GitLab Inc. (NASDAQ:GTLB) Shares Acquired by Barton Investment Management

Barton Investment Management increased its holdings in shares of GitLab Inc. (NASDAQ:GTLB - Free Report) by 30.9% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 439,253 shares of the company's stock after purchasing an additional 103,605 shares during the quarter. GitLab accounts for 2.5% of Barton Investment Management's holdings, making the stock its 9th biggest position. Barton Investment Management owned approximately 0.27% of GitLab worth $20,645,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of GTLB. Vanguard Group Inc. raised its stake in shares of GitLab by 7.2% in the 4th quarter. Vanguard Group Inc. now owns 13,142,592 shares of the company's stock valued at $740,585,000 after purchasing an additional 885,955 shares during the period. Norges Bank acquired a new stake in GitLab in the 4th quarter valued at approximately $279,089,000. Artisan Partners Limited Partnership raised its position in GitLab by 55.7% in the 4th quarter. Artisan Partners Limited Partnership now owns 4,034,041 shares of the company's stock valued at $227,318,000 after buying an additional 1,443,160 shares during the last quarter. Franklin Resources Inc. lifted its stake in GitLab by 17.6% in the 4th quarter. Franklin Resources Inc. now owns 3,140,264 shares of the company's stock valued at $176,954,000 after acquiring an additional 470,192 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its position in GitLab by 276.9% during the 4th quarter. Ameriprise Financial Inc. now owns 2,155,016 shares of the company's stock worth $121,435,000 after acquiring an additional 1,583,221 shares during the last quarter. 95.04% of the stock is currently owned by institutional investors and hedge funds.

GitLab Stock Performance

GTLB stock opened at $48.77 on Friday. GitLab Inc. has a 1-year low of $37.90 and a 1-year high of $74.18. The business's 50 day simple moving average is $46.24 and its 200 day simple moving average is $56.09. The firm has a market capitalization of $8.00 billion, a PE ratio of -152.41 and a beta of 0.75.

Analysts Set New Price Targets

GTLB has been the subject of several research reports. Cowen reaffirmed a "buy" rating on shares of GitLab in a research note on Friday. JPMorgan Chase & Co. decreased their target price on shares of GitLab from $65.00 to $62.00 and set a "neutral" rating for the company in a research report on Tuesday, March 4th. Needham & Company LLC reissued a "buy" rating and set a $85.00 price target on shares of GitLab in a research report on Tuesday, March 4th. Barclays decreased their price objective on GitLab from $70.00 to $58.00 and set an "equal weight" rating for the company in a report on Tuesday, March 4th. Finally, Morgan Stanley lowered their target price on GitLab from $77.00 to $53.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Three equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, GitLab presently has a consensus rating of "Moderate Buy" and a consensus price target of $70.95.

Insider Buying and Selling at GitLab

In related news, Director Susan L. Bostrom sold 40,000 shares of GitLab stock in a transaction that occurred 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 sale, the director now directly owns 144,913 shares of the company's stock, valued at approximately $7,518,086.44. This trade represents a 21.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Sytse Sijbrandij sold 108,600 shares of the business's stock in a transaction on Tuesday, April 15th. The shares were 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 a total of 461,584 shares of company stock worth $23,192,574 over the last ninety days. Insiders own 16.37% of the company's stock.

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.

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