GitLab Inc. (NASDAQ:GTLB) Stock Position Increased by Barton Investment Management

Barton Investment Management lifted its position in GitLab Inc. (NASDAQ:GTLB) by 99.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 335,648 shares of the company’s stock after buying an additional 167,290 shares during the quarter. GitLab makes up 2.0% of Barton Investment Management’s investment portfolio, making the stock its 9th largest holding. Barton Investment Management owned approximately 0.21% of GitLab worth $18,914,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of GTLB. Future Financial Wealth Managment LLC purchased a new position in GitLab during the 3rd quarter worth approximately $52,000. True Wealth Design LLC purchased a new stake in GitLab during the 3rd quarter worth about $56,000. Raleigh Capital Management Inc. purchased a new stake in shares of GitLab in the fourth quarter valued at $66,000. Rakuten Securities Inc. raised its stake in GitLab by 268.1% during the third 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, Capital Performance Advisors LLP purchased a new stake in shares of GitLab during the 3rd quarter worth about $96,000. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently commented on GTLB shares. Royal Bank of Canada increased their target price on GitLab from $73.00 to $80.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Canaccord Genuity Group increased their price target on GitLab from $65.00 to $78.00 and gave the company a “buy” rating in a research note on Friday, December 6th. TD Cowen increased their price target on GitLab from $63.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Barclays upped their price objective on shares of GitLab from $55.00 to $70.00 and gave the company an “equal weight” rating in a research note on Monday, December 9th. Finally, JPMorgan Chase & Co. boosted their price target on GitLab from $60.00 to $65.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Three research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, GitLab has a consensus rating of “Moderate Buy” and an average target price of $76.42.

Insider Activity

In other news, insider Robin Schulman sold 2,996 shares of GitLab stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $55.98, for a total value of $167,716.08. Following the completion of the transaction, the insider now owns 129,223 shares in the company, valued at approximately $7,233,903.54. The trade was a 2.27 % decrease in their position. The sale 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 the firm’s stock in a transaction dated Monday, November 18th. The stock was 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 sold a total of 828,283 shares of company stock valued at $49,959,990 in the last 90 days. Company insiders own 21.36% of the company’s stock.

GitLab Stock Up 2.4 %

Shares of NASDAQ GTLB opened at $73.14 on Thursday. GitLab Inc. has a twelve month low of $40.72 and a twelve month high of $78.53. The firm has a market cap of $11.87 billion, a P/E ratio of -228.56 and a beta of 0.63. The company has a 50 day moving average of $62.56 and a 200 day moving average of $56.15.

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.