GitLab Inc. (NASDAQ:GTLB) Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio reduced its position in shares of GitLab Inc. (NASDAQ:GTLB) by 4.7% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 43,030 shares of the company’s stock after selling 2,144 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in GitLab were worth $2,218,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Future Financial Wealth Managment LLC acquired a new position in GitLab during the third quarter worth about $52,000. True Wealth Design LLC bought a new position in shares of GitLab during the 3rd quarter valued at about $56,000. Rakuten Securities Inc. grew its stake in shares of 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 during the last quarter. Quarry LP raised its holdings in shares of GitLab by 527.0% in the 2nd quarter. Quarry LP now owns 1,787 shares of the company’s stock worth $89,000 after purchasing an additional 1,502 shares in the last quarter. Finally, Capital Performance Advisors LLP acquired a new stake in GitLab during the third quarter valued at approximately $96,000. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GTLB has been the topic of several recent research reports. Baird R W upgraded shares of GitLab to a “strong-buy” rating in a research report on Tuesday, August 27th. Scotiabank boosted their target price on GitLab from $65.00 to $75.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, December 4th. KeyCorp upped their target price on GitLab from $74.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, December 6th. UBS Group lifted their price target on GitLab from $62.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Finally, BTIG Research upped their price objective on shares of GitLab from $58.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. Three 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, the company has a consensus rating of “Moderate Buy” and a consensus target price of $76.42.

GitLab Stock Performance

GTLB opened at $59.14 on Wednesday. The firm has a market cap of $9.60 billion, a P/E ratio of -184.81 and a beta of 0.54. The business has a 50 day moving average price of $59.46 and a 200 day moving average price of $52.60. GitLab Inc. has a twelve month low of $40.72 and a twelve month high of $78.53.

Insider Activity

In other GitLab news, CFO Brian G. Robins sold 10,000 shares of the firm’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 value of $675,900.00. Following the sale, the chief financial officer now owns 242,803 shares of the company’s stock, valued at $16,411,054.77. This trade represents a 3.96 % decrease in their position. The transaction was disclosed in a filing with the SEC, 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 stock was sold at an average price of $58.99, for a total value of $191,717.50. Following the transaction, the director now 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 181,615 shares of company stock valued at $10,542,402 over the last 90 days. 21.36% of the stock is currently owned by company insiders.

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.