131,760 Shares in GitLab Inc. (NASDAQ:GTLB) Purchased by iA Global Asset Management Inc.

iA Global Asset Management Inc. purchased a new position in shares of GitLab Inc. (NASDAQ:GTLB) during the fourth quarter, HoldingsChannel reports. The fund purchased 131,760 shares of the company’s stock, valued at approximately $7,425,000.

A number of other hedge funds have also bought and sold shares of GTLB. EverSource Wealth Advisors LLC increased its position in GitLab by 5,700.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 522 shares of the company’s stock worth $29,000 after acquiring an additional 513 shares during the period. IMG Wealth Management Inc. bought a new position in GitLab during the fourth quarter worth about $46,000. True Wealth Design LLC bought a new position in GitLab during the third quarter worth about $56,000. Raleigh Capital Management Inc. bought a new position in GitLab during the fourth quarter worth about $66,000. Finally, Smartleaf Asset Management LLC increased its position in GitLab by 1,067.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,261 shares of the company’s stock worth $71,000 after acquiring an additional 1,153 shares during the period. 95.04% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on GTLB shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $80.00 target price on shares of GitLab in a report on Tuesday, March 4th. Robert W. Baird decreased their target price on shares of GitLab from $80.00 to $76.00 and set an “outperform” rating on the stock in a report on Monday, March 3rd. The Goldman Sachs Group raised their target price on shares of GitLab from $80.00 to $88.00 and gave the company a “buy” rating in a report on Friday, December 6th. Needham & Company LLC reissued a “buy” rating and issued a $85.00 target price on shares of GitLab in a report on Tuesday, March 4th. Finally, Morgan Stanley raised their target price on shares of GitLab from $70.00 to $77.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Three analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, GitLab has an average rating of “Moderate Buy” and a consensus target price of $75.38.

Insider Buying and Selling

In other news, Director Susan L. Bostrom sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $56.26, for a total value of $1,125,200.00. Following the transaction, the director now owns 184,913 shares in the company, valued at approximately $10,403,205.38. The trade was a 9.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Brian G. Robins sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $70.83, for a total transaction of $708,300.00. Following the completion of the transaction, the chief financial officer now owns 267,380 shares in the company, valued at $18,938,525.40. This trade represents a 3.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 724,011 shares of company stock worth $43,675,533 in the last ninety days. Company insiders own 21.36% of the company’s stock.

GitLab Price Performance

NASDAQ:GTLB opened at $51.16 on Friday. The firm’s 50 day simple moving average is $62.95 and its 200 day simple moving average is $59.18. GitLab Inc. has a one year low of $40.72 and a one year high of $74.18. The company has a market cap of $8.30 billion, a PE ratio of -159.88 and a beta of 0.67.

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.