Union Bancaire Privee UBP SA Takes $3.61 Million Position in GitLab Inc. (NASDAQ:GTLB)

Union Bancaire Privee UBP SA acquired a new position in shares of GitLab Inc. (NASDAQ:GTLB) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 66,306 shares of the company’s stock, valued at approximately $3,612,000.

A number of other large investors have also recently bought and sold shares of the business. Franklin Resources Inc. raised its position in shares of GitLab by 0.8% during the 3rd quarter. Franklin Resources Inc. now owns 2,670,072 shares of the company’s stock worth $146,774,000 after purchasing an additional 21,976 shares during the period. State Street Corp grew its stake in GitLab by 5.8% during the 3rd quarter. State Street Corp now owns 2,032,206 shares of the company’s stock worth $104,740,000 after buying an additional 111,997 shares during the last quarter. Geode Capital Management LLC increased its position in GitLab by 7.0% in the third quarter. Geode Capital Management LLC now owns 2,026,567 shares of the company’s stock worth $104,476,000 after buying an additional 132,548 shares during the period. Fiera Capital Corp lifted its stake in GitLab by 1.4% in the third quarter. Fiera Capital Corp now owns 1,259,429 shares of the company’s stock valued at $64,911,000 after buying an additional 16,961 shares during the last quarter. Finally, Bamco Inc. NY boosted its holdings in shares of GitLab by 0.4% during the third quarter. Bamco Inc. NY now owns 1,253,244 shares of the company’s stock valued at $64,592,000 after acquiring an additional 4,874 shares during the period. Institutional investors own 95.04% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on GTLB. JPMorgan Chase & Co. lifted their price objective on shares of GitLab from $60.00 to $65.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. KeyCorp boosted their price target on shares of GitLab from $74.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. Canaccord Genuity Group upped their target price on GitLab from $65.00 to $78.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. The Goldman Sachs Group lifted their price target on GitLab from $80.00 to $88.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Finally, Mizuho upped their price objective on GitLab from $67.00 to $80.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Three 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 company’s stock. Based on data from MarketBeat.com, GitLab has an average rating of “Moderate Buy” and a consensus target price of $76.42.

Insider Buying and Selling

In related news, insider Robin Schulman sold 2,996 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $55.98, for a total transaction of $167,716.08. Following the completion of the transaction, the insider now owns 129,223 shares in the company, valued at $7,233,903.54. This trade represents a 2.27 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Karen Blasing sold 6,500 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $63.19, for a total value of $410,735.00. Following the transaction, the director now owns 128,233 shares of the company’s stock, valued at $8,103,043.27. This represents a 4.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 825,698 shares of company stock valued at $49,549,749. 21.36% of the stock is owned by company insiders.

GitLab Trading Up 1.3 %

Shares of GTLB stock opened at $64.79 on Monday. The stock has a 50 day moving average of $61.66 and a 200-day moving average of $55.22. GitLab Inc. has a 12 month low of $40.72 and a 12 month high of $78.53.

GitLab Company 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.