Vestor Capital LLC Invests $2.53 Million in GitLab Inc. (NASDAQ:GTLB)

Vestor Capital LLC bought a new stake in shares of GitLab Inc. (NASDAQ:GTLB) in the 4th quarter, Holdings Channel.com reports. The firm bought 44,851 shares of the company’s stock, valued at approximately $2,527,000.

Several other institutional investors also recently bought and sold shares of the stock. Franklin Resources Inc. boosted its holdings in GitLab by 0.8% during the 3rd quarter. Franklin Resources Inc. now owns 2,670,072 shares of the company’s stock valued at $146,774,000 after acquiring an additional 21,976 shares during the period. State Street Corp boosted its holdings in GitLab by 5.8% during the 3rd quarter. State Street Corp now owns 2,032,206 shares of the company’s stock valued at $104,740,000 after acquiring an additional 111,997 shares during the period. Geode Capital Management LLC boosted its holdings in GitLab by 7.0% during the 3rd quarter. Geode Capital Management LLC now owns 2,026,567 shares of the company’s stock valued at $104,476,000 after acquiring an additional 132,548 shares during the period. Bamco Inc. NY boosted its holdings in GitLab by 0.4% during the 3rd quarter. Bamco Inc. NY now owns 1,253,244 shares of the company’s stock valued at $64,592,000 after acquiring an additional 4,874 shares during the period. Finally, ARK Investment Management LLC boosted its holdings in GitLab by 345.2% during the 4th quarter. ARK Investment Management LLC now owns 1,160,502 shares of the company’s stock valued at $65,394,000 after acquiring an additional 899,823 shares during the period. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at GitLab

In other GitLab news, Director Susan L. Bostrom sold 40,000 shares of GitLab stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $51.88, for a total transaction of $2,075,200.00. Following the completion of the transaction, the director now owns 144,913 shares in the company, valued at approximately $7,518,086.44. The trade was a 21.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Brian G. Robins sold 10,000 shares of GitLab stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $56.24, for a total value of $562,400.00. Following the transaction, the chief financial officer now owns 267,380 shares of the company’s stock, valued at $15,037,451.20. The trade was a 3.61 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 764,011 shares of company stock worth $45,750,733. 21.36% of the stock is owned by insiders.

GitLab Trading Down 0.4 %

Shares of NASDAQ:GTLB opened at $50.95 on Friday. The stock has a fifty day simple moving average of $62.77 and a two-hundred day simple moving average of $59.20. The stock has a market capitalization of $8.27 billion, a price-to-earnings ratio of -159.22 and a beta of 0.67. GitLab Inc. has a 12-month low of $40.72 and a 12-month high of $74.18.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on GTLB shares. Truist Financial restated a “buy” rating and set a $90.00 target price (up from $80.00) on shares of GitLab in a report on Friday, December 6th. Macquarie reiterated an “outperform” rating and issued a $90.00 price objective on shares of GitLab in a report on Tuesday, March 4th. Wells Fargo & Company increased their price objective on GitLab from $80.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. JPMorgan Chase & Co. dropped their price objective on GitLab from $65.00 to $62.00 and set a “neutral” rating for the company in a report on Tuesday, March 4th. Finally, Piper Sandler increased 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. Three analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, GitLab presently has an average rating of “Moderate Buy” and an average price target of $75.38.

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.