inc. has a 1 year low of $40.72 and a 1 year high of $76.58.
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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