XTX Topco Ltd bought a new stake in shares of GitLab Inc. (NASDAQ:GTLB - Free Report) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 10,311 shares of the company's stock, valued at approximately $531,000.
A number of other hedge funds have also made changes to their positions in GTLB. Future Financial Wealth Managment LLC bought a new position in GitLab during the 3rd quarter valued at $52,000. True Wealth Design LLC acquired a new stake in shares of GitLab in the 3rd quarter valued at about $56,000. Rakuten Securities Inc. lifted its position in shares of GitLab by 268.1% during the third quarter. Rakuten Securities Inc. now owns 1,417 shares of the company's stock worth $73,000 after purchasing an additional 1,032 shares during the last quarter. Quarry LP grew its stake in GitLab by 527.0% in the second quarter. Quarry LP now owns 1,787 shares of the company's stock worth $89,000 after purchasing an additional 1,502 shares in the last quarter. Finally, Capital Performance Advisors LLP bought a new stake in GitLab in the third quarter valued at about $96,000. Institutional investors and hedge funds own 95.04% of the company's stock.
Analyst Upgrades and Downgrades
A number of research firms have commented on GTLB. Macquarie initiated coverage on GitLab in a report on Thursday. They set an "outperform" rating and a $90.00 target price on the stock. Bank of America lifted their price objective on shares of GitLab from $66.00 to $68.00 and gave the stock a "buy" rating in a report on Wednesday, September 4th. 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. The Goldman Sachs Group lifted their price target on shares of GitLab from $80.00 to $88.00 and gave the company a "buy" rating in a report on Friday, December 6th. Finally, DA Davidson raised their target price on shares of GitLab from $50.00 to $70.00 and gave the stock a "neutral" rating in a report on Friday, December 6th. Three equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, GitLab presently has an average rating of "Moderate Buy" and an average target price of $76.42.
Read Our Latest Research Report on GTLB
Insider Buying and Selling
In related news, CFO Brian G. Robins sold 10,000 shares of the firm's stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $67.59, for a total transaction of $675,900.00. Following the completion of the sale, the chief financial officer now directly 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Sytse Sijbrandij sold 84,776 shares of the company's stock in a transaction on Monday, November 18th. The shares were sold at an average price of $59.64, for a total value of $5,056,040.64. The disclosure for this sale can be found here. Insiders have sold a total of 178,365 shares of company stock valued at $10,350,684 over the last three months. Company insiders own 21.36% of the company's stock.
GitLab Price Performance
Shares of GTLB traded down $2.44 during midday trading on Friday, reaching $58.60. The stock had a trading volume of 3,384,200 shares, compared to its average volume of 2,430,599. The company has a market capitalization of $9.51 billion, a P/E ratio of -183.13 and a beta of 0.54. The firm's 50 day moving average price is $59.08 and its 200-day moving average price is $52.46. GitLab Inc. has a 52 week low of $40.72 and a 52 week high of $78.53.
GitLab Profile
(
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.
Further Reading
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