Gotham Asset Management LLC Purchases 9,999 Shares of GitLab Inc. (NASDAQ:GTLB)

Gotham Asset Management LLC raised its position in shares of GitLab Inc. (NASDAQ:GTLB - Free Report) by 39.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,410 shares of the company's stock after buying an additional 9,999 shares during the quarter. Gotham Asset Management LLC's holdings in GitLab were worth $1,995,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Barclays PLC raised its position in shares of GitLab by 189.1% during the 3rd quarter. Barclays PLC now owns 61,419 shares of the company's stock valued at $3,164,000 after buying an additional 40,171 shares in the last quarter. Park Avenue Securities LLC increased its position in shares of GitLab by 44.5% during the 4th quarter. Park Avenue Securities LLC now owns 7,220 shares of the company's stock valued at $407,000 after purchasing an additional 2,225 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in GitLab during the 4th quarter valued at $225,000. Northside Capital Management LLC bought a new stake in GitLab in the fourth quarter worth $329,000. Finally, Wealthcare Advisory Partners LLC bought a new position in GitLab during the fourth quarter valued at $311,000. 95.04% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on GTLB shares. Needham & Company LLC restated a "buy" rating and issued a $85.00 price target on shares of GitLab in a report on Tuesday, March 4th. Barclays dropped their target price on GitLab from $70.00 to $58.00 and set an "equal weight" rating on the stock in a research note on Tuesday, March 4th. Truist Financial lowered their price objective on shares of GitLab from $90.00 to $80.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Macquarie reiterated an "outperform" rating and set a $90.00 price target on shares of GitLab in a research note on Tuesday, March 4th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $80.00 target price on shares of GitLab in a research report on Tuesday, March 4th. Three investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $71.73.

GitLab Trading Down 4.9%

Shares of GTLB traded down $2.54 during mid-day trading on Monday, hitting $48.95. 3,879,509 shares of the company traded hands, compared to its average volume of 2,572,130. GitLab Inc. has a one year low of $37.90 and a one year high of $74.18. The stock has a market capitalization of $7.94 billion, a price-to-earnings ratio of -152.97 and a beta of 0.79. The business has a 50-day moving average of $47.20 and a 200 day moving average of $57.31.

Insider Buying and Selling

In other GitLab news, Director Susan L. Bostrom sold 40,000 shares of GitLab stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $51.88, for a total value of $2,075,200.00. Following the completion of the sale, the director now owns 144,913 shares in the company, valued at $7,518,086.44. The trade was a 21.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Sytse Sijbrandij sold 108,600 shares of GitLab stock in a transaction that occurred 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 disclosure for this sale can be found here. Over the last three months, insiders sold 461,584 shares of company stock worth $23,192,574. 16.37% of the stock is owned by corporate insiders.

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.