GitLab Inc. (NASDAQ:GTLB) Position Raised by EDBI Pte Ltd

EDBI Pte Ltd grew its holdings in shares of GitLab Inc. (NASDAQ:GTLB) by 34.9% in the fourth quarter, Holdings Channel.com reports. The firm owned 16,150 shares of the company’s stock after buying an additional 4,177 shares during the period. GitLab comprises about 1.0% of EDBI Pte Ltd’s investment portfolio, making the stock its 10th biggest position. EDBI Pte Ltd’s holdings in GitLab were worth $910,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of GTLB. True Wealth Design LLC purchased a new stake in GitLab during the 3rd quarter worth about $56,000. Raleigh Capital Management Inc. bought a new stake in GitLab during the 4th quarter worth approximately $66,000. Rakuten Securities Inc. lifted its stake in 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 in the last quarter. First Horizon Advisors Inc. boosted its holdings in GitLab by 57.8% in the 4th quarter. First Horizon Advisors Inc. now owns 1,436 shares of the company’s stock valued at $81,000 after purchasing an additional 526 shares during the period. Finally, Capital Performance Advisors LLP purchased a new position in shares of GitLab during the 3rd quarter valued at $96,000. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Insider Activity

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

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Piper Sandler increased their price objective on GitLab from $75.00 to $85.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. TD Cowen raised 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. Morgan Stanley boosted their price objective on GitLab from $70.00 to $77.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Barclays raised their target price on shares of GitLab from $55.00 to $70.00 and gave the company an “equal weight” rating in a research note on Monday, December 9th. Finally, Scotiabank boosted their price target on shares of GitLab from $65.00 to $75.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $76.62.

GitLab Stock Down 4.9 %

Shares of GTLB opened at $64.12 on Friday. The stock has a market capitalization of $10.41 billion, a P/E ratio of -200.38 and a beta of 0.63. GitLab Inc. has a twelve month low of $40.72 and a twelve month high of $76.41. The firm has a fifty day simple moving average of $64.11 and a two-hundred day simple moving average of $57.76.

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.