Black Swift Group LLC Makes New Investment in GitLab Inc. (NASDAQ:GTLB)

Black Swift Group LLC acquired a new position in GitLab Inc. (NASDAQ:GTLB) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 8,500 shares of the company’s stock, valued at approximately $479,000.

A number of other large investors have also added to or reduced their stakes in GTLB. True Wealth Design LLC bought a new stake in GitLab in the 3rd quarter worth approximately $56,000. Raleigh Capital Management Inc. purchased a new position in shares of GitLab in the 4th quarter worth approximately $66,000. Smartleaf Asset Management LLC boosted its holdings in shares of GitLab by 1,067.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,261 shares of the company’s stock worth $71,000 after purchasing an additional 1,153 shares during the period. Rakuten Securities Inc. boosted its holdings in shares of GitLab by 268.1% in the 3rd quarter. Rakuten Securities Inc. now owns 1,417 shares of the company’s stock worth $73,000 after purchasing an additional 1,032 shares during the period. Finally, Steward Partners Investment Advisory LLC boosted its holdings in shares of GitLab by 4,273.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,312 shares of the company’s stock worth $74,000 after purchasing an additional 1,282 shares during the period. Institutional investors own 95.04% of the company’s stock.

Wall Street Analysts Forecast Growth

GTLB has been the subject of a number of recent research reports. Truist Financial reiterated a “buy” rating and issued a $90.00 target price (up previously from $80.00) on shares of GitLab in a report on Friday, December 6th. Cantor Fitzgerald restated an “overweight” rating and set a $80.00 price objective on shares of GitLab in a report on Tuesday. Morgan Stanley boosted their price objective on GitLab from $70.00 to $77.00 and gave the company an “overweight” rating in a report on Friday, December 6th. TD Cowen boosted their price objective on GitLab from $63.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Finally, Barclays lowered their target price on GitLab from $70.00 to $58.00 and set an “equal weight” rating for the company in a report on Tuesday. Three investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, GitLab currently has an average rating of “Moderate Buy” and an average price target of $75.36.

GitLab Stock Performance

NASDAQ:GTLB opened at $61.79 on Thursday. GitLab Inc. has a one year low of $40.72 and a one year high of $74.18. The stock has a market cap of $10.03 billion, a PE ratio of -193.09 and a beta of 0.63. The stock has a 50 day moving average price of $64.38 and a 200 day moving average price of $58.84.

Insider Activity at GitLab

In related news, insider Sytse Sijbrandij sold 84,000 shares of GitLab stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $62.99, for a total value of $5,291,160.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Brian G. Robins sold 10,000 shares of GitLab stock in a transaction on Monday, December 9th. The shares were sold at an average price of $67.59, for a total value of $675,900.00. Following the completion of the transaction, the chief financial officer now owns 242,803 shares of the company’s stock, valued at approximately $16,411,054.77. This trade represents a 3.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 740,257 shares of company stock valued at $44,710,867. 21.36% of the stock is currently owned by insiders.

GitLab Company 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.