GitLab Inc. (NASDAQ:GTLB) Shares Bought by EDBI Pte Ltd

EDBI Pte Ltd increased its holdings in shares of GitLab Inc. (NASDAQ:GTLB) by 34.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,150 shares of the company’s stock after buying an additional 4,177 shares during the period. GitLab comprises approximately 1.0% of EDBI Pte Ltd’s portfolio, making the stock its 10th largest position. EDBI Pte Ltd’s holdings in GitLab were worth $910,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. True Wealth Design LLC acquired a new stake in shares of GitLab in the third quarter valued at about $56,000. Raleigh Capital Management Inc. bought a new position in GitLab during the 4th quarter worth approximately $66,000. Rakuten Securities Inc. boosted its stake in shares of GitLab by 268.1% in the 3rd 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 last quarter. First Horizon Advisors Inc. increased its position in shares of GitLab by 57.8% during the fourth quarter. First Horizon Advisors Inc. now owns 1,436 shares of the company’s stock worth $81,000 after buying an additional 526 shares during the period. Finally, Capital Performance Advisors LLP acquired a new stake in shares of GitLab during the third quarter worth $96,000. 95.04% of the stock is owned by institutional investors.

Insider Transactions at GitLab

In related news, insider Robin Schulman sold 2,996 shares of the business’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $55.98, for a total value of $167,716.08. Following the transaction, the insider now directly owns 129,223 shares of the company’s stock, valued at approximately $7,233,903.54. The trade was a 2.27 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Matthew Jacobson sold 547,679 shares of the firm’s stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $59.72, for a total transaction of $32,707,389.88. Following the sale, the director now owns 58,471 shares of the company’s stock, valued at $3,491,888.12. This trade represents a 90.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 740,257 shares of company stock worth $44,710,867 in the last 90 days. Insiders own 21.36% of the company’s stock.

GitLab Stock Performance

Shares of GTLB stock opened at $64.12 on Friday. The company has a market capitalization of $10.41 billion, a price-to-earnings ratio of -200.38 and a beta of 0.63. GitLab Inc. has a 52-week low of $40.72 and a 52-week high of $76.41. The company has a 50-day simple moving average of $64.11 and a two-hundred day simple moving average of $57.76.

Analyst Ratings Changes

GTLB has been the subject of a number of recent analyst reports. DA Davidson increased their price target on GitLab from $50.00 to $70.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. The Goldman Sachs Group raised their target price on GitLab from $80.00 to $88.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. TD Cowen boosted their price target on GitLab from $63.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Barclays raised their price objective on shares of GitLab from $55.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Monday, December 9th. Finally, Royal Bank of Canada boosted their target price on shares of GitLab from $73.00 to $80.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Three equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $76.62.

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.