GitLab Inc. (NASDAQ:GTLB) Shares Acquired by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC increased its stake in shares of GitLab Inc. (NASDAQ:GTLB) by 67.7% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 1,003,010 shares of the company’s stock after acquiring an additional 404,895 shares during the period. Los Angeles Capital Management LLC owned approximately 0.62% of GitLab worth $56,520,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GTLB. Creative Planning acquired a new position in GitLab during the 3rd quarter worth approximately $208,000. Blue Trust Inc. lifted its position in GitLab by 18.2% during the 3rd quarter. Blue Trust Inc. now owns 3,166 shares of the company’s stock worth $157,000 after acquiring an additional 488 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in GitLab by 22.2% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,000 shares of the company’s stock worth $568,000 after purchasing an additional 2,000 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in GitLab by 35.1% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 91,164 shares of the company’s stock worth $4,699,000 after purchasing an additional 23,690 shares during the last quarter. Finally, Pallas Capital Advisors LLC purchased a new stake in GitLab during the 3rd quarter worth approximately $1,105,000. 95.04% of the stock is owned by institutional investors and hedge funds.

Insider Activity at GitLab

In related news, CFO Brian G. Robins sold 10,000 shares of the 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 completion of the sale, the chief financial officer now owns 242,803 shares in the company, valued at $16,411,054.77. This represents a 3.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Karen Blasing sold 3,250 shares of the company’s stock in a transaction that occurred on 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 directly 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 disclosure for this sale can be found here. Insiders sold a total of 740,257 shares of company stock worth $44,710,867 in the last 90 days. 21.36% of the stock is owned by company insiders.

GitLab Stock Performance

GTLB opened at $62.28 on Tuesday. The company has a market cap of $10.11 billion, a PE ratio of -194.63 and a beta of 0.63. The stock has a 50-day moving average of $64.17 and a 200-day moving average of $58.11. GitLab Inc. has a 52-week low of $40.72 and a 52-week high of $76.41.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Cantor Fitzgerald lifted their price objective on GitLab from $75.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Piper Sandler lifted their price objective on GitLab from $75.00 to $85.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Robert W. Baird boosted their price target on GitLab from $62.00 to $75.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Barclays boosted their price target on GitLab from $55.00 to $70.00 and gave the company an “equal weight” rating in a report on Monday, December 9th. Finally, Canaccord Genuity Group boosted their price target on GitLab from $65.00 to $78.00 and gave the company a “buy” rating in a report on Friday, December 6th. Three 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. According to MarketBeat.com, GitLab currently has an average rating of “Moderate Buy” and a consensus target price of $76.62.

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.