Temasek Holdings Private Ltd Invests $2.28 Million in GitLab Inc. (NASDAQ:GTLB)

Temasek Holdings Private Ltd bought a new stake in GitLab Inc. (NASDAQ:GTLB - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 40,374 shares of the company's stock, valued at approximately $2,275,000.

Several other large investors have also recently bought and sold shares of GTLB. Norges Bank acquired a new stake in shares of GitLab in the fourth quarter valued at about $279,089,000. Ameriprise Financial Inc. grew its stake in GitLab by 276.9% during the fourth quarter. Ameriprise Financial Inc. now owns 2,155,016 shares of the company's stock worth $121,435,000 after purchasing an additional 1,583,221 shares during the period. Artisan Partners Limited Partnership grew its stake in GitLab by 55.7% during the fourth quarter. Artisan Partners Limited Partnership now owns 4,034,041 shares of the company's stock worth $227,318,000 after purchasing an additional 1,443,160 shares during the period. Alliancebernstein L.P. grew its stake in GitLab by 4,042.0% during the fourth quarter. Alliancebernstein L.P. now owns 1,455,385 shares of the company's stock worth $82,011,000 after purchasing an additional 1,420,248 shares during the period. Finally, Marshall Wace LLP grew its stake in GitLab by 572.3% during the fourth quarter. Marshall Wace LLP now owns 1,094,128 shares of the company's stock worth $61,654,000 after purchasing an additional 931,396 shares during the period. 95.04% of the stock is currently owned by institutional investors.

GitLab Price Performance

GTLB traded down $2.56 during midday trading on Wednesday, reaching $47.60. 3,416,501 shares of the company's stock traded hands, compared to its average volume of 2,585,544. The firm has a fifty day moving average of $47.13 and a two-hundred day moving average of $57.21. The stock has a market capitalization of $7.81 billion, a price-to-earnings ratio of -148.75 and a beta of 0.79. GitLab Inc. has a 52 week low of $37.90 and a 52 week high of $74.18.

Insider Transactions at GitLab

In related news, CFO Brian G. Robins sold 45,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $53.04, for a total transaction of $2,386,800.00. Following the completion of the transaction, the chief financial officer now owns 344,105 shares of the company's stock, valued at $18,251,329.20. This trade represents a 11.57% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Sytse Sijbrandij sold 108,600 shares of the 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. In the last quarter, insiders sold 461,584 shares of company stock valued at $23,192,574. Corporate insiders own 21.36% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $80.00 target price on shares of GitLab in a research note on Tuesday, March 4th. DA Davidson reduced their price objective on GitLab from $60.00 to $45.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Barclays reduced their price objective on GitLab from $70.00 to $58.00 and set an "equal weight" rating for the company in a research note on Tuesday, March 4th. Needham & Company LLC reissued a "buy" rating and issued a $85.00 price objective on shares of GitLab in a research note on Tuesday, March 4th. Finally, Morgan Stanley reduced their price objective on GitLab from $77.00 to $53.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Three research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, GitLab currently has an average rating of "Moderate Buy" and an average target price of $71.73.

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.