3,550 Shares in GitLab Inc. (NASDAQ:GTLB) Acquired by Intellectus Partners LLC

Intellectus Partners LLC acquired a new position in shares of GitLab Inc. (NASDAQ:GTLB) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 3,550 shares of the company’s stock, valued at approximately $200,000.

Other hedge funds have also bought and sold shares of the company. True Wealth Design LLC acquired a new position in GitLab during the 3rd quarter valued at approximately $56,000. Raleigh Capital Management Inc. acquired a new position in GitLab during the 4th quarter valued at approximately $66,000. Smartleaf Asset Management LLC increased its stake in GitLab by 1,067.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,261 shares of the company’s stock valued at $71,000 after purchasing an additional 1,153 shares in the last quarter. Rakuten Securities Inc. increased its stake in GitLab by 268.1% during 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 in the last quarter. Finally, Steward Partners Investment Advisory LLC increased its stake in GitLab by 4,273.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,312 shares of the company’s stock valued at $74,000 after purchasing an additional 1,282 shares in the last quarter. Institutional investors and hedge funds own 95.04% of the company’s stock.

GitLab Stock Down 3.2 %

GTLB opened at $56.38 on Friday. The company has a market cap of $9.15 billion, a price-to-earnings ratio of -176.19 and a beta of 0.67. GitLab Inc. has a 52-week low of $40.72 and a 52-week high of $74.18. The firm’s fifty day simple moving average is $64.31 and its two-hundred day simple moving average is $58.99.

Insider Buying and Selling 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 transaction of $167,716.08. Following the transaction, the insider now directly owns 129,223 shares in the company, valued at approximately $7,233,903.54. The trade was a 2.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Brian G. Robins sold 10,000 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $67.59, for a total transaction of $675,900.00. Following the transaction, the chief financial officer now owns 242,803 shares in the company, valued at $16,411,054.77. The trade was a 3.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 740,257 shares of company stock valued at $44,710,867 over the last ninety days. Corporate insiders own 21.36% of the company’s stock.

Wall Street Analysts Forecast Growth

GTLB has been the topic of a number of recent analyst reports. Needham & Company LLC restated a “buy” rating and set a $85.00 price target on shares of GitLab in a research note on Tuesday, March 4th. DA Davidson cut their price target on shares of GitLab from $70.00 to $60.00 and set a “neutral” rating on the stock in a research note on Friday, February 28th. TD Cowen increased their price objective on shares of GitLab from $63.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Canaccord Genuity Group increased their price objective on shares of GitLab from $65.00 to $78.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Finally, Robert W. Baird cut their price objective on shares of GitLab from $80.00 to $76.00 and set an “outperform” rating on the stock in a research note on Monday, March 3rd. Three equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $75.38.

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.