Worldquant Millennium Advisors LLC Acquires 29,803 Shares of GitLab Inc. (NASDAQ:GTLB)

Worldquant Millennium Advisors LLC raised its holdings in shares of GitLab Inc. (NASDAQ:GTLB) by 309.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 39,434 shares of the company’s stock after acquiring an additional 29,803 shares during the quarter. Worldquant Millennium Advisors LLC’s holdings in GitLab were worth $2,032,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Washington Harbour Partners LP bought a new position in shares of GitLab in the third quarter worth $3,489,000. State Street Corp increased 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 period. Quarry LP increased its holdings in shares of GitLab by 56.3% in the third quarter. Quarry LP now owns 2,793 shares of the company’s stock worth $144,000 after purchasing an additional 1,006 shares during the period. Point72 DIFC Ltd bought a new position in shares of GitLab in the third quarter worth $2,168,000. Finally, Mission Creek Capital Partners Inc. increased its holdings in shares of GitLab by 113.9% in the third quarter. Mission Creek Capital Partners Inc. now owns 79,917 shares of the company’s stock worth $4,119,000 after purchasing an additional 42,550 shares during the period. Institutional investors own 91.72% of the company’s stock.

Insider Buying and Selling at GitLab

In related news, CEO Sytse Sijbrandij sold 84,776 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $59.64, for a total value of $5,056,040.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Erin Mannix sold 1,433 shares of GitLab stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $52.80, for a total transaction of $75,662.40. Following the transaction, the chief accounting officer now directly owns 72,448 shares of the company’s stock, valued at approximately $3,825,254.40. This trade represents a 1.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 168,365 shares of company stock valued at $9,674,784. 21.36% of the stock is currently owned by corporate insiders.

GitLab Price Performance

Shares of NASDAQ GTLB opened at $67.19 on Monday. GitLab Inc. has a 1 year low of $40.72 and a 1 year high of $78.53. The stock has a market capitalization of $10.78 billion, a P/E ratio of -209.97 and a beta of 0.54. The company’s 50-day moving average is $57.91 and its 200 day moving average is $52.20.

Analyst Ratings Changes

Several research firms have recently weighed in on GTLB. Scotiabank upped their price target 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. JPMorgan Chase & Co. upped their target price on shares of GitLab from $60.00 to $65.00 and gave the stock a “neutral” rating in a research report on Friday. The Goldman Sachs Group upped their target price on shares of GitLab from $80.00 to $88.00 and gave the stock a “buy” rating in a research report on Friday. Baird R W upgraded shares of GitLab to a “strong-buy” rating in a research report on Tuesday, August 27th. Finally, Robert W. Baird upped their target price on shares of GitLab from $62.00 to $75.00 and gave the stock an “outperform” rating in a research report on Friday. Three research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, GitLab currently has a consensus rating of “Moderate Buy” and a consensus target price of $74.56.

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.