Union Bancaire Privee UBP SA Invests $3.61 Million in GitLab Inc. (NASDAQ:GTLB)

Union Bancaire Privee UBP SA bought a new stake in shares of GitLab Inc. (NASDAQ:GTLB) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 66,306 shares of the company’s stock, valued at approximately $3,612,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. True Wealth Design LLC bought a new stake in GitLab in the third quarter valued at approximately $56,000. Raleigh Capital Management Inc. purchased a new stake in GitLab during the 4th quarter valued at $66,000. Rakuten Securities Inc. grew its holdings in 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 acquiring an additional 1,032 shares during the last quarter. First Horizon Advisors Inc. increased its position in shares of GitLab by 57.8% in the fourth quarter. First Horizon Advisors Inc. now owns 1,436 shares of the company’s stock valued at $81,000 after acquiring an additional 526 shares during the period. Finally, Capital Performance Advisors LLP bought a new position in shares of GitLab during the third quarter valued at about $96,000. 95.04% of the stock is currently owned by institutional investors.

GitLab Stock Down 4.9 %

Shares of NASDAQ GTLB opened at $64.12 on Friday. The company has a 50 day moving average of $64.11 and a 200 day moving average of $57.76. GitLab Inc. has a twelve month low of $40.72 and a twelve month high of $76.41. The firm has a market cap of $10.41 billion, a P/E ratio of -200.38 and a beta of 0.63.

Insider Transactions at GitLab

In related news, CFO Brian G. Robins sold 10,000 shares of GitLab stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $70.83, for a total value of $708,300.00. Following the completion of the sale, the chief financial officer now directly owns 267,380 shares in the company, valued at approximately $18,938,525.40. This trade represents a 3.61 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robin Schulman sold 2,996 shares of the company’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $55.98, for a total transaction of $167,716.08. Following the transaction, the insider now owns 129,223 shares in the company, valued at $7,233,903.54. This represents a 2.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 740,257 shares of company stock worth $44,710,867 over the last quarter. 21.36% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on GTLB. Macquarie reissued an “outperform” rating and issued a $90.00 target price on shares of GitLab in a research note on Wednesday, January 15th. Scotiabank boosted their target price on GitLab from $65.00 to $75.00 and gave the company a “sector outperform” rating in a research note on Wednesday, December 4th. DA Davidson raised their price target on GitLab from $50.00 to $70.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Wells Fargo & Company boosted their price objective on shares of GitLab from $80.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, Barclays lifted their target price 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. Three analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, GitLab has a consensus rating of “Moderate Buy” and an average 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.