Quantinno Capital Management LP Makes New $301,000 Investment in GitLab Inc. (NASDAQ:GTLB)

Quantinno Capital Management LP acquired a new position in GitLab Inc. (NASDAQ:GTLB - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 5,341 shares of the company's stock, valued at approximately $301,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Barclays PLC lifted its stake in shares of GitLab by 189.1% during the third quarter. Barclays PLC now owns 61,419 shares of the company's stock valued at $3,164,000 after acquiring an additional 40,171 shares during the period. Swiss National Bank lifted its stake in shares of GitLab by 3.7% during the fourth quarter. Swiss National Bank now owns 215,000 shares of the company's stock valued at $12,115,000 after acquiring an additional 7,700 shares during the period. Barton Investment Management lifted its stake in shares of GitLab by 99.4% during the fourth quarter. Barton Investment Management now owns 335,648 shares of the company's stock valued at $18,914,000 after acquiring an additional 167,290 shares during the period. Smith Group Asset Management LLC lifted its stake in shares of GitLab by 70.9% during the fourth quarter. Smith Group Asset Management LLC now owns 17,020 shares of the company's stock valued at $959,000 after acquiring an additional 7,060 shares during the period. Finally, SYM FINANCIAL Corp acquired a new position in shares of GitLab during the fourth quarter valued at $201,000. Institutional investors and hedge funds own 95.04% of the company's stock.

GitLab Stock Performance

NASDAQ:GTLB traded down $0.57 during mid-day trading on Thursday, hitting $45.68. 3,068,712 shares of the stock were exchanged, compared to its average volume of 2,600,842. The stock has a market capitalization of $7.49 billion, a price-to-earnings ratio of -142.75 and a beta of 0.79. The firm's 50-day simple moving average is $46.67 and its 200 day simple moving average is $56.74. GitLab Inc. has a fifty-two week low of $37.90 and a fifty-two week high of $74.18.

Insider Buying and Selling

In other GitLab news, insider Sytse Sijbrandij sold 108,600 shares of the firm's stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $42.87, for a total transaction of $4,655,682.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Brian G. Robins sold 45,000 shares of the firm's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $53.04, for a total value of $2,386,800.00. Following the transaction, the chief financial officer now owns 344,105 shares in the company, valued at approximately $18,251,329.20. This trade represents a 11.57% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 461,584 shares of company stock valued at $23,192,574. Insiders own 16.37% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on GTLB. Royal Bank of Canada reiterated an "outperform" rating and issued a $80.00 price objective on shares of GitLab in a report on Tuesday, March 4th. KeyCorp dropped their price objective on GitLab from $80.00 to $60.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Barclays dropped 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. Wells Fargo & Company dropped their price objective on GitLab from $85.00 to $65.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Finally, Mizuho lowered their price target on GitLab from $80.00 to $72.00 and set an "outperform" rating for the company in a report on Tuesday, March 4th. Three research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, GitLab presently has a consensus rating of "Moderate Buy" and an average price target of $71.73.

About GitLab

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.