Lazard Asset Management LLC Purchases 34,342 Shares of GitLab Inc. (NASDAQ:GTLB)

Lazard Asset Management LLC raised its holdings in GitLab Inc. (NASDAQ:GTLB - Free Report) by 230.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 49,214 shares of the company's stock after purchasing an additional 34,342 shares during the period. Lazard Asset Management LLC's holdings in GitLab were worth $2,772,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Light Street Capital Management LLC lifted its holdings in shares of GitLab by 2.1% during the 4th quarter. Light Street Capital Management LLC now owns 376,803 shares of the company's stock worth $21,233,000 after acquiring an additional 7,848 shares during the period. LMR Partners LLP bought a new stake in shares of GitLab during the 4th quarter worth approximately $2,085,000. Janus Henderson Group PLC lifted its holdings in shares of GitLab by 5.5% during the 4th quarter. Janus Henderson Group PLC now owns 49,594 shares of the company's stock worth $2,794,000 after acquiring an additional 2,600 shares during the period. Hudson Bay Capital Management LP lifted its holdings in shares of GitLab by 8.7% during the 4th quarter. Hudson Bay Capital Management LP now owns 41,548 shares of the company's stock worth $2,341,000 after acquiring an additional 3,314 shares during the period. Finally, Gotham Asset Management LLC lifted its holdings in shares of GitLab by 39.3% during the 4th quarter. Gotham Asset Management LLC now owns 35,410 shares of the company's stock worth $1,995,000 after acquiring an additional 9,999 shares during the period. Institutional investors own 95.04% of the company's stock.

Insider Buying and Selling

In related news, 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 transaction of $4,655,682.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Susan L. Bostrom sold 40,000 shares of the 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 transaction, the director now directly owns 144,913 shares in the company, valued at approximately $7,518,086.44. This represents a 21.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 461,584 shares of company stock valued at $23,192,574 over the last ninety days. 16.37% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

GTLB has been the subject of a number of recent analyst reports. Barclays cut 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. Royal Bank of Canada reissued an "outperform" rating and issued a $80.00 price objective on shares of GitLab in a research note on Tuesday, March 4th. JPMorgan Chase & Co. dropped their price objective on shares of GitLab from $65.00 to $62.00 and set a "neutral" 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, Wells Fargo & Company dropped their price objective on shares of GitLab from $85.00 to $65.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Three analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $71.73.

GitLab Trading Up 2.5%

NASDAQ GTLB traded up $1.21 on Tuesday, hitting $50.16. 3,082,816 shares of the company were exchanged, compared to its average volume of 2,574,184. The company has a market cap of $8.14 billion, a PE ratio of -156.75 and a beta of 0.79. GitLab Inc. has a 12 month low of $37.90 and a 12 month high of $74.18. The stock has a fifty day moving average of $47.13 and a 200-day moving average of $57.25.

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.