Oak Harvest Investment Services Purchases Shares of 30,833 GitLab Inc. (NASDAQ:GTLB)

Oak Harvest Investment Services purchased a new position in shares of GitLab Inc. (NASDAQ:GTLB) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 30,833 shares of the company’s stock, valued at approximately $1,737,000.

Other large investors have also recently bought and sold shares of the company. Los Angeles Capital Management LLC purchased a new stake in GitLab in the third quarter valued at approximately $30,827,000. Atreides Management LP purchased a new position in shares of GitLab in the 3rd quarter valued at approximately $25,605,000. Thrivent Financial for Lutherans increased its holdings in shares of GitLab by 128.8% in the third quarter. Thrivent Financial for Lutherans now owns 554,455 shares of the company’s stock valued at $28,577,000 after purchasing an additional 312,119 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of GitLab by 6,821.7% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 297,632 shares of the company’s stock worth $15,340,000 after purchasing an additional 293,332 shares during the last quarter. Finally, ARK Investment Management LLC acquired a new stake in shares of GitLab during the third quarter worth $13,435,000. Hedge funds and other institutional investors own 95.04% of the company’s stock.

GitLab Price Performance

Shares of NASDAQ:GTLB opened at $69.38 on Friday. The stock’s 50-day moving average price is $62.16 and its two-hundred day moving average price is $55.59. GitLab Inc. has a 12-month low of $40.72 and a 12-month high of $78.53.

Insider Transactions at GitLab

In related news, insider Robin Schulman sold 2,996 shares of the stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $55.98, for a total transaction of $167,716.08. Following the completion of the sale, the insider now owns 129,223 shares of the company’s stock, valued at approximately $7,233,903.54. This represents a 2.27 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sytse Sijbrandij sold 84,776 shares of GitLab stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $59.64, for a total transaction of $5,056,040.64. The disclosure for this sale can be found here. Insiders have sold a total of 818,283 shares of company stock worth $49,251,690 in the last three months. Company insiders own 21.36% of the company’s stock.

Analyst Ratings Changes

GTLB has been the topic of several recent research reports. Morgan Stanley upped their price objective on shares of GitLab from $70.00 to $77.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. Canaccord Genuity Group boosted their target price on GitLab from $65.00 to $78.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Piper Sandler boosted their target price on shares of GitLab from $75.00 to $85.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. Macquarie reiterated an “outperform” rating and issued a $90.00 price target on shares of GitLab in a report on Wednesday, January 15th. Finally, Barclays boosted their price target on GitLab from $55.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Monday, December 9th. Three equities research 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.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $76.42.

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.