33,261 Shares in GitLab Inc. (NASDAQ:GTLB) Acquired by Vestmark Advisory Solutions Inc.

Vestmark Advisory Solutions Inc. bought a new position in GitLab Inc. (NASDAQ:GTLB) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund bought 33,261 shares of the company’s stock, valued at approximately $1,874,000.

Other hedge funds have also added to or reduced their stakes in the company. True Wealth Design LLC bought a new stake in shares of GitLab in the third quarter worth $56,000. Raleigh Capital Management Inc. purchased a new position in GitLab in the fourth quarter worth about $66,000. Smartleaf Asset Management LLC grew its stake in shares of GitLab by 1,067.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,261 shares of the company’s stock valued at $71,000 after purchasing an additional 1,153 shares during the period. Steward Partners Investment Advisory LLC increased its position in shares of GitLab by 4,273.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,312 shares of the company’s stock valued at $74,000 after purchasing an additional 1,282 shares during the last quarter. Finally, Rakuten Securities Inc. lifted its stake in shares of GitLab by 268.1% in the 3rd 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 period. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on GTLB shares. Macquarie restated an “outperform” rating and set a $90.00 target price on shares of GitLab in a research report on Tuesday. Morgan Stanley boosted their price objective on shares of GitLab from $70.00 to $77.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $80.00 target price on shares of GitLab in a report on Tuesday. TD Cowen boosted their price target on GitLab from $63.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Finally, DA Davidson decreased their price objective on GitLab from $70.00 to $60.00 and set a “neutral” rating on the stock in a research note on Friday, February 28th. Three analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, GitLab presently has an average rating of “Moderate Buy” and a consensus target price of $75.38.

GitLab Price Performance

Shares of GTLB opened at $56.38 on Friday. The stock has a market capitalization of $9.15 billion, a price-to-earnings ratio of -176.19 and a beta of 0.67. GitLab Inc. has a 1 year low of $40.72 and a 1 year high of $74.18. The business’s 50 day simple moving average is $64.31 and its 200-day simple moving average is $58.90.

Insider Buying and Selling

In related news, Director Karen Blasing sold 3,250 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $58.99, for a total value of $191,717.50. Following the completion of the transaction, the director now owns 134,733 shares of the company’s stock, valued at approximately $7,947,899.67. This trade represents a 2.36 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Brian G. Robins sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $67.59, for a total value of $675,900.00. Following the sale, the chief financial officer now directly owns 242,803 shares in the company, valued at $16,411,054.77. The trade was a 3.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 740,257 shares of company stock worth $44,710,867. Insiders own 21.36% of the company’s stock.

GitLab 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.