Vanguard Group Inc. lifted its stake in GitLab Inc. (NASDAQ:GTLB – Free Report) by 12.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,388,440 shares of the company’s stock after acquiring an additional 1,070,994 shares during the period. Vanguard Group Inc. owned 0.06% of GitLab worth $591,096,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in GitLab during the 4th quarter worth $222,591,000. 1832 Asset Management L.P. purchased a new position in GitLab during the 4th quarter worth $76,918,000. Balyasny Asset Management L.P. grew its stake in GitLab by 520.6% during the 4th quarter. Balyasny Asset Management L.P. now owns 748,636 shares of the company’s stock worth $47,134,000 after buying an additional 627,999 shares during the last quarter. Wellington Management Group LLP grew its stake in GitLab by 280.3% during the 3rd quarter. Wellington Management Group LLP now owns 628,987 shares of the company’s stock worth $28,443,000 after buying an additional 463,584 shares during the last quarter. Finally, Victory Capital Management Inc. grew its stake in GitLab by 766.9% during the 4th quarter. Victory Capital Management Inc. now owns 254,483 shares of the company’s stock worth $16,022,000 after buying an additional 225,129 shares during the last quarter. 91.72% of the stock is owned by institutional investors.
GitLab Price Performance
Shares of GitLab stock opened at $44.10 on Tuesday. The business has a 50 day simple moving average of $51.10 and a two-hundred day simple moving average of $59.45. GitLab Inc. has a 12 month low of $40.19 and a 12 month high of $78.53. The stock has a market capitalization of $7.01 billion, a P/E ratio of -16.04 and a beta of 0.44.
Analyst Ratings Changes
Check Out Our Latest Stock Analysis on GTLB
Insider Buying and Selling at GitLab
In other GitLab news, CFO Brian G. Robins sold 11,667 shares of the stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $43.56, for a total transaction of $508,214.52. Following the completion of the transaction, the chief financial officer now owns 305,175 shares of the company’s stock, valued at $13,293,423. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other GitLab news, CFO Brian G. Robins sold 11,667 shares of the stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $43.56, for a total transaction of $508,214.52. Following the completion of the transaction, the chief financial officer now owns 305,175 shares of the company’s stock, valued at $13,293,423. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sytse Sijbrandij sold 56,000 shares of the stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $54.92, for a total value of $3,075,520.00. The disclosure for this sale can be found here. Insiders sold 148,828 shares of company stock valued at $8,027,879 over the last quarter. 21.36% of the stock is currently owned by insiders.
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.
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