Wildcat Capital Management LLC Makes New Investment in GitLab Inc. (NASDAQ:GTLB)

Wildcat Capital Management LLC bought a new position in shares of GitLab Inc. (NASDAQ:GTLB) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 11,399 shares of the company’s stock, valued at approximately $642,000. GitLab comprises approximately 0.3% of Wildcat Capital Management LLC’s investment portfolio, making the stock its 6th biggest position.

Other hedge funds have also added to or reduced their stakes in the company. True Wealth Design LLC bought a new position in shares of GitLab in the third quarter valued at $56,000. Raleigh Capital Management Inc. acquired a new position in shares of GitLab during the 4th quarter worth about $66,000. Rakuten Securities Inc. raised 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 valued at $73,000 after purchasing an additional 1,032 shares during the period. Capital Performance Advisors LLP acquired a new stake in GitLab in the 3rd quarter valued at about $96,000. Finally, Wilmington Savings Fund Society FSB bought a new position in GitLab during the third quarter worth about $98,000. Institutional investors own 95.04% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Truist Financial restated a “buy” rating and issued a $90.00 price objective (up previously from $80.00) on shares of GitLab in a research note on Friday, December 6th. Scotiabank increased their price target on GitLab from $65.00 to $75.00 and gave the company a “sector outperform” rating in a research note on Wednesday, December 4th. Barclays lifted 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. Needham & Company LLC reiterated a “buy” rating and issued a $85.00 price objective on shares of GitLab in a report on Tuesday, January 7th. Finally, Robert W. Baird raised their target price on shares of GitLab from $62.00 to $75.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Three research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $76.42.

GitLab Price Performance

GTLB opened at $69.79 on Thursday. GitLab Inc. has a 52-week low of $40.72 and a 52-week high of $76.58. The business’s fifty day moving average is $63.30 and its 200-day moving average is $56.77.

Insider Buying and Selling

In other news, CEO Sytse Sijbrandij sold 84,776 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $59.64, for a total transaction of $5,056,040.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Matthew Jacobson sold 547,679 shares of the company’s stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $59.72, for a total value of $32,707,389.88. Following the sale, the director now owns 58,471 shares of the company’s stock, valued at approximately $3,491,888.12. This represents a 90.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 828,283 shares of company stock valued at $49,959,990 over the last quarter. 21.36% of the stock is 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.