GitLab Inc. (NASDAQ:GTLB) Shares Sold by Algert Global LLC

Algert Global LLC decreased its position in GitLab Inc. (NASDAQ:GTLB - Free Report) by 26.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 75,002 shares of the company's stock after selling 27,550 shares during the quarter. Algert Global LLC's holdings in GitLab were worth $4,226,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Barclays PLC increased its stake in shares of GitLab by 189.1% in the third quarter. Barclays PLC now owns 61,419 shares of the company's stock worth $3,164,000 after purchasing an additional 40,171 shares in the last quarter. Swiss National Bank grew its position in shares of GitLab by 3.7% during the fourth quarter. Swiss National Bank now owns 215,000 shares of the company's stock worth $12,115,000 after purchasing an additional 7,700 shares in the last quarter. Barton Investment Management raised its stake in GitLab by 99.4% during the 4th quarter. Barton Investment Management now owns 335,648 shares of the company's stock valued at $18,914,000 after purchasing an additional 167,290 shares during the period. Jackson Square Capital LLC lifted its holdings in shares of GitLab by 328.1% in the fourth quarter. Jackson Square Capital LLC now owns 36,600 shares of the company's stock worth $2,062,000 after buying an additional 28,050 shares in the last quarter. Finally, Franklin Resources Inc. boosted its holdings in shares of 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 purchasing an additional 21,976 shares during the last quarter. 95.04% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other GitLab news, Director Matthew Jacobson sold 152,884 shares of GitLab stock in a transaction on Monday, March 24th. The stock was sold at an average price of $52.34, for a total value of $8,001,948.56. Following the sale, the director now owns 493,554 shares in the company, valued at $25,832,616.36. The trade was a 23.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Sytse Sijbrandij sold 108,600 shares of the stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $42.87, for a total value of $4,655,682.00. The disclosure for this sale can be found here. Insiders have sold 304,734 shares of company stock valued at $14,879,081 over the last ninety days. Company insiders own 21.36% of the company's stock.

GitLab Stock Down 0.8 %

Shares of GTLB traded down $0.39 during midday trading on Friday, reaching $49.14. The company had a trading volume of 2,084,973 shares, compared to its average volume of 2,555,183. The firm has a 50 day simple moving average of $47.55 and a 200-day simple moving average of $57.34. The stock has a market cap of $7.98 billion, a PE ratio of -153.56 and a beta of 0.79. GitLab Inc. has a 1-year low of $37.90 and a 1-year high of $74.18.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Macquarie reaffirmed an "outperform" rating and set a $90.00 price target on shares of GitLab in a research note on Tuesday, March 4th. Mizuho cut their target price on GitLab from $80.00 to $72.00 and set an "outperform" rating on the stock in a research note on Tuesday, March 4th. Cantor Fitzgerald reissued an "overweight" rating and issued a $80.00 price objective on shares of GitLab in a research report on Tuesday, March 4th. Barclays decreased their price target on shares of GitLab from $70.00 to $58.00 and set an "equal weight" rating for the company in a report on Tuesday, March 4th. Finally, Robert W. Baird dropped their target price on GitLab from $80.00 to $76.00 and set an "outperform" rating on the stock in a research report on Monday, March 3rd. Three analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $71.73.

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.