40,374 Shares in GitLab Inc. (NASDAQ:GTLB) Purchased by Temasek Holdings Private Ltd

Temasek Holdings Private Ltd purchased a new position in shares of GitLab Inc. (NASDAQ:GTLB - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 40,374 shares of the company's stock, valued at approximately $2,275,000.

Several other hedge funds have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC grew its position in GitLab by 5,700.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 522 shares of the company's stock worth $29,000 after buying an additional 513 shares during the last quarter. CoreCap Advisors LLC raised its holdings in GitLab by 327.5% in the 4th quarter. CoreCap Advisors LLC now owns 590 shares of the company's stock worth $33,000 after acquiring an additional 452 shares during the period. IMG Wealth Management Inc. acquired a new position in shares of GitLab during the 4th quarter worth about $46,000. Raleigh Capital Management Inc. acquired a new stake in GitLab in the 4th quarter valued at approximately $66,000. Finally, Smartleaf Asset Management LLC raised its position in shares of GitLab by 1,067.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,261 shares of the company's stock valued at $71,000 after buying an additional 1,153 shares during the last quarter. 95.04% of the stock is currently owned by institutional investors.

Insider Buying and Selling at GitLab

In other news, Director Matthew Jacobson sold 152,884 shares of GitLab stock in a transaction dated 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 transaction, the director now owns 493,554 shares in the company, valued at approximately $25,832,616.36. The trade was a 23.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Susan L. Bostrom sold 40,000 shares of the firm's stock in a transaction 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 in the company, valued at approximately $7,518,086.44. This trade represents a 21.63% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 461,584 shares of company stock worth $23,192,574 over the last three months. 21.36% of the stock is owned by insiders.

GitLab Trading Down 0.7%

Shares of GTLB stock traded down $0.35 on Friday, hitting $47.42. 864,825 shares of the stock were exchanged, compared to its average volume of 2,585,508. The firm has a market capitalization of $7.78 billion, a PE ratio of -148.30 and a beta of 0.79. GitLab Inc. has a one year low of $37.90 and a one year high of $74.18. The firm's 50 day moving average is $46.96 and its two-hundred day moving average is $57.08.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on GTLB. Morgan Stanley lowered their price objective on GitLab from $77.00 to $53.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. DA Davidson cut their price target on shares of GitLab from $60.00 to $45.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Mizuho decreased their price target 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 reaffirmed an "overweight" rating and issued a $80.00 target price on shares of GitLab in a report on Tuesday, March 4th. Finally, Macquarie restated an "outperform" rating and issued a $90.00 price target on shares of GitLab in a research report on Tuesday, March 4th. Three equities research 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price 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.