Green Alpha Advisors LLC Makes New $569,000 Investment in GitLab Inc. (NASDAQ:GTLB)

Green Alpha Advisors LLC purchased a new position in shares of GitLab Inc. (NASDAQ:GTLB) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 10,098 shares of the company’s stock, valued at approximately $569,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Future Financial Wealth Managment LLC acquired a new position in shares of GitLab during the 3rd quarter valued at $52,000. True Wealth Design LLC acquired a new position in shares of GitLab during the third quarter valued at about $56,000. Rakuten Securities Inc. raised its holdings in shares of GitLab by 268.1% during the third quarter. Rakuten Securities Inc. now owns 1,417 shares of the company’s stock valued at $73,000 after purchasing an additional 1,032 shares during the period. Quarry LP boosted its position in shares of GitLab by 527.0% during the 2nd quarter. Quarry LP now owns 1,787 shares of the company’s stock worth $89,000 after purchasing an additional 1,502 shares in the last quarter. Finally, Capital Performance Advisors LLP acquired a new stake in shares of GitLab in the 3rd quarter valued at about $96,000. 95.04% of the stock is currently owned by institutional investors.

GitLab Trading Down 2.8 %

NASDAQ:GTLB opened at $59.94 on Monday. The firm’s 50 day moving average is $61.01 and its 200 day moving average is $54.44. GitLab Inc. has a 12 month low of $40.72 and a 12 month high of $78.53. The stock has a market capitalization of $9.73 billion, a PE ratio of -187.31 and a beta of 0.57.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Mizuho upped their price target on GitLab from $67.00 to $80.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. DA Davidson raised their price objective on shares of GitLab from $50.00 to $70.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Macquarie assumed coverage on shares of GitLab in a report on Thursday, December 12th. They issued an “outperform” rating and a $90.00 target price on the stock. Cantor Fitzgerald lifted their price target on GitLab from $75.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Finally, Truist Financial reissued a “buy” rating and issued a $90.00 price objective (up from $80.00) on shares of GitLab in a research note on Friday, December 6th. Three investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $76.42.

Insider Buying and Selling at GitLab

In other GitLab news, CFO Brian G. Robins sold 16,666 shares of GitLab stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $56.74, for a total transaction of $945,628.84. Following the completion of the transaction, the chief financial officer now owns 242,803 shares of the company’s stock, valued at $13,776,642.22. The trade was a 6.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Karen Blasing sold 3,250 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $54.72, for a total value of $177,840.00. Following the sale, the director now owns 141,233 shares in the company, valued at approximately $7,728,269.76. This represents a 2.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 785,197 shares of company stock worth $46,486,459 over the last ninety days. 21.36% of the stock is currently owned by company insiders.

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.