NINE MASTS CAPITAL Ltd Raises Stock Position in GitLab Inc. (NASDAQ:GTLB)

NINE MASTS CAPITAL Ltd increased its position in shares of GitLab Inc. (NASDAQ:GTLB) by 73.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 15,677 shares of the company’s stock after acquiring an additional 6,657 shares during the period. NINE MASTS CAPITAL Ltd’s holdings in GitLab were worth $883,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Creative Planning bought a new position in shares of GitLab in the third quarter worth $208,000. Mirae Asset Global Investments Co. Ltd. grew its position in GitLab by 22.2% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,000 shares of the company’s stock worth $568,000 after buying an additional 2,000 shares in the last quarter. US Bancorp DE increased its stake in GitLab by 18.6% in the 3rd quarter. US Bancorp DE now owns 11,553 shares of the company’s stock worth $595,000 after acquiring an additional 1,808 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of GitLab by 4.0% in the 3rd quarter. Janney Montgomery Scott LLC now owns 36,451 shares of the company’s stock valued at $1,879,000 after acquiring an additional 1,388 shares in the last quarter. Finally, NorthRock Partners LLC bought a new stake in shares of GitLab during the 3rd quarter valued at about $252,000. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

GitLab Price Performance

Shares of NASDAQ:GTLB opened at $60.21 on Monday. The stock’s 50-day moving average is $64.38 and its 200 day moving average is $58.61. The company has a market cap of $9.77 billion, a PE ratio of -188.16 and a beta of 0.63. GitLab Inc. has a 1 year low of $40.72 and a 1 year high of $76.41.

Insider Transactions at GitLab

In other GitLab news, Director Matthew Jacobson sold 547,679 shares of the company’s stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $59.72, for a total value of $32,707,389.88. Following the completion of the transaction, the director now directly owns 58,471 shares in the company, valued at approximately $3,491,888.12. This represents a 90.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robin Schulman sold 2,996 shares of the firm’s stock in a transaction dated 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 sale, the insider now directly owns 129,223 shares of the company’s stock, valued at approximately $7,233,903.54. This represents a 2.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 740,257 shares of company stock worth $44,710,867. 21.36% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

GTLB has been the topic of several research analyst reports. Macquarie restated an “outperform” rating and issued a $90.00 price objective on shares of GitLab in a research report on Wednesday, January 15th. Needham & Company LLC restated a “buy” rating and set a $85.00 price objective on shares of GitLab in a research report on Tuesday, January 7th. Canaccord Genuity Group lifted their price objective on shares of GitLab from $65.00 to $78.00 and gave the stock a “buy” rating in a report on Friday, December 6th. TD Cowen increased their target price on GitLab from $63.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Finally, Robert W. Baird lifted their price target on GitLab from $62.00 to $75.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Three investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, GitLab currently has a consensus rating of “Moderate Buy” and a consensus price target of $76.23.

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.